UK Oil & Gas PLC Loxley appeal submitted to Planning Inspectorate (5311O)
February 10 2021 - 1:00AM
UK Regulatory
TIDMUKOG
RNS Number : 5311O
UK Oil & Gas PLC
10 February 2021
UK Oil & Gas PLC
("UKOG" or the "Company")
Loxley appeal submitted to Planning Inspectorate
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
today that, further to its announcement of 17(th) December 2020,
the Company has now lodged an appeal with the Planning Inspectorate
against Surrey County Council's ("SCC") 15(th) December 2020
decision to refuse planning consent for the Loxley gas appraisal
project. Pandemic permitting, the expectation is that a public
inquiry will be held in the autumn, with a decision by the end of
2021.
Leading Counsel continues to advise that there are strong
grounds to expect a positive appeal outcome, as SCC's cited grounds
for refusal are in direct conflict with the advice of its
professional Planning and Highway Officers and their respective
recommendations for approval.
UKOG's submitted Statement of Case can be viewed on its
website:
https://www.ukogplc.com/
As previously reported on 19(th) September 2020, in terms of
recoverable gas resources, Loxley, 100%-owned by UKOG, is estimated
to be one of the largest gas accumulations discovered and flow
tested in the UK onshore. Its success case is estimated to be
capable of providing energy to power around 200,000 homes per
year.
Furthermore, as stated at the SCC planning committee meetings of
29(th) June and 27(th) November 2020, the Company envisages Loxley
could play its part in helping achieve net-zero via the supply of
gas feedstock for reformation into clean burning hydrogen, an
energy source with an 85% reduction in related carbon emissions
versus natural gas.
Loxley's and other UK domestic gas also provide a much lower
carbon-footprint hydrogen feedstock option than imports, having
approximately a quarter of the carbon emissions of imported
liquefied natural gas.
Stephen Sanderson UKOG's Chief Executive commented:
"We take comfort that the future of Loxley as a low-impact
hydrogen feedstock project will now be decided by a professional
planning inspector, who must consider hard facts, not fiction, and
arrive at a decision that is wholly consistent with the objective
evidence presented. Our planning case is strong and we remain
confident of a positive result."
For further information, please contact:
UK Oil & Gas PLC
Stephen Sanderson / Kiran Morzaria Tel: 01483 941493
WH Ireland Ltd (Nominated Adviser
and Broker)
James Joyce / James Sinclair-Ford Tel: 020 7220 1666
Communications
Brian Alexander Tel: 01483 941493
UKOG Licence Interests
The Company has interests in the following UK and international
licences:
Asset Licence UKOG Licence Holder Operator Area Status
Interest (km
(2)
)
Avington UKOG (GB) IGas Energy Field temporarily
(1) PEDL070 5% Limited Plc 18.3 shut in
------------- ---------- --------------- --------------- ----- ---------------------
Loxley Loxley/Godley
& Broadford Bridge gas
Bridge discovery,
(2, 3, UKOG (234) UKOG (234) BB-1/1z oil
7) PEDL234 100% Ltd (4) Ltd (4) 300 discovery
------------- ---------- --------------- --------------- ----- ---------------------
Horndean UKOG (GB) IGas Energy Field in stable
(1) PL211 10% Limited Plc 27.3 production
------------- ---------- --------------- --------------- ----- ---------------------
Horse Hill Horse Hill
Horse Developments Developments Field in stable
Hill (1)(,) PEDL137 85.635% Ltd Ltd 99.3 production
------------- ---------- --------------- --------------- ----- ---------------------
Horse Hill Horse Hill
Horse Developments Developments Field in stable
Hill (1)(,) PEDL246 85.635% Ltd Ltd 43.6 production
------------- ---------- --------------- --------------- ----- ---------------------
Planning application
submitted
Isle for Arreton
of Wight oil appraisal
(2, 3) PEDL331 95% UKOG UKOG 200 well
------------- ---------- --------------- --------------- ----- ---------------------
Appraisal
of Basur-Resan
oil discovery
Resan plus further
Turkey expl. prospects.
(2, 3, M-47-b1, UKOG Turkey Aladdin Middle Drilling planned
8) b2 50% Ltd East 305 in 2021
------------- ---------- --------------- --------------- ----- ---------------------
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,
production planning consent granted in September 2019, long-term
production consent granted in March 2020.
6. UKOG has a direct 77.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.
7. Gas discovery pending appraisal drilling and development with underlying Kimmeridge potential
8. High-impact oil appraisal project with an upside OIP range of
150-500 mmbbl gross with expected recovery factors of 10-20% of
OIP
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014
END
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