UK Oil & Gas (UKOG)

Sector:

IT Hardware

Index:

FTSE AIM All-Share

0.065p
   
  • Change Today:
      0.008p
  • 52 Week High: 1.15
  • 52 Week Low: 0.050
  • Currency: UK Pounds
  • Shares Issued: 3,460.96m
  • Volume: 25,107,908
  • Market Cap: £2.25m

High Court upholds UK Oil & Gas planning consent for Loxley

By Josh White

Date: Friday 14 Oct 2022

LONDON (ShareCast) - (Sharecast News) - UK Oil & Gas announced on Friday that the High Court had rejected legal challenges by Protect Dunsfold and Waverley Borough Council against the decision to grant planning permission for Loxley - a conventional gas and hydrogen feedstock project in Surrey.
The AIM-traded firm said Loxley planning consent thus remained in full force, and the company's plans to implement the project remained unchanged.

It said Mrs Justice Lang considered both challenges as "unarguable", and ordered Waverley and Protect Dunsfold to pay costs of a respective £8,835 and £3,000.

The result followed the decision in June by Stuart Andrew, the Minister for Housing, to overturn Surrey County Council's refusal of planning consent.

UKOG said it had "consistently stated" that Loxley could "play its part" in the government's hydrogen and British energy security strategies, via the supply of gas as feedstock for reformation into clean burning hydrogen.

It was the company's and its legal counsel's view that, while further challenges by either claimant were expected, the "emphatic rulings" of both the secretary of state and the High Court made the likelihood of their success "highly doubtful".

In any case, the firm said it would continue to "rigorously defend" its position in any subsequent action as and when it might occur.

"We welcome this further emphatic legal decision upholding planning consent for the company's material conventional gas and hydrogen feedstock project in Surrey," said chief executive officer Stephen Sanderson.

"Whilst we fully accept the right to review such material decisions, it cannot be fair or just that opponents to the decision are given so many opportunities to make the same argument repeatedly and seemingly regardless of prior dismissals.

"We therefore urge the government to swiftly implement its proposed changes to the planning system for key infrastructure projects if it is serious about delivering energy self-sufficiency and associated meaningful economic growth."

At 1251 BST, shares in UK Oil & Gas were up 0.69% at 0.07p.

Reporting by Josh White at Sharecast.com.

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UK Oil & Gas Market Data

Currency UK Pounds
Share Price 0.065p
Change Today 0.008p
% Change 13.04 %
52 Week High 1.15
52 Week Low 0.050
Volume 25,107,908
Shares Issued 3,460.96m
Market Cap £2.25m

UK Oil & Gas Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.53% above the market average76.53% above the market average76.53% above the market average76.53% above the market average76.53% above the market average
90.91% above the sector average90.91% above the sector average90.91% above the sector average90.91% above the sector average90.91% above the sector average
Price Trend
98.4% below the market average98.4% below the market average98.4% below the market average98.4% below the market average98.4% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
35.74% above the market average35.74% above the market average35.74% above the market average35.74% above the market average35.74% above the market average
12.00% above the sector average12.00% above the sector average12.00% above the sector average12.00% above the sector average12.00% above the sector average

UK Oil & Gas Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:29 63,108 @ 0.070p
16:26 134,742 @ 0.070p
15:40 4,285 @ 0.070p
15:40 20,000 @ 0.070p
15:40 1,892 @ 0.060p

UK Oil & Gas Key Personnel

CEO Stephen (Steve) Sanderson

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