Business
Annual Accounts for year ended 30 September 2022
Annual Accounts for year ended 30 September 2022.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n UK Oil & Gas Plc\n \n \n \n \n (\"UKOG\" or the \"Company\")\n \n \n \n \n \n \n Annual Review and Accounts for the year ended 30 September 2022\n \n \n \n \n \n UK Oil & Gas Plc (AIM: UKOG), a UK and internationally focused energy company, is pleased to announce its full year results for the full year ended 30 September 2022. A copy of the full annual report and details of the Company's annual general meeting will be posted to shareholders in due course. A copy of the full annual report will also be made available on the Company's website:\n \n \n www.ukogplc.com\n \n \n \n \n \n \n \n \n \n STRATEGIC REPORT FOR THE YEAR ENDED 30 September 2022\n \n \n \n \n \n \n \n OUR BUSINESS\n \n \n \n \n \n \n UKOG aims to build a sustainable oil and gas production base that can act as a springboard to further worldwide opportunities and to build its UK gas storage and hydrogen energy business in the transition to net zero. \n \n \n \n \n \n Our current operational focus is on the UK and Turkey onshore sectors. UKOG has operated safely and environmentally responsibly in the UK since 2013.\n \n \n \n \n \n Our current UK onshore portfolio consists of direct and indirect interests in six oil & gas exploration, appraisal, development and production assets, all situated within the Weald and Purbeck-Wight Basins of southern England. We are the largest acreage holder in the south of England, with assets covering 689 gross km².\n \n \n \n \n \n We hold majority interests in four\n UK onshore oil & gas discoveries, the most notable being at Horse Hill and Loxley in Surrey, together with a significant position in the Kimmeridge Limestone (KL) oil deposit or \"play\". UKOG holds the largest acreage position within the play's most prospective area or \"sweet spot\", covering 489 gross km².\n \n \n \n \n \n Our UK oil & gas portfolio contains a good balance of low-risk production, appraisal and development assets as well as upside exploration assets within both the Kimmeridge Limestone and Portland conventional plays.\n \n \n \n \n \n Our expanding portfolio in Turkey consists of a\n 50% non-operated working interest in the 305 km² Resan licence\n in south east Turkey, containing the potentially significant undeveloped Basur-Resan oil discovery plu...