UK Oil & Gas Investments (GB:UKOG) has released an update.
UK Oil & Gas PLC has reported encouraging interim results, with significant developments in hydrogen storage projects that could meet a large portion of the UK’s future hydrogen demand and aid in the country’s decarbonisation goals. They have secured letters of support from major entities such as Summit Energy Evolution Ltd and SGN, which are crucial for obtaining government funding and advancing these projects. Additionally, the company has completed a capital restructuring and is seeking to de-risk its Loxley project in Surrey by farming out up to a 50% working interest.
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