UK Oil & Gas gains ahead of court date

The share price of AIM-listed UK Oil & Gas (LON:UKOG) increased by 3.95% to 0.17p (as of 15:45 GMT) after a date was set for a challenge against long term production consent at the Horse Hill site. The firm’s lawyers continue to believe that the challenge is not legally sound and two prior attempts have been denied in the courts.

CEO Stephen Sanderson commented: “We remain confident that the action has no merit and that the court will uphold SCC’s decision.”