Following some irresponsible writing by the press on the expiry of licence on Horse Hill due on 30 September, 2015, UKOG today confirmed that the expiry dates for the above mentioned licences are as following:
PEDL 137 - Expiring on 30 September, 2015
PEDL 246 - Expiring on 30 June, 2019
UKOG further reaffirmed that the Horse Hill Consortium (which UKOG owns about 20% interest) has applied to the Oil & Gas Authority (OGA) for a one year extension of exploration for PEDL 137. The consortium intends to conduct a flow test late rin 2015 and that it has already submitted applications to the authorities for their consent. Planning approval for the flow test is already in place.
Subject to the results of the flow test being successful, the consortium would seek, in conjunction with the OGA and other regulators, to move PEDL 137Licence to the Production period, via submission of a Field development Plan to OGA.
The above shows the importance of doing your own research. Poor research can only lead to you falling prey to unfounded fear.
No comments:
Post a Comment