TIDMNUOG

RNS Number : 8504N

Nu-Oil and Gas PLC

14 August 2017

NU-OIL AND GAS PLC

AIM ticker: 'NUOG'

14 August 2017

NU-Oil and Gas plc

("NU-Oil" or "the Company")

Update on Lease PL2002-01(A)

NU-Oil is pleased to announce that it has received informal confirmation from the Department of Natural Resources of the Provincial Government of Newfoundland and Labrador that its application to renew onshore petroleum lease PL2002-01(A), which expired on 11 August 2017, has been approved. The Company expects to receive formal confirmation during the course of today and will provide a further update then.

Enquiries:

NU-Oil and Gas plc

   Alan Minty, Executive Chairman              Tel: +44 161 817 7460 
   Nigel Burton, CEO                                           Tel: +44 7785 234447 
   Beaufort Securities Limited                         Tel: +44 20 7382 8300

Jon Belliss

Elliot Hance

Strand Hanson Limited

   Rory Murphy/Ritchie Balmer                     Tel: +44 20 7409 3494

www.nu-oilandgas.com

Note to Editors:

 
 NU-Oil and Gas plc is an independent oil and gas 
  company whose strategy is to build a diverse portfolio 
  of assets with a strong emphasis on acquiring interests 
  in stranded and marginal fields. These fields are 
  low risk highly-appraised projects and consequently 
  the Company's entry cost will be low. NU-Oil will 
  look to develop these assets utilising solutions 
  delivered by Marginal Field Development Company 
  (MFDevCo) and the MFD Consortium, which can significantly 
  improve the development economics of a project. 
  This is also expected to enable the early booking 
  of reserves.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

August 14, 2017 02:00 ET (06:00 GMT)

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