UK Oil & Gas Become One of the Six Founder Members of Newly-Formed GEAA

Source: www.gulfoilandgas.com 4/27/2021, Location: Europe

UK Oil & Gas PLC (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 26th 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.


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