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UK Oil & Gas Investments ( (GB:UKOG) ) has provided an update.
UK Oil & Gas PLC has announced the sale of its wholly-owned subsidiary, UKOG (GB) Limited, to Servatec Holdings Limited for £400,000. This divestment aligns with UKOG’s strategic shift towards clean energy, specifically hydrogen storage and production, and the proceeds will support its hydrogen storage projects. The sale reflects UKOG’s commitment to transitioning away from traditional hydrocarbons, potentially impacting its market positioning and stakeholders by focusing on sustainable energy solutions.
More about UK Oil & Gas Investments
UK Oil & Gas PLC is a company operating in the oil and gas industry, focusing on transitioning from hydrocarbons to clean hydrogen storage and production. The company is involved in projects related to hydrogen storage in salt caverns located in Dorset and Yorkshire.
Technical Sentiment Signal: Strong Sell
Current Market Cap: £1.69M
For a thorough assessment of UKOG stock, go to TipRanks’ Stock Analysis page.