UK Oil & Gas Plc

UKOG previously focused primarily on oil and gas assets located in the Weald Basin in southern England. However, in 2021 UKOG entered into an agreement with operator Aladdin Middle East Ltd to acquire a 50% interest in the 305 km² Resan Licence in the Republic of Turkey.

Then in May 2022, the Company’s wholly-owned subsidiary, UK Energy Storage Ltd (“UKEn”), signed an Agreement for Lease with Portland Port Limited covering two sites at the former Royal Navy port in Dorset, with the intent to develop, subject to new planning consent and securing necessary development finance, a planned integrated energy hub, centred around hydrogen-ready gas storage and a future green hydrogen generation capability.