UK Oil & Gas Investments granted one year extension on offshore Isle of Wight licence (Scandinavian Oil-Gas Magazine)

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UK Oil & Gas Investments granted one year extension on offshore Isle of Wight licence

Published Jun 16, 2015

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UK Oil & Gas Investments says that the Offshore Isle of Wight licence (P1916, UKOG 77.5% and operator) has been extended for a further year by the Oil & Gas Authority.

The P1916 initial period of the exploration stage has been extended to 31 January 2017.

The extension provides the Company with the necessary time to finalise drilling plans, and obtain regulatory permissions in order to drill the M prospect, located primarily in P1916, during the licence's initial period for exploration.

Stephen Sanderson, UKOG's CEO commented,'The licence extension will greatly facilitate our current efforts towards drilling this exciting prospect.'

Tags: UK Oil & Gas Investments PLC

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