Last checked at 10 Feb 2021 07:00
UK Oil & Gas PLC
("UKOG" or the "Company")
Loxley appeal submitted to Planning Inspectorate
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce today that, further to its announcement of 17th December 2020, the Company has now lodged an appeal with the Planning Inspectorate against Surrey County Council's ("SCC") 15th December 2020 decision to refuse planning consent for the Loxley gas appraisal project. Pandemic permitting, the expectation is that a public inquiry will be held in the autumn, with a decision by the end of 2021.
Leading Counsel continues to advise that there are strong grounds to expect a positive appeal outcome, as SCC's cited grounds for refusal are in direct conflict with the advice of its professional Planning and Highway Officers and their respective recommendations for approval.
UKOG's submitted Statement of Case can be viewed on its website:
https://www.ukogplc.com/
As previously reported on 19th September 2020, in terms of recoverable gas resources, Loxley, 100%-owned by UKOG, is estimated to be one of the largest gas accumulations discovered and flow tested in the UK onshore. Its success case is estimated to be capable of providing energy to power around 200,000 homes per year.
Furthermore, as stated at the SCC planning committee meetings of 29th June and 27th November 2020, the Company envisages Loxley could play its part in helping achieve net-zero via the supply of gas feedstock for reformation into clean burning hydrogen, an energy source with an 85% reduction in related carbon emissions versus natural gas.
Loxley's and other UK domestic gas also provide a much lower carbon-footprint hydrogen feedstock option than imports, having approximately a quarter of the carbon emissions of imported liquefied natural gas.
Stephen Sanderson UKOG's Chief Executive commented:
"We take comfort that the future of Loxley as a low-impact hydrogen feedstock project will now be decided by a professional planning inspector, who must consider hard facts, not fiction, and arrive at a decision that is wholly consistent with the objective evidence presented. Our planning case is strong and we remain confident of a positive result."
For further information, please contact:
UK Oil & Gas PLC |
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Stephen Sanderson / Kiran Morzaria
| Tel: 01483 941493 |
WH Ireland Ltd (Nominated Adviser and Broker) |
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James Joyce / James Sinclair-Ford
| Tel: 020 7220 1666 |
Communications |
|
Brian Alexander | Tel: 01483 941493 |
|
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UKOG Licence Interests
The Company has interests in the following UK and international licences:
Asset | Licence | UKOG Interest | Licence Holder | Operator | Area (km2) | Status |
Avington 1 | PEDL070 | 5% | UKOG (GB) Limited | IGas Energy Plc | 18.3 | Field temporarily shut in |
Loxley & Broadford Bridge 2, 3, 7 | PEDL234 | 100% | UKOG (234) Ltd 4 | UKOG (234) Ltd 4 | 300 | Loxley/Godley Bridge gas discovery, BB-1/1z oil discovery |
Horndean 1 | PL211 | 10% | UKOG (GB) Limited | IGas Energy Plc | 27.3 | Field in stable production |
Horse Hill ¹, ⁵ | PEDL137 | 85.635% | Horse Hill Developments Ltd ⁶ | Horse Hill Developments Ltd ⁶ | 99.3 | Field in stable production |
Horse Hill ¹, ⁵ | PEDL246 | 85.635% | Horse Hill Developments Ltd ⁶ | Horse Hill Developments Ltd ⁶ | 43.6 | Field in stable production |
Isle of Wight 2, 3 | PEDL331 | 95% | UKOG | UKOG | 200 | Planning application submitted for Arreton oil appraisal well |
Resan Turkey 2, 3, 8 | M-47-b1, b2 | 50% | UKOG Turkey Ltd | Aladdin Middle East | 305 | Appraisal of Basur-Resan oil discovery plus further expl. prospects. Drilling planned in 2021 |
Notes:
1. Oil field currently in stable production.
2. Oil discovery pending development and/or appraisal drilling.
3. Exploration asset with drillable prospects and leads.
4. Contains the Loxley Portland gas accumulation, the Broadford Bridge-1/1z Kimmeridge oil discovery, plus further undrilled Kimmeridge exploration prospects.
5. Portland and Kimmeridge oil field with productive and commercially viable zones, HH-1 in stable oil production, production planning consent granted in September 2019, long-term production consent granted in March 2020.
6. UKOG has a direct 77.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.
7. Gas discovery pending appraisal drilling and development with underlying Kimmeridge potential
8. High-impact oil appraisal project with an upside OIP range of 150-500 mmbbl gross with expected recovery factors of 10-20% of OIP
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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