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RNS Number : 4925M

Hague and London Oil PLC

08 May 2015

8 May 2015

Hague and London Oil PLC

Licence award completion

Hague and London Oil PLC (the "Company") is pleased to announce that the UK Department of Energy and Climate Change has now executed the formal documentation related to Licence P2265 over blocks 98/7b, 98/8a and 98/12 (northern part), the provisional award of which was announced by the Company in November 2014.

The Promote Licence was awarded to Wessex Hydrocarbons Limited (a wholly-owned subsidiary of the Company), which was named as Administrator of the Licence with a 35% working interest. Its partner, NWE Mirrabooka (UK) Pty Limited, a subsidiary of Perth-based, Australian-listed Norwest Energy NL, holds a 65% working interest. The Licence covers the areas to the east of the Wytch Farm oil field in Bournemouth Bay, offshore Southern England and is valid from 1 December 2014 to 30 November 2018.

During the initial two-year period, the partners commit to reprocess the existing 3D seismic data to pre-stack depth migration. At the end of this initial period, the partners will have the option either to commit to drill a well in the remaining two years of the Licence or relinquish it in full.

In accordance with the AIM Rules the information contained in this announcement has been reviewed and signed off by Dr Malcolm Butler PhD, BSc, CGeol, FGS, a non executive director of the Company, who has over 40 years' experience as a petroleum geologist.

For further information please contact:

 
 Hague and London Oil PLC 
 Andrew Cochran, Chairman      +44 20 
  and Interim CEO               7520 9268 
 Natalia Erikssen, IR/PR 
  enquiries 
 
 Stifel Nicolaus Europe 
  Limited (NOMAD & Broker) 
 Michael Shaw / Ashton         +44 20 
  Clanfield                     7710 7600 
 
 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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