UK Oil & Gas PLC Broadford Bridge Planning Extension (4629S)
July 09 2020 - 02:00AM
UK Regulatory
TIDMUKOG
RNS Number : 4629S
UK Oil & Gas PLC
09 July 2020
UK Oil & Gas PLC
("UKOG" or the "Company")
Broadford Bridge Kimmeridge oil discovery granted 24-month
Planning Extension
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that West Sussex County Council's ("WSCC's") Planning Committee
have approved, by a significant 10-1 majority vote, a 2 year
planning permission extension to its Broadford Bridge-1/1z ("BB-1")
Kimmeridge oil discovery, located in licence PEDL234 (UKOG 100%).
The planning extension, which was recommended by WSCC's planning
officer, will expire on 31 March 2022.
In order to confirm the decision to further sidetrack and test
BB-1, UKOG will use the extension period to evaluate future
Kimmeridge well and test results, which are planned by both the
Company and other operators before March 2022.
Stephen Sanderson, UKOG's Chief Executive, commented:
"The Kimmeridge play, where UKOG holds industry leading
knowledge and an unrivalled acreage position within the sweet spot,
remains of primary Company interest. This extension will enable us
to incorporate key future well and test information into our
understanding of this new play before any further appraisal of our
BB-1 Kimmeridge discovery."
Qualified Person's Statement
Matt Cartwright, UKOG's Commercial Director, who has 37 years of
relevant experience in the global oil industry, has approved the
information contained in this announcement. Mr Cartwright is a
Chartered Engineer and member of the Society of Petroleum
Engineers.
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
UKOG Licence Interests
The Company has interests in the following UK licences:
Asset Licence UKOG Licence Operator Area Status
Interest Holder (km
(2)
)
Field currently
UKOG (GB) IGas Energy temporarily
Avington (1) PEDL070 5% Limited Plc 18.3 shut in
------------------------ ---------- -------------- -------------- ------ -------------------
BB-1/1z
oil discovery,
Loxley-1
Broadford Bridge/Loxley UKOG (234) UKOG (234) gas appraisal
(2, 3, 8) PEDL234 100% Ltd (4) Ltd (4) 300.0 well
------------------------ ---------- -------------- -------------- ------ -------------------
Finalising
new site
selection
to drill
Portland
and Kimmeridge
A24 (3) PEDL143 67.5% UKOG UKOG (7) 91.8 prospects
------------------------ ---------- -------------- -------------- ------ -------------------
UKOG (GB) IGas Energy Field in
Horndean (1) PL211 10% Limited Plc 27.3 stable production
------------------------ ---------- -------------- -------------- ------ -------------------
Horse Hill Horse Hill
Horse Hill Developments Developments Field in
(1) PEDL137 85.635% Ltd Ltd 99.3 stable production
------------------------ ---------- -------------- -------------- ------ -------------------
Horse Hill Horse Hill
Horse Hill Developments Developments Field in
(1) PEDL246 85.635% Ltd Ltd 43.6 stable production
------------------------ ---------- -------------- -------------- ------ -------------------
Planning
Application
submitted
for Arreton
oil appraisal
well, Godshill
Isle of Wight exploration
(Onshore) (2, application
3) PEDL331 95% UKOG UKOG 200.0 pending
------------------------ ---------- -------------- -------------- ------ -------------------
Notes:
1. Oil field currently in stable production.
2. Oil discovery pending development and/or appraisal drilling.
3. Exploration asset with drillable prospects and leads.
4. Contains the significant undeveloped Loxley Portland gas
discovery (delineated by Godley Bridge-1 and Alfold-1 discoveries),
the Broadford Bridge-1/1z Kimmeridge oil discovery, plus further
undrilled Kimmeridge and Portland exploration prospects.
5. Portland and Kimmeridge oil field in stable oil production
6. UKOG has a direct 77.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246.
7. OGA consent received for the transfer of operatorship from Europa to UKOG
8. Significant Portland gas discovery pending appraisal drilling
with significant underlying Kimmeridge potential
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.
END
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