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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
11th Jun 20197:00 amRNSHorse Hill-1 - 50,000 Barrels of Oil Production
3rd Jun 20197:00 amRNSAcquisition of Further Interest in PEDL143
17th May 20197:00 amRNSHorse Hill-1 Production Test Update
16th Apr 20197:00 amRNSAcquisition of Further Interest in PEDL143
11th Apr 20192:46 pmRNSResult of Annual General Meeting
11th Apr 20197:00 amRNSOil Production Test Update
27th Mar 20197:00 amRNSSuccessful Placing to Raise £3.5 Million
19th Mar 201912:26 pmRNSPosting of Annual Report and Accounts & AGM Notice
15th Mar 20197:10 amRNSOil Production Update
15th Mar 20197:00 amRNSFinal Results for the year ended 30 September 2018
12th Mar 20194:41 pmRNSSecond Price Monitoring Extn
12th Mar 20194:35 pmRNSPrice Monitoring Extension
21st Feb 20197:00 amRNSCompletion of Acquisition in Horse Hill
18th Feb 20197:00 amRNSPortland Oil Production Resumes at Horse Hill
14th Feb 20197:00 amRNSAcquisition of Further Interest in Horse Hill
11th Feb 20199:05 amRNSSecond Price Monitoring Extn
11th Feb 20199:00 amRNSPrice Monitoring Extension
8th Feb 20192:05 pmRNSSecond Price Monitoring Extn
8th Feb 20192:00 pmRNSPrice Monitoring Extension
8th Feb 201911:05 amRNSSecond Price Monitoring Extn
8th Feb 201911:00 amRNSPrice Monitoring Extension
1st Feb 20193:28 pmRNSRelated Party Contractor Agreement
23rd Jan 201911:01 amRNS2019-2020 Strategy and Drilling Plans
22nd Jan 20199:00 amRNSCompletion of Arreton Oil Discovery Acquisition
16th Jan 20197:00 amRNSKimmeridge Oil Production Continues at HH-1
12th Dec 20187:00 amRNSAcquisition of Interest in Arreton Oil Discovery
15th Nov 20187:00 amRNSEWT Update, Portland & Kimmeridge Oil Discovery
18th Oct 20187:00 amRNSPortland Declared Commercially Viable
15th Oct 201811:35 amRNSHolding(s) in Company
10th Oct 20181:55 pmRNSEWT Update: Horse Hill-1
8th Oct 20189:57 amRNSHolding(s) in Company
8th Oct 20189:55 amRNSHolding(s) in Company
5th Oct 201811:30 amRNSExtended Well Test and Regulatory Update
25th Sep 20187:00 amRNSCompletion of Disposal of Interest in HHDL to UKOG
25th Sep 20187:00 amRNSCompletion of Disposal of Interest in HHDL to UKOG
25th Sep 20187:00 amRNSCompletion of Further Interest in HHDL
11th Sep 20184:24 pmRNS18-month Planning Extension Approved
10th Sep 201812:30 pmRNSEWT Updates, Portland & Kimmeridge Oil Discovery
6th Sep 20186:03 pmRNSExercise of Warrants
4th Sep 201811:22 amRNSUpdate - Holmwood Licence (PEDL 143)
3rd Sep 201812:24 pmRNSHigh Court Grants Interim Injunction
30th Aug 20187:00 amRNSAcquisition of Further Interest in Horse Hill
29th Aug 20189:05 amRNSSecond Price Monitoring Extn
29th Aug 20189:00 amRNSPrice Monitoring Extension
24th Aug 20184:40 pmRNSSecond Price Monitoring Extn
24th Aug 20184:35 pmRNSPrice Monitoring Extension
20th Aug 20187:00 amRNSAcquisition of Further Interest in HHDL
13th Aug 20182:00 pmRNSExercise of Warrants
3rd Aug 201811:30 amRNSPortland high-rate flow test successfully complete
31st Jul 20182:00 pmRNSSchedule 1 Update - UK Oil & Gas Plc

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