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

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PEDL234 Loxley drilling deadline extended 2 years

Mon, 21st Jun 2021 07:01

RNS Number : 4594C
UK Oil & Gas PLC
21 June 2021
 

 UK Oil & Gas PLC

("UKOG" or the "Company")

 

PEDL234 Loxley drilling commitment deadline extended by two years

 

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that the Oil and Gas Authority has granted a two-year extension to the time period in which the Company's 100% interest PEDL234 Loxley-1 gas appraisal well must commence. In order to satisfy the licence's Retention Area programme, Loxley-1 drilling must now commence before 31st December 2023.

 

The drilling extension was granted in response to delays beyond the Company's control caused by both the pandemic and by the Company's appeal to the Planning Inspectorate against Surrey County Council's ("SCC") decision on 15th December 2020 to refuse planning consent for the Loxley gas appraisal drilling project.

 

The Company now looks forward to presenting a robust case for the grant of Loxley planning consent to the Planning Inspector at the forthcoming public inquiry, due to commence on 27th July 2021.

 

Senior legal counsel continues to advise that, given SCC's cited reasons for refusal, there are strong grounds to expect a positive inquiry outcome for the Company.

 

UKOG's Statement of Case as submitted to the Planning Inspectorate in February 2021 as part of the appeal process can be viewed on its website:

https://www.ukogplc.com/ 

 

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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