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

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Date for Loxley planning consent redetermination

16 Oct 2020 07:00

RNS Number : 2634C
UK Oil & Gas PLC
16 October 2020
 

UK Oil & Gas PLC

("UKOG" or the "Company")

 

November date for Loxley planning consent redetermination

 

UK Oil & Gas PLC (London AIM: UKOG) announces that following Surrey County Council's ("SCC") 3rd August decision to redetermine the Company's Loxley gas appraisal planning application, SCC have now confirmed to UKOG that the rerun is scheduled for 27th November 2020.

This unprecedented rerun decision was taken by SCC following receipt of external advice regarding the Company's and over 100 other formal complaints questioning the lawfulness of SCC's 29th June planning committee meeting ("PCM"). During this PCM the members voted by 6 to 5 against SCC's planning officer's recommendation to consent to UKOG's development.

 

Loxley: a material UK gas resource

 

As per the Company's 21st October announcement, an Xodus report estimates that the Company's 100% held PEDL234 licence contains significant calculated mean and high case recoverable gas volumes of 34 billion cubic feet ("bcf") and 54 bcf respectively, placing Loxley as the second largest gas accumulation ever discovered and flow tested in the UK onshore. Xodus calculate that approximately 78% of the overall Loxley gas accumulation lies within PEDL234.

 

Stephen Sanderson UKOG's Chief Executive commented:

 

"Despite the further delay to the PCM rerun, UKOG welcomes the opportunity to restate why its low footprint Loxley gas project is of material local and national economic importance, representing an opportunity to power around 200,000 Surrey homes from Net Zero compliant UK gas. The submitted development presents minimal visual, local business and highway impacts and already has a full environmental permit from the Environment Agency."

 

PEDL143 Update (UKOG 67.5%)

 

A detailed study examining the viability of drilling the A24 (formerly Holmwood) Portland prospect's centre from selected sites outside the Surrey Hills Area of Outstanding Natural Beauty, each over 3 km from the target, concludes that the required long-reach/shallow target-depth wells are neither technically viable or economically feasible. Consequently, UKOG and its partners have now relinquished their interests in the licence. It remains a great disappointment to the Company that the licence's former operator, Europa Oil and Gas, whilst in possession of planning consent, failed to drill the prospect from the Holmwood site, around 1 km from the target.

 

Qualified Person's Statement

 

Matt Cartwright, UKOG's Commercial Director, who has 37 years of relevant experience in the global oil industry, has approved the information contained in this announcement. Mr Cartwright is a Chartered Engineer and member of the Society of Petroleum Engineers.

 

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

 

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MSCFLFSRIELELII
Date   Source Headline
27th Mar 20247:00 amRNSLoxley Gas Project Update
19th Mar 20245:00 pmRNSBroadford Bridge Planning Update
13th Mar 20249:29 amRNSLoan Reduction via Equity Share Subscription
5th Mar 20243:28 pmRNSResult of Reconvened General Meeting
1st Mar 20247:00 amRNSRevised Timetable for Capital Restructuring
23rd Feb 20241:01 pmRNSNotice of General Meeting Resumption
22nd Feb 20244:37 pmRNSEmployee Benefit Trust Share Subscription
16th Feb 20241:54 pmRNSGeneral Meeting Adjournment
2nd Feb 20242:08 pmRNSPinarova-1 Testing Operations Update
1st Feb 20241:53 pmRNSProposed Capital Reorganisation
23rd Jan 20243:48 pmRNSLoan Balance Reduction via Equity Share Issue
23rd Jan 20247:00 amRNSPinarova-1 Testing Operations Commence
12th Jan 20247:00 amRNSSuccessful Placing
11th Jan 20247:00 amRNSTurkey: Pinarova-1 Testing
10th Jan 202411:39 amRNSEquity Share Issue and Reduction in Loan Balance
9th Jan 20242:00 pmRNSCourt of Appeal Upholds Loxley Planning Consent
3rd Jan 20241:04 pmRNSTurkey: Pinarova-1 Operations Re-Commence
15th Dec 20237:00 amRNSTurkey: Pinarova-1 Testing Update
12th Dec 20237:00 amRNSHorse Hill Work Programme Extended by NSTA
11th Dec 20237:00 amRNSHorse Hill Farmin Update
8th Dec 20237:00 amRNSHorse Hill Developments Update
21st Nov 20237:00 amRNSTurkey: Pinarova-1 Testing Latest
3rd Nov 202312:13 pmRNSEquity Share Issue
13th Oct 20237:00 amRNSTurkey: Pinarova-1 Testing Update
22nd Sep 20237:00 amRNSTurkey: Pinarova-1 Testing Update
3rd Aug 20238:01 amRNSLoxley High Court Update
20th Jul 202310:44 amRNSHigh Court upholds Loxley Planning Consent
13th Jul 20237:00 amRNSAvington Oil Production to Restart
28th Jun 20237:00 amRNS£3 million funding facility
26th Jun 20232:13 pmRNSUnaudited results six-month ended 31 March 2023
21st Jun 20237:00 amRNSHorse Hill Update
8th Jun 20237:00 amRNSLoxley High Court hearing
23rd May 20239:06 amRNSTurkey: Pinarova-1 Testing Update
5th May 202312:12 pmRNSResult of Annual General Meeting
3rd May 20237:00 amRNSTurkey: Pinarova-1 Update
25th Apr 202312:30 pmRNSHolding(s) in Company
25th Apr 202312:13 pmRNSTurkey: Pinarova-1 drilling ahead
24th Apr 20237:00 amRNSHolding(s) in Company
21st Apr 20238:40 amRNSTurkey: Pinarova-1 oil shows & testing
18th Apr 202311:51 amRNSTurkey: Pinarova-1 casing set
13th Apr 202312:56 pmRNSHolding(s) in Company
13th Apr 20239:39 amRNSTurkey: Pinarova-1 reaches first casing point
11th Apr 20237:05 amRNSNotice of Annual General Meeting
11th Apr 20237:00 amRNSTurkey: Pinarova-1 drilling commences
5th Apr 20234:51 pmRNSHolding(s) in Company
3rd Apr 20237:00 amRNS2022 Annual Report and Accounts
31st Mar 20234:44 pmRNSAnnual Accounts for year ended 30 September 2022
31st Mar 20237:00 amRNSTurkey: Pinarova-1 construction completed
30th Mar 20231:44 pmRNSHolding(s) in Company
28th Mar 20237:37 amRNSHorse Hill Farmout

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