UK Oil & Gas PLC Planning Consent Refused - Loxley Portland (4296R)
June 29 2020 - 11:43AM
UK Regulatory
TIDMUKOG
RNS Number : 4296R
UK Oil & Gas PLC
29 June 2020
UK Oil & Gas PLC
("UKOG" or the "Company")
Planning Consent Refused for Loxley Portland Gas Appraisal
Project
UK Oil & Gas PLC (London AIM: UKOG) notes that Surrey County
Council ("SCC") has today refused consent for the Company's
Loxley-1 appraisal project. The company is carefully considering
its position but has concerns over the validity of the decision
given the meeting's conduct, the lack of specific reasons for
refusal and reasons why the planning officer's recommendation was
overturned. It is likely that UKOG will appeal the decision via the
planning inspectorate.
Stephen Sanderson, UKOG's Chief Executive, commented:
" We are obviously disappointed by Surrey County Council's
refusal of planning consent for our Loxley-1 appraisal project. The
refusal was by a narrow 6-5 decision and against the Planning
Officer's recommendation. Unfortunately, the precise reason or
reasons for refusal and why the Planning Officer's recommendation
was overturned, remain unclear, which is less than ideal. The
meeting's general structure and conduct also opens up further
questions on the validity of the decision. We also note that the
Environment Agency granted the scheme a full environmental permit
on 26 June covering all environmental aspects of the proposed
scheme.
Furthermore, we note that the meeting's main discussion centred
around a possible highways issue regarding the suitability of the
Dunsfold road adjoining the site to accommodate the envisaged
traffic flows. However, the County Highways and Planning Officers
supported this aspect of the application, stating that the traffic
mitigation plan would permit safe use of the road during
operations.
As UKOG made clear at the meeting, we believe Loxley is a
material regional natural gas resource, which could have made, and
could still make, a timely contribution to Surrey and the UK's
recovery from the Covid-related economic downturn, something that
has affected everyone. It is particularly disappointing that such a
net zero compliant project, which could have been used to generate
clean hydrogen fuel for the UK, has had this setback."
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
Cenkos Securities PLC (Joint Broker)
Joe Nally / Neil McDonald Tel: 020 7397 8919
Novum Securities (Joint Broker)
John Belliss Tel: 020 7399 9400
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
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END
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