London Oil & Gas Ltd
London Oil and Gas Limited (LOG) is an oil and gas investment company and a wholly owned subsidiary of London Power Corporation Limited. LOG holds a number of core oil and gas investments in the North Sea and actively seeks to expand its portfolio of oil and gas investments in the UK and abroad. Through its investment in strategic partners, it currently has interests in a number of oil and gas fields, prospects, and discoveries. Through LOG’s partners and future investments, LOG intends to grow its North Sea portfolio, working to rejuvenate the North Sea and bolster the UK’s energy security.
LOG’s strategy aligns with the UK government’s Maximising Economic Recovery (MER) strategy, to support and encourage UK based energy companies to increase production from UK gas and oil reserves. The aim is to reduce the dependencies associated with traditional import routes which hold inherent geopolitical risks and negative environmental and economic impacts due to moving resources from so far afield.
LOG’s management team believes oil and natural gas will continue to play a fundamental role in the global energy mix for several decades. This belief guides LOG’s business, both operationally and in terms of a broader strategic investment direction.
INDEPENDENT OIL & Gas
Since LOG’s investment in 2014, Independent Oil and Gas Plc (IOG), an AIM listed company (LON:IOG), has evolved into a low cost, infrastructure-led development business on the cusp of launching two gas hub projects in the Southern North Sea with substantial anticipated natural gas reserves and resources.
The recommissioning of IOG’s Thames-Bacton pipeline will be the first step in unlocking the initial five field development. Further potential comes from the appraisal of the Harvey discovery, expected in first quarter 2019.
Established in 1998, P/F Atlantic Petroleum (Atlantic) is a Faroese independent exploration and production company with oil and gas interests in the UK Continental Shelf and Celtic Sea. Atlantic is listed on the Copenhagen (CPH: ATLA-DKK) and Oslo (OSL: ATLA-NOK) stock exchanges.
LOG first engaged with Atlantic in 2016 and since then has worked closely with at various levels so as to strengthen its financial health, meet its fiduciary obligation, and offer capital to investigate growth opportunities. Atlantic has economic interest in two UK North Sea license assets: Orlando and Pegasus and additionally holds variable working interest in the UK Badger license along with others in the Celtic Sea that provide potential of further upside to LOG’s investment.