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Turkey: UKOG receives formal government consent for Turkish Resan Licence acquisition
15 Jan 2021
UK Oil & Gas (UKOG) has announced that the Company s wholly owned subsidiary,
UKOG Turkey, has received notice that formal government consent for the Company s acquisition of a 50% interest in the 305 sq km Basur-Resan oil appraisal and exploration licence has now been granted via official decree. Forthwith, together with the operator,
Aladdin Middle East ( AME ), the Company is a named party to the Licence, officially designated as
AR/AME/K/M47-b1, b2.
As per the Company s 14 October 2020 announcement, the board views the Licence s forthcoming 2021 appraisal drilling programme, aimed initially at proving the commerciality of the Basur-Resan oil discovery, to present a compelling and potentially transformational growth opportunity for the Company.
UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that the Company s wholly owned subsidiary, UKOG Turkey Ltd, has received notice that formal government consent for the Company s acquisition of a 50% interest in the 305 km² Basur-Resan oil appraisal and exploration licence, ( Licence ), has now been granted via official decree. Forthwith, together with the operator, Aladdin Middle East Ltd ( AME ), the Company is a named party to the Licence, officially designated as AR/AME/K/M47-b1, b2.
As per the Company s 14 October 2020 announcement, the board views the Licence s forthcoming 2021 appraisal drilling programme, aimed initially at proving the commerciality of the Basur-Resan oil discovery, to present a compelling and potentially transformational growth opportunity for the Company.