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UK Oil & Gas PLC (London AIM: UKOG) is delighted to announce that the Company s wholly owned subsidiary, UKOG Turkey Ltd, has received notice that formal government consent for the Company s acquisition of a 50% interest in the 305 km² Basur-Resan oil appraisal and exploration licence, ( Licence ), has now been granted via official decree. Forthwith, together with the operator, Aladdin Middle East Ltd ( AME ), the Company is a named party to the Licence, officially designated as AR/AME/K/M47-b1, b2.
As per the Company s 14 October 2020 announcement, the board views the Licence s forthcoming 2021 appraisal drilling programme, aimed initially at proving the commerciality of the Basur-Resan oil discovery, to present a compelling and potentially transformational growth opportunity for the Company.
An activist s effort to block oil drilling near London s Gatwick Airport on the grounds that it would worsen climate change was rejected.
(Bloomberg) An activist’s effort to block oil drilling near London’s Gatwick Airport on the grounds that it would worsen climate change was rejected.
A High Court judge dismissed a legal challenge from Sarah Finch, supported by the Weald Action Group, to the development of the Horse Hill field, its main investor U.K. Oil & Gas Plc said on Tuesday.
While the judgment was a victory for the industry, climate-based suits against oil and gas producers are proliferating across Western Europe. Norway’s Supreme Court is due to give a ruling later on Tuesday on a challenge to Arctic drilling. Royal Dutch Shell Plc has been taken to court in the Netherlands in an effort to reduce its carbon footprint.