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UKOG Announces Formal Government Consent for Turkish Resan License

Source: www.gulfoilandgas.com 1/15/2021, Location: Europe

UK Oil & Gas PLC (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 km˛ 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.

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