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UKOG share price

In 2020, UK Oil & Gas PLC announced that it had secured a long-term production license for its Horse Hill site in the Weald Basin of southern England. The company also began producing oil from the well, with initial production rates exceeding expectations. This was a significant milestone for the company and could provide a source of revenue and cash flow for future operations.

However, UK Oil & Gas PLC has faced challenges related to regulatory approval and public opposition to its operations. In 2019, the company faced criticism from environmental groups and local communities over plans to drill at its site on the Isle of Wight. The company eventually withdrew its application for the site, citing delays in the regulatory process.

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UKOG Share Price

The London Stock Exchange (LSE) has listed UK Oil & Gas PLC under the ticker symbol “UKOG.” It is categorized as an oil and gas exploration and production company. In addition, it’s a constituent of the FTSE AIM All-Share Index. The company primarily operates in the UK, focusing on exploration and production in the Weald Basin in Southern England. As of this post, UKOG Share Price is at 0.062 GBp.

Brief Background of UKOG Share

UK Oil & Gas PLC is a British oil and gas exploration and production company founded in 2003. Here is a brief overview of its history:

  • In 2003, the company was founded as Sarantel Group PLC.
  • In 2013, the company changed its name to UK Oil & Gas Investments PLC to reflect its shift in focus to oil and gas exploration and production.
  • In 2014, the company acquired a 20% interest in the Horse Hill-1 well in the Weald Basin of southern England. This was later found to contain significant oil resources.
  • In 2015, the company completed a successful fundraising round, raising £6.5 million to support its operations.
  • In 2016, the company acquired a 6% interest in the Broadford Bridge-1 well in the Weald Basin, which was also found to contain significant oil resources.
  • In 2019, the company changed its name to UK Oil & Gas PLC.
  • In 2020, the company announced that it had secured a long-term production license for the Horse Hill site and began producing oil from the well.

Throughout its history, UK Oil & Gas PLC has faced opposition from environmental groups and local communities concerned about the potential impact of oil and gas exploration and production on the environment and public health.

Advantages of Investing in UKOG Share

  • Significant oil resources. UK Oil & Gas PLC has interests in several oil and gas exploration and production projects in the Weald Basin of southern England, including the Horse Hill and Broadford Bridge sites. These sites are believed to contain significant oil resources, potentially providing investors with solid returns if the company successfully develops these resources.
  • Established track record. The company has been operating in the oil and gas industry for several years and has progressed in its exploration and production activities. This could give investors confidence in the company’s ability to execute its strategy and deliver value.
  • Strategic partnerships. UK Oil & Gas PLC has formed strategic partnerships with other companies in the oil and gas industry, including Egdon Resources and Alba Mineral Resources. These partnerships could provide access to additional expertise, resources, and financing to support the company’s growth and development.
  • Growth potential. The oil and gas industry is a large and established market with significant growth potential, particularly in emerging markets. If UK Oil & Gas PLC successfully develops its oil resources, it could benefit from this growth and deliver solid returns for investors.

Main Competitors of UKOG

UK Oil & Gas PLC operates in the oil and gas exploration and production industry. Here are some of the company’s main competitors:

  1. BP PLC. BP is a multinational oil and gas company headquartered in London, UK. It is one of the world’s largest oil and gas companies and operates in several countries.
  2. Royal Dutch Shell PLC. Shell is another multinational oil and gas company headquartered in the Netherlands. Like BP, it is one of the world’s largest oil and gas companies and has operations in many countries.
  3. TotalEnergies SE. TotalEnergies is a French multinational oil and gas company that operates in over 130 countries worldwide. It has a strong presence in the industry’s upstream, midstream, and downstream segments.
  4. Chevron Corporation. Chevron is an American multinational oil and gas company in several countries worldwide. It is one of the world’s largest oil and gas companies and has a diversified portfolio of assets.
  5. ExxonMobil Corporation. ExxonMobil is another American multinational oil and gas company that operates in several countries worldwide. It is one of the world’s largest oil and gas companies and has operations across the entire value chain of the industry.

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Conclusion

In 2021, UK Oil & Gas PLC announced that it had raised £2.2 million in a fundraising round to support its operations. The company also reported progress in its exploration activities, including identifying new targets for drilling in the Weald Basin.

FAQ

FAQ: UKOG share price

What is the historic performance of UK Oil & Gas PLC stock?

According to publicly available data, UK Oil & Gas PLC was first listed on the London Stock Exchange's AIM market in 2005, with an initial share price of 0.03 pence. From 2005 to 2012, the company's share price remained relatively stable, trading from 0.03 pence to 0.10 pence.

In 2013, the company's share price rose, reaching a peak of 2.25 pence in April 2015. This increase in share price was attributed to the company's success in drilling and testing the Horse Hill well in the Weald Basin of southern England. However, the share price declined sharply in the following months, trading at around 0.50 pence by the end of 2015.

From 2016 to 2019, UK Oil & Gas PLC's share price remained relatively stable, trading from 0.50 pence to 2.00 pence. However, the share price declined sharply again in 2020 following the outbreak of the COVID-19 pandemic and the subsequent decline in oil prices. As a result, the company's share price was around 0.20 pence by the end of 2020.

Does UK Oil & Gas PLC pay dividends to its stockholders?

According to publicly available information, UK Oil & Gas PLC has not paid dividends to its shareholders in recent years. Instead, the company has focused on reinvesting its earnings into its operations and growth strategies.

How much does UK Oil & Gas PLC make in a year?

According to the company's financial reports for the fiscal year ended September 30, 2020, UK Oil & Gas PLC had a total revenue of £0.08 million (GBP) and a net loss of £2.83 million (GBP) for the year. The company's revenue for the year was primarily from selling oil and gas produced from its Horse Hill site.

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Simon Williams
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