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UK Oil & Gas lands 2 year extension to Broadford Bridge planning permission

It extends the permission for the well site to March 2022.

UK Oil & Gas lands 2 year extension to Broadford Bridge planning permission

UK Oil & Gas PLC (LON:UKOG) has secured an extension for its planning permission at the Broadford Bridge project.

The West Sussex County Council's planning committee agreed to extend the permission for 2 years, meaning it will now expire on March 31 2022. It was approved via a 10-1 majority vote.

"The Kimmeridge play, where UKOG holds industry-leading knowledge and an unrivalled acreage position within the sweet spot, remains of primary company interest,” said Stephen Sanderson, chief executive.

“This extension will enable us to incorporate key future well and test information into our understanding of this new play before any further appraisal of our BB-1 Kimmeridge discovery."

Quick facts: UK Oil & Gas PLC

Price: 0.185 GBX

Market: AIM
Market Cap: £20.53 m

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