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LOXLEY LATEST: High Court judge has REFUSED Protect Dunsfold permission to appeal the decision of 20 July 2023 which upheld legality of Loxley conventional gas project’s planning consent. The judge also ordered Waverley BC to pay costs of £3,000 to UKOG. https://tinyurl.com/4eemabca

Loxley High Court Update

UK Oil & Gas PLC (London AIM: is pleased to announce that further to the High Court's 20(th) July 2023 decision upholding the legality of the Loxley conventional gas and hydrogen feedstock project's planning consent, the judge, the Hon. Mrs Justice Steyn DBE, has refused Protect Dunsfold permission to appeal the decision.

In refusing an appeal, Mrs Justice Steyn stated, " the proposed appeal has no real prospect of success, and I am not persuaded there is any other compelling reason to grant permission." She also ordered Waverley Borough Council, a claimant under the prior action, to pay costs of GBP3,000 to UKOG.

This latest decision follows the October 2022 ruling of Mrs Justice Lang, who dismissed challenges by the same claimants and also ordered them to pay costs.

Loxley planning consent continues to remain in full force and the Company's plans to implement the project remain unchanged.

UKOG has consistently stated that Loxley can play its part in the government's Hydrogen and British Energy Security Strategies via the supply of its gas as feedstock for reformation into clean burning hydrogen. Loxley's hydrogen potential forms part of the Company's move into the hydrogen space along with its Dorset hydrogen storage and Hydrogen Battery project.

There was a young guy who dug a hole for himself in the sand on the East coast. The hole collapsed on him, the tide was coming in.

He kept his cool , others were around, they dug him out.

But you don't want to have your head in the sand when the tide comes in.

Angus's tide will come in, imho.

Alba's Executive Chairman, George Frangeskides, commented:

"We have always made it clear, as GreenRoc's major shareholder, that we will look to support GreenRoc's fundraising efforts when it is feasible to do so. The GreenRoc management team has consistently delivered excellent results and made great strides at what is turning into a world-class graphite project at Amitsoq. With a completed preliminary economic assessment or PEA due to be delivered soon and graphite samples being prepared for a potential international off-take customer, Amitsoq is well set to make another quantum leap forward during the remainder of this year."

Https://www.londonstockexchange.com/news-article/ALBA/groc-update-share-placing/16066185

To be where we are now in terms of the share price is disappointing, given all that the company has achieved to get this far.

Need to optimise revenues, minimise costs, generate healthy cash flow on a regular basis.

Personally, not concerned about debt. They have to meet their obligations, of course, but it they pay off existing debt with new, less expensive debt, that would make a lot of sense.

Wouldn't be here if I didn't think that.

Temporary suspension this morning because of delay in publication of its results.

https://www.londonstockexchange.com/news-article/TGR/temporary-suspension-of-listing/16064647

May not have helped GROC, off 0.20p at 3.75p.

All clear:

The £3.5 million derivative payment was the final payment for hedge volumes not delivered in Q3 2022 when production start-up was delayed. Since then, Angus has always met its monthly hedge commitments, so there are no other past months to consider.

... running costs/month are not yet stabilized because of (1) additional costs related to commissioning the plant and optimizing performance; (2) the relatively high costs of producing the new B7 well through a temporary flowline while the well cleans up and the permanent flowline is constructed (expected to enter service at the end of August 2023); completion of the project to commission a gas generator in the next 2- 3 months will reduce energy costs and allow Saltfleetby to generate its own power. There will be a big focus on costs in the second half of this year.

Quite a range of topics covered, thoughtful, considered responses - well done!

Cashintime,

With all due respect, this is far from being the first time you have expressed such thoughts.

And I acknowledge, this is far from being the first time I have responded with my own.

If you can obtain, say, about 15% of shareholders' votes under your control, then you may be in a position to try to do something.

Picked up towards the close, + 6.9% at 72.39p (after a couple of days of significant declines):

https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5419497

... The Prime Minister and Energy Security Secretary Grant Shapps will meet energy industry leaders throughout the week - including oil and gas, renewables and nuclear businesses – to ensure the UK is capitalising on opportunities to bolster our energy infrastructure now, and boosting our long-term energy independence, security and prosperity in the years to come ...

https://www.gov.uk/government/news/energy-security-push-to-boost-economic-growth

The search for the perforation guns began (RNS of 03/05) in the week of the King's coronation. A twitter update would do no harm, even if it says little more than that the delay has proven longer than anticipated.

Chesh,

They've never spoken of offshore so, no, I don't think that is at all likely.

In the past, they have spoken of going wherever the opportunities arise but I suspect the Levy will mean they focus on UK investment opportunities, in order to keep their tax bill down.

This is all uncertain but could:

1/ help sentiment in the sector;

2/ contribute perhaps to a less negative regulatory stance for the sector;

3/ be a factor to consider in external growth decision-making.

The water in the boxes is stagnating.

1 of 4 articles on critical materials on Bloomberg's home page.

... Critical materials include:

Lithium, graphite, cobalt, nickel and manganese — used predominantly in EV batteries ...

https://www.bloomberg.com/news/articles/2023-05-05/why-the-fight-for-critical-minerals-is-heating-up?sref=Em01M8Hr

1/2 page article in the Sunday Times business section, page 6: "We're too mesmerised by Musk".