9th Mar 2015 08:27
LONDON (Alliance News) - UK Oil & Gas Investments PLC shares were trading higher Monday morning after the company said it has increased its interest in the Horse Hill prospect to 28%.
UK Oil & Gas has acquired the stake in Horse Hill Developments Ltd, increased from its previous 20% stake, from Angus Energy Ltd for GBP580,000 in cash.
Horse Hill Developments owns a 65% stake in the Horse Hill prospect, in the Weald Basin in the UK, with the other 35% held by Magellan Petroleum Corp.
Shares in UK Oil & Gas were up 12% to 0.649 pence on Monday morning, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
UK Oil & Gas