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UK Oil & Gas PLC - London-based exploration and production company focused on UK and Turkey - Says UK Court of Appeal has refused permission for any further appeal against the grant of planning consent for UKOG's Loxley conventional gas and hydrogen feedstock project in Surrey. Court's decision is final and cannot be appealed or reviewed, so planning permission will now remain in full force and effect. Order upholds the High Court's in late July which likewise refused permission to appeal. Loxley forms part of UKOG's move into hydrogen, alongside its Portland storage project in Dorset, and will supply gas as feedstock for reformation into clean burning hydrogen.
Chief Executive Stephen Sanderson says: "We are pleased that Lord Justice Stuart-Smith has once again dismissed the legal challenge to our Loxley project and has confirmed that its planning consent is entirely lawful, as the company and its counsel has maintained. We believe that a successful project will be beneficial to local and national level energy and economic interests and is fully in keeping with the government's hydrogen, energy security and net zero strategies."
Current stock price: 0.028 pence, up 6.5% on Tuesday afternoon
12-month change: down 54%
By Emma Curzon, Alliance News reporter
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