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   Tel: 01483 941493 
   D Howard 
  WH Ireland Ltd (Nominated Adviser and 
  James Joyce / Andrew de Andrade            Tel: 020 7220 1666 
  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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(END) Dow Jones Newswires

May 20, 2022 02:01 ET (06:01 GMT)

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