Last checked at 22 Mar 2021 07:00
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement
22 March 2021
Union Jack Oil plc
("Union Jack" or the "Company")
West Newton Online Consultation Launched
Public Consultation on the Proposed West Newton A Site Field Development
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company, notes that Rathlin Energy (UK) Limited ("Rathlin"), the Operator of PEDL183 and the West Newton Field, has today launched an online consultation event on a proposed hydrocarbon development of the West Newton A site as part of a public planning consultation process.
Union Jack holds a 16.665% interest in PEDL183, containing the conventional West Newton A-1 discovery well ("WN-A1"), the successful A-2 appraisal well ("WN-A2) and the recently drilled B-1Z discovery ("WN-B1Z").
· During January 2021, Rathlin received a Screening Opinion from the East Riding of Yorkshire Council in response to Rathlin's screening request for the proposed West Newton A site extension ("WNA") that the proposed development would not comprise an EIA (Environmental Impact Assessment) development. The screening opinion covered the proposed WNA wellsite and associated work programme would provide for testing, appraisal and production from the two existing wells, WN-A1 and WN-A2, and the potential for drilling, testing, appraisal and production from up to six (6) new wells on the WNA wellsite over a 25 year period
· This next step, prior to submitting a formal planning application, is a public consultation process
· Under normal circumstances, the consultation process would encompass in-person and open meetings. Under the current restrictions associated with the Covid-19 pandemic, in-person gatherings are not possible, with a virtual consultation now being undertaken to communicate with the West Newton Community Liaison Group, landowners, local community, Councils, regulators and other stakeholders
· As part of the public planning consultation process, the information provided in the online consultation event on the proposed field development at West Newton is extensive and includes conceptual development plans and indicative drilling and production schematics on a potential hydrocarbon development
· The documentation contained in the online consultation event also includes important and relevant information on:
o The benefits of domestic hydrocarbon production, given that the UK economy is a net importer
o The need for responsible hydrocarbon usage as we transition towards the UK government's net zero carbon target for fuel supply
o The Humber region, being the UK's largest energy hub, offers the opportunity to deliver the UK's first zero carbon industrial cluster and help position the North of England at the heart of the global energy revolution
· Rathlin believes that the West Newton Field has the potential to provide local feedstock to a Humber net zero project replacing the need for imported hydrocarbons while at the same time developing indigenous energy sources, contributing to the economic welfare of the Humber region and enhancing local job prospects
Rathlin's Online Consultation can be accessed at: https://consultation-wna.rathlin-energy.co.uk/
For further information, please contact:
Union Jack Oil plc Via Cassiopeia Services Ltd
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Broker
Richard Morrison
Richard Hail
Caroline Rowe
Cassiopeia Services Ltd +44 (0)7949 690 338
Public Relations
Stefania Barbaglio
Novus Communications Ltd +44 (0)20 7448 9839 / Twitter: @NovusComms
Financial PR
Alan Green / Jacqueline Briscoe