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UK Oil and Gas sells Horse Hill site at massive loss as new owner reapplies to drill

UK Oil and Gas (UKOG) has sold its Horse Hill oil site for £1m after investing over £25m and writing the asset down to £55,360, and rebranded as UK Energy Group to focus on clean energy. The new owner, now controlling Horse Hill Developments, has submitted a renewed planning application to extract up to about 678,693 tonnes of oil over 20 years. The project faces scrutiny after the 2024 Supreme Court Finch ruling requiring downstream greenhouse gas emissions to be considered in environmental assessments, and campaigners warn the application understates cumulative climate impacts. » More on theguardian.com
UK Oil & Gas reports £1.37m loss and shifts to hydrogen storage projects

UK Oil & Gas reported a loss of £1.37m for the first half to 31 March 2025, with revenue falling to £0.31m due to lower production following the temporary suspension of Horse Hill. The company is accelerating its strategic shift from oil exploration to developing hydrogen storage projects in salt caverns in South Dorset and East Yorkshire. UKOG has halted exploration activities in Turkey, sold assets and says it will need to raise additional capital for the hydrogen initiatives before the end of Q2 2026. » More on de.investing.com

Financials

In the last year, UK Oil & Gas had revenue of €1.77m and net profit of -€4.35m

(EUR)	2023	YoY
Revenue	1.77m	12.46%
Gross profit	316.84k	10.13%
Net profit	-4.35m	21.43%
EBITDA	-3.73m	26.01%

Fundamentals

Metric	Value
Market capitalization	€6.73m
Number of shares	7.74bn
52-week high/low	€0.0131 - €0.00087
Dividends	No
Beta	0.99
P/E ratio	-0.26
PEG ratio	0.00
P/B ratio	8.33
P/S ratio	12.66

Company profile

UK Oil & Gas PLC ist als Öl- und Gasexplorations- und Produktionsunternehmen im Vereinigten Königreich und in der Türkei tätig. Das Unternehmen hält direkte und indirekte Beteiligungen an einem Portfolio von sechs britischen Onshore-Explorations-, Bewertungs-, Erschließungs- und Produktionsanlagen in den Weald- und Purbeck-Wight-Becken in Südengland. Die Anlagen erstrecken sich über eine Fläche von etwa 689 Quadratkilometern (km²). Das Unternehmen hält außerdem eine 50-prozentige Beteiligung an der Resan-Ölbewertungs- und Explorationslizenz mit einer Fläche von 305 km² im Südosten der Türkei. UK Oil & Gas PLC wurde im Jahr 2004 gegründet und hat seinen Sitz in London, Vereinigtes Königreich.

Name	UK Oil & Gas
CEO	Stephen Sanderson
Headquarters	London, United Kingdom
Website	ukogplc.com
Industry	Health Care Equipment & Supplies
IPO	02/03/2005
Employees	14