- UK Oil & Gas said it had been granted two-year extensions to the initial terms of two licences.

The licences included the company's operated PEDL331 on the Isle of Wight, which included the Arreton oil discovery.

They also included PEDL143 prospect in northern Weald.

The initial terms would now end on 20 July 2023 and 30 September 2022, respectively.

'The company expects that these extensions will permit its previously reported multiple well appraisal and exploration drilling campaign to be conducted and completed fully within both licences' initial term,' UK Oil & Gas said.

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