Last checked at 25 Jan 2022 07:00
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
25 January 2022
Union Jack Oil plc
("Union Jack" or the "Company")
Biscathorpe Planning Appeal Update
Union Jack Oil plc (AIM: UJO) a UK focused onshore hydrocarbon production, development and exploration company, is pleased to advise that the Company has been advised by the Operator of PEDL253 (Egdon Resources U.K. Limited), of their intention, on behalf of the Joint Venture, to submit an appeal against the refusal of planning permission by Lincolnshire County Council ("LLC"), on 1 November 2021, for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site on PEDL253.
PEDL253 is situated within the proven hydrocarbon fairway of the South Humber Basin and is on-trend with the Keddington oilfield (Union Jack 55%) and the Saltfleetby gasfield.
Union Jack holds a 45% economic interest in PEDL253.
The decision has been made after reviewing LLC's Decision Notice, received on 6 December 2021, taking advice from planning and legal advisers and agreement from the Joint Venture partners.
The appeal documentation is currently in preparation and is expected to be submitted during Q1 2022.
For further information, please contact
Union Jack Oil plc info@unionjackoil.com
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Broker
Richard Morrison
Richard Hail
Caroline Rowe