UK Oil & Gas PLC, based in London, reported a revenue slump of 30% in the six months ending March 31, with pretax loss standing at £1.4 million. However, the company noted positive developments in certain projects, including the Horndean field in Texas. A field resource report by DeGolyer & MacNaughton revealed a 22% increase in daily production and a rise in net reserves to 186,200 barrels. Additionally, UKOG's planned hydrogen storage facility in Dorset garnered support from SGN Ltd, the operator of the hydrogen transmission line. CEO Stephen Sanderson highlighted the importance of this support for decarbonising the Solent Cluster and Southern England. The successful collaboration with SGN Ltd is crucial for the project to secure financial support from the UK government and align with hydrogen storage allocation requirements. UKOG's shares rose by 12% following these developments.