Share Prices & Company Research

Market News

10 Feb 2021 | 15:38

UK Oil & Gas lodges appeal against Surrey County Council

(Sharecast News) - UK Oil & Gas said on Wednesday that it had now lodged an appeal with the Planning Inspectorate against Surrey County Council's 15 December decision to refuse planning consent for the Loxley gas appraisal project. The AIM-traded firm said that, Covid-19 pandemic permitting, it expected a public inquiry to be held in the autumn, with a decision by the end of 2021.

It said its leading counsel was still advising that there were "strong grounds" to expect a positive appeal outcome, as the council's cited grounds for refusal were in "direct conflict" with the advice of its professional planning and highway officers, and their respective recommendations for approval.

As it said in September, in terms of recoverable gas resources, UKOG's wholly-owned Loxley was estimated to be one of the largest gas accumulations discovered and flow tested in the UK onshore.

Its success case was estimated to be capable of providing energy to power around 200,000 homes per year.

"We take comfort that the future of Loxley as a low-impact hydrogen feedstock project will now be decided by a professional planning inspector, who must consider hard facts, not fiction, and arrive at a decision that is wholly consistent with the objective evidence presented," said chief executive officer Stephen Sanderson.

"Our planning case is strong and we remain confident of a positive result."

At 1157 GMT, shares in UK Oil & Gas were up 0.38% at 0.13p.
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
Continuing our Personal Service: View our Latest COVID-19 Update: 30th April 2021
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.