- UK Oil & Gas Investments said it intended to change its trading status from an investing company to that of an operating company, allowing it to take controlling stakes in assets.

The change would be implemented in line with AIM rules following publication of an admission document and obtaining shareholder consent.

A status-change circular and admission document were expected to be published before the end of July.

Under its new status, UK Oil & Gas Investments said it would be able to take direct controlling operated interests in oil and gas exploration, appraisal and production assets -- and generally conduct its business with fewer restrictions than an investing company.

At 8:18am: [LON:UKOG] UK Oil Gas Investments Plc share price was +0.18p at 2.08p

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