Hill Dickinson has recently advised AIM-listed client UK Oil & Gas Investments plc (UKOG) on a £10m convertible loan facility with a consortium of investors arranged by Riverfort Global Capital Ltd.

The proceeds of the fundraising will be used for general working capital and to ensure that UKOG is able to carry out its stated forward drilling and testing programme over the next 12 months. This programme includes the completion of flow tests, the forthcoming production testing and appraisal drilling programme at Horse Hill and the drilling and testing of the Holmwood exploration prospect.

Hill Dickinson has advised UKOG on a number of corporate transactions over the past year including a £6.5m placing with Cenkos Securities in May 2017.

The Hill Dickinson team was led by corporate partner Jaspal Sekhon with assistance from Melissa Wloch (associate).