UK Oil & Gas PLC Geothermal Energy Advancement Association (7671W)
April 27 2021 - 10:53AM
UK Regulatory
TIDMUKOG
RNS Number : 7671W
UK Oil & Gas PLC
27 April 2021
UK Oil & Gas PLC
("UKOG" or the "Company")
Founder membership of Geothermal Energy Advancement
Association
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that the Company has become one of the six founder members of the
newly-formed Geothermal Energy Advancement Association
("GEAA").
GEAA's mission is to advocate increased awareness of and
investment in geothermal energy as a key sustainable source for
zero-carbon electricity, heat, hot water. As reported in UKOG's
latest Annual Report, the Company plans to be increasingly active
in this newly-emerging sector, where we possess the key subsurface,
engineering and commercial skills necessary to make such projects
work.
UKOG is actively scoping two new standalone geothermal projects
in the UK, together with a hybrid geothermal, solar and battery
storage project at our Horse Hill site. We also plan to review
geothermal opportunities onshore Turkey once our forthcoming
Basur-3 appraisal well has been completed.
A copy of GEAA's press release of 26(th) April 2021 can be found
on the Company's website www.ukogplc.com.
Stephen Sanderson UKOG's Chief Executive commented:
"With increased investment and a wider understanding of how
geothermal energy can be used, geothermal can become a key part of
the UK's low-carbon future."
Qualified Person's Statement
Matt Cartwright, UKOG's Commercial Director, who has 37 years of
relevant experience in the global oil industry, has approved the
information contained in this announcement. Mr Cartwright is a
Chartered Engineer and member of the Society of Petroleum
Engineers.
For further information, please contact:
UK Oil & Gas PLC
Stephen Sanderson / Kiran Morzaria Tel: 01483 941493
WH Ireland Ltd (Nominated Adviser
and Broker)
James Joyce / James Sinclair-Ford Tel: 020 7220 1666
Communications
Brian Alexander Tel: 01483 941493
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END
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