LON:UKOG v.active building its exposure to the Weald Basin...something the mkt seems to like..Up~12.5% so far on back of scrip deal with MPET to assume ownership of some key Weald PEDL's. UKOG is media-hungry with a stated aim of wanting to control the Weald Basin...particularly the Kimmeridge Clay prospects. IMO UKOG's Weald-focussed activity can only be good for the value of AJL's majority stake in the (quietly heralded) Balcombe/Bolney Kimmeridge oil discovery, down the track.
A sideshow to the Bowland shale though...with AJL/Cuadrilla's now exploring the West & also the new Eastern acreage releases from the 14th Round.
Raving
AJL Price at posting:
34.0¢ Sentiment: Buy Disclosure: Held
