UK Oil & Gas (UKOG.L): What Led To The Increase In Share Prices?

For July 13, UK Oil & Gas’s market close remained the same as its open – 0.17 GBP. The company has been demonstrating low volatility with a high beta score of 1.19. Moreover, the shares have been ranging from 0.1650 GBP to 0.1750 GBP daily over the week. The company’s market capitalization is estimated at £27.17 million.
The start of drilling operations at the Basur-3 field in Turkey led to an increase in the prices of Ukog shares. Air drilling began on June 26. According to Stephen Sanderson, CEO of UK Oil & Gas, the start of drilling of Basur 3 is an important milestone for UCOZ Turkey and the company. The appraisal well, according to the oil researcher, was the first modern well designed to properly study the scale and commercial viability of the Basur-Rezan oil field, discovered in the 1950s and 1960s.

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Recall that the share price of the UK oil and gas company is gaining momentum, despite the fact that Brent oil prices have fallen below $ 76 per barrel. Amid new drilling news, the share of oil in the UK increased by 5% at the beginning of the week.

Lora Nilsson

Finance and Business reporter After graduating high school. Lora decided to travel and blog as a part-timer. Today she enjoys what she loves and works remotely as our finance and business reporter

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