REG - UK Oil & Gas PLC - PEDL234 Loxley drilling deadline extended 2 years
RNS Number : 4594CUK Oil & Gas PLC21 June 2021UK 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:
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
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.ENDMSCVVLFFFQLLBBL
Recent news on UK Oil & Gas
See all newsREG - UK Oil & Gas PLC - Notice of Annual General Meeting
AnnouncementREG - UK Oil & Gas PLC - Employee Benefit Trust Share Subscription
AnnouncementREG - UK Oil & Gas PLC - Loan Reduction Update
AnnouncementREG - UK Oil & Gas PLC - Loxley Gas Project Update
AnnouncementREG - AIM - AIM Notice - 26/04/2024
Announcement