Nominations for the plc awards 2021 are now open! See the 2021 award categories and criteria here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksUk Oil & Gas Regulatory News (UKOG)

Share Price Information for Uk Oil & Gas (UKOG)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 0.1075
Bid: 0.105
Ask: 0.11
Change: 0.00 (0.00%)
Spread: 0.005 (4.76%)
Open: 0.108
High: 0.1075
Low: 0.10
Prev. Close: 0.1075
UKOG Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

RNS Alerts are a premium feature

Login to your account

myTerminal is a premium feature

Login to your account

Don't have an account? Click here to register.

Appeal against Loxley planning decision

Thu, 17th Dec 2020 07:00

RNS Number : 9252I
UK Oil & Gas PLC
17 December 2020
 

UK Oil & Gas PLC

("UKOG" or the "Company")

 

Appeal against Loxley planning decision

 

UK Oil & Gas PLC (London AIM: UKOG) today announces that following detailed consultations with the Company's QC and planning advisers, the Company will now launch an appeal against Surrey County Council's ("SCC") 15 December 2020 decision to refuse planning consent for the Company's 100% owned Loxley gas appraisal project. The Company plans to submit an appeal to the Planning Inspectorate early in the New Year, with an expectation that a public hearing or inquiry will be held in the following 6-9 months.

 

Leading Counsel has advised that there are strong grounds to expect a positive appeal outcome, as the cited grounds for refusal are in direct conflict with both SCC's Planning and Highway Officer's reports and the Officers' two separate recommendations for approval.

 

An appeal will enable an independent professional inspector from the Planning Inspectorate to consider the evidence and come to an objective, evidence-based decision which determines whether the temporary Loxley development meets the requirements of the Town and Country Planning Act and other relevant policy guidance.

 

At both the 29 June and 27 November 2020 SCC planning committee meetings, UKOG also highlighted the role that a successful Loxley gas project would play in the government's low-carbon hydrogen policy, in which natural gas is reformed into clean burning hydrogen, with an envisaged 85% saving in related carbon emissions. Domestic gas has approximately a quarter of the carbon emissions of imported liquefied natural gas.

 

The importance of such domestic gas as part of the net zero transition was further underscored by this week's Written Ministerial Statement and Energy White Paper, in which it was acknowledged: "The UK's domestic oil and gas industry has a critical role in maintaining the country's energy security and is a major contributor to the economy".

 

It continued: "The projections for demand for oil and gas, though much reduced, is forecast to continue for decades to come", adding: "We will therefore make sure the natural gas markets and networks evolve in a way which enables continued investment and ensure secure supplies but also promotes the use of low-carbon options (i.e. hydrogen), wherever possible". The government also reaffirmed its position that low-carbon hydrogen would be required as part of the transition to net zero.

 

Further updates will be issued in due course.

 

Stephen Sanderson UKOG's Chief Executive commented:

 

"Although not ideal in terms of speed, the appeal process at least ensures Loxley's case will be assessed by a competent and independent inspector who will deliver an evidence-based decision that is not unduly swayed by unsubstantiated and emotive local argument.

 

We trust that any future decision will also consider the needs of the many who could benefit from a successful Loxley project's affordable, low-impact, low-carbon energy, as well as those of the privileged few."

 

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

 

 

 

 

 

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

 

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.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCVQLFFBLLEFBE
Date   Source Headline
24th Nov 20213:02 pmRNSBoard and Management Changes
20th Oct 20217:00 amRNSIsle of Wight Council reject Arreton application
12th Oct 20219:05 amRNSSecond Price Monitoring Extn
12th Oct 20219:00 amRNSPrice Monitoring Extension
11th Oct 20212:05 pmRNSSecond Price Monitoring Extn

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.