UK Oil & Gas PLC BB-1z discovery granted 2-year planning extension (1852M)
20 Maggio 2022 - 8:01AM
UK Regulatory
TIDMUKOG
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
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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END
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