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UK Oil & Gas PLC - Loxley Planning Consent Meeting to be Rerun

RNS Number : 9863U
UK Oil & Gas PLC
03 August 2020
 

UK Oil & Gas PLC

("UKOG" or the "Company")

 

Loxley Planning Consent Meeting to be Rerun

 

UK Oil & Gas PLC (London AIM: UKOG) is pleased to note that following questions raised as to the lawfulness of the planning committee meeting ("PCM") held on 29th June, during which the Company's Loxley gas appraisal project was presented for determination, Surrey County Council (SCC) have decided that the Loxley Gas project should be redetermined at a future PCM. The Company now expects the Loxley project to be redetermined by SCC in the PCM scheduled on 17 September.

Following the 29 June meeting, in which the members voted by 6 to 5 against SCC's planning officer's recommendation to consent to UKOG's Loxley application, the Company sent SCC a formal legal letter of complaint outlining a series of procedural and other legal issues that potentially affected the lawfulness of decisions made during the meeting.

SCC also acknowledge that their Monitoring Officer received in excess of 100 similar complaints alleging that there were procedural irregularities that invalidated the result. Following the PCM no formal determination notice was issued to the Company by SCC, meaning the project remains officially undetermined.

The Company welcomes the chance to restate why the low-impact Loxley project is of material local and national economic importance, is fully compliant with Net Zero, and presents minimal local business, local highway and environmental impacts. The Environment Agency has already issued a permit covering all aspects of the development.

We trust that the 17 September re-run will result in a decision fully commensurate with the facts presented, natural law and fair democratic process.

 

For further information, please contact:

 

UK Oil & Gas PLC

 

Stephen Sanderson / Kiran Morzaria

 

Tel: 01483 941493

WH Ireland Ltd (Nominated Adviser and Broker)

 

James JoyceJames Sinclair-Ford

 

Tel: 020 7220 1666

Cenkos Securities PLC (Joint Broker)

 

Joe Nally / Neil McDonald

 

Tel: 020 7397 8919

Novum Securities (Joint Broker)

 

John Belliss

 

Tel: 020 7399 9400

Communications

 

Brian Alexander

Tel: 01483 941493

 

 

UKOG Licence Interests

 

 

The Company has interests in the following UK licences:

 

Asset

Licence

UKOG Interest

Licence Holder

Operator

Area (km2)

Status

Avington 1

PEDL070

5%

UKOG (GB) Limited

IGas Energy Plc

18.3

Field currently temporarily shut in

Broadford Bridge/Loxley/Godley Bridge 2, 3, 8

PEDL234

100%

UKOG (234) Ltd 4

UKOG (234) Ltd 4

300.0

BB-1/1z oil discovery, Loxley/Godley Bridge gas discovery

A24 3

PEDL143

67.5%

UKOG

UKOG 7

91.8

Finalising new site selection to drill Portland and Kimmeridge prospects

Horndean 1

PL211

10%

UKOG (GB) Limited

IGas Energy Plc

27.3

Field in stable production

Horse Hill ¹ ⁵

PEDL137

85.635%

Horse Hill Developments Ltd 

Horse Hill Developments Ltd 

99.3

Field in stable production

Horse Hill ¹ ⁵

PEDL246

85.635%

Horse Hill Developments Ltd 

Horse Hill Developments Ltd 

43.6

Field in stable production

Isle of Wight (Onshore) 2, 3

PEDL331

95%

UKOG

UKOG

200.0

Planning application submitted for Arreton oil appraisal well

               

Notes:

 

1.  Oil field currently in stable production.

2.  Oil discovery pending development and/or appraisal drilling.

3.  Exploration asset with drillable prospects and leads.

4.  Contains the Loxley Portland gas accumulation, the Broadford Bridge-1/1z Kimmeridge oil discovery, plus further undrilled Kimmeridge exploration prospects.

5.  Portland and Kimmeridge oil field with productive and commercially viable zones, HH-1 in stable oil production, HH-2z EWT ongoing, production planning consent granted in September 2019, long term Production consent granted March 2020.

6.   UKOG has a direct 77.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.

7.   OGA consent received for the transfer of operatorship from Europa to UKOG

8.   Gas discovery pending appraisal drilling and development with underlying Kimmeridge potential

 

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


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
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Price: 0.1965

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Market Cap: £21.81 m
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