UK Oil & Gas surges as court refuses Horse Hill appeal
Updated : 14:32
UK Oil & Gas announced on Friday that the long-running appeal to overturn the December 2020 judicial review judgement, upholding the legality of Horse Hill's planning consent, had been refused by the Court of Appeal.
The AIM-traded firm said the judgement meant the planning consent for Horse Hill oil production was granted entirely lawfully and, as such, confirmed that Horse Hill could remain operational until the end of its commercial field life.
It holds an 85.635% operated interest in Horse Hill, and the surrounding PEDL137 licence.
“I'm delighted that justice has again prevailed for UKOG in this matter,” said chief executive officer Stephen Sanderson.
“This latest judgement in UKOG's favour comes after more than two years in which Finch et al have sought to stop the company's oil production at Horse Hill.
“Given that during this time five judges have found against their case, one cannot help but wonder why they have been permitted so many repeated bites at the same legal cherry.
“That seems at very least unfair and perhaps is also somewhat unjust.”
At 1410 GMT, shares in UK Oil & Gas were up 26.09% at 0.15p.