REG - UK Oil & Gas PLC - BB-1z discovery granted 2-year planning extension

UK Oil & GasAnnouncement

20/05/2022 07:00

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RNS Number : 1852M  UK Oil & Gas PLC  20 May 2022

UK Oil & Gas PLC

("UKOG" or the "Company")

 

BB-1z discovery granted 2-year planning extension

 

UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that West
Sussex County Council ("WSCC") has approved, by a 7-2 majority vote, a 2-year
planning permission extension to its Broadford Bridge-1z ("BB-1z") Kimmeridge
oil discovery, located in licence PEDL234 (UKOG 100%). The planning extension
runs until 31(st) March 2024.

 

The additional 2 years will permit any learnings from possible future
Kimmeridge drilling at both the Company's nearby Loxley conventional gas and
Horse hill oil fields to be factored into the Company's future Broadford
Bridge plans. As previously reported on 11(th) March 2022, the Company is
currently awaiting a final decision on its appeal against Surrey County
Council's refusal of planning consent for the Loxley gas project by the
Secretary of State for Levelling Up, Housing and Communities ("SoS"). The
Planning Inspectorate advised the Company in March 2022 that they expect the
SoS to issue his decision on or before 7 June 2022.

 

In accord with the Company's stated plans to diversify into the provision of
sustainable green energy in the UK, the extension will also permit conceptual
plans for the supply of heat energy from BB to a possible new large scale
greenhouse end-user to be further developed. The early-stage concept includes
use of the BB drilling pad to site several new stand-alone deep geothermal
wells.

 

For further information, please contact:

 

   UK Oil & Gas PLC
   Stephen Sanderson / Matt Gormley / Allen D Howard   Tel: 01483 941493

   WH Ireland Ltd (Nominated Adviser and Broker)
   James Joyce / Andrew de Andrade                     Tel: 020 7220 1666

   Communications
   Brian Alexander                                     Tel: 01483 941493

 

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the “UK MAR”) which is part of
UK law by virtue of the European Union (Withdrawal) Act 2018. The information
is disclosed in accordance with the Company’s obligations under Article 17
of the UK MAR. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

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