---
title: "UK Oil & Gas PLC (AIM:UKOG) PEDL234 Loxley gas discovery update"
publisher: "Share Talk"
author: "sharetalk"
published: "2023-02-01T07:19:25+00:00"
modified: "2023-02-01T07:19:25+00:00"
date: 2023-02-01
canonical: "https://www.share-talk.com/uk-oil-gas-plc-aimukog-pedl234-loxley-gas-discovery-update/"
category: "Energy"
categories: ["Energy"]
tags: ["East Sadak", "Environment Agency", "Horse hill", "Kimmeridge", "Loxley", "natural gas", "oil", "Stephen Sanderson", "Surrey County Council", "turkey", "Turkish", "UK Oil & Gas", "UK Oil & Gas PLC", "UKOG", "Weald Basin", "Xodus Group"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# UK Oil & Gas PLC (AIM:UKOG) PEDL234 Loxley gas discovery update

**Published:** February 1, 2023
**Author:** sharetalk
**Categories:** Energy
**Tags:** East Sadak, Environment Agency, Horse hill, Kimmeridge, Loxley, natural gas, oil, Stephen Sanderson, Surrey County Council, turkey, Turkish, UK Oil & Gas, UK Oil & Gas PLC, UKOG, Weald Basin, Xodus Group
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1)

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**UK Oil & Gas PLC (London AIM: UKOG)** is pleased to announce that the North Sea Transition Authority (“NSTA”) has granted its consent to a modified PEDL234 Retention Area (“RA”) work programme. The revision will permit the Company to focus licence activities entirely upon the acceleration of the planned appraisal campaign of its material 100%-owned Loxley gas discovery.

In accordance with the revised RA programme, the Company has agreed to commence the Loxley-1 appraisal well by 30th June 2024. Loxley-1, designed to confirm the commercial viability of the discovery, is planned to be completed as a future production well, one of only two wells required to produce Loxley’s entire estimated material recoverable gas resources (see the Annual Report and Accounts Table 2 and RNS of 20th September 2020). The second production well, designed to maintain the desired plateau gas production rate, must be drilled by summer 2029.

In the event Loxley-1 confirms the discovery’s commercial viability, the Company has also agreed to acquire 10 km ² of 3D seismic over the field by 30th June 2025 and to submit a Field Development Plan for NSTA consent by the end of 2025.

**Qualified Person’s Statement**

Matt Cartwright, UKOG’s Commercial Director, who has 39 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 / Allen D Howard

Tel: 01483 941493

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