UK Oil and Gas PLC
Key information
Key information
Sector
Oil, Gas and Coal
Website
Close date
Delivery
Placing price
Last price
Discount
Amount raised
0.03
0.0475 p
37 %
£3,500,000
Company description
UKOG is an energy company focused upon oil and gas exploration and production in the UK and international onshore sectors, together with an increasing diversification into gas storage, hydrogen, and geothermal energy space within the UK.
Use of proceeds
The funding will enable the Company to commission and deliver the necessary engineering concept and design studies that are essential to deliver the planned collaboration between our wholly owned subsidiary UK Energy Storage ("UKEn") and National Gas. The funding will also enable UKEn to progress a potential combined electrolytic hydrogen generation and local scale salt-cavern hydrogen storage scheme in central eastern Dorset. The funding will permit the necessary technical studies to be undertaken to build upon initial discussions with Dorset Council and a significant Dorset based industrial hydrogen offtaker.
Company announcement
https://www.londonstockexchange.com/news-article/UKOG/successful-funding-for-uken-hydrogen-projects/17259600
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