Last checked at 11 Apr 2017 07:00
11 April 2017
UNION JACK OIL PLC
(AIM: UJO)
Wressle Development - Appeal and New Planning Application Update
Union Jack Oil plc ("Union Jack" or the "Company"), an onshore oil and gas production and exploration company with a focus on production, exploration, development and investment opportunities in the United Kingdom hydrocarbon sector is pleased to announce an update in respect of an appeal and other planning related matters regarding the Wressle conventional development within PEDL180 and PEDL182 of which Union Jack hold a 15% interest (3.33% subject to approval from the Oil and Gas Authority).
Highlights
· Appeal process to commence today
· New planning application being submitted to begin in parallel with appeal process
· Environmental Permit from the Environment Agency expected to be issued by end of April 2017
· Water monitoring boreholes for Wressle successfully installed
The Operator, Egdon Resources plc ("Egdon") announced that it will today start the appeal process through the Planning Inspectorate in respect of the decision by North Lincolnshire County Council ("the Council") on 11th January 2017 to decline planning consent for the development of the conventional Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire.
It is expected that the Planning Inspectorate will validate the appeal documentation within the next 14 days and will then notify Egdon and the Council of the start date and timetable for the appeal process.
As previously announced a new planning application for the Wressle development containing comprehensive information to address the points previously raised by the Council will be submitted to run in parallel with the Appeal process. The new planning application will be submitted during April 2017.
The Environmental Permit for the Wressle development is anticipated to be issued during late April 2017, subject to the outcome of the current consultation process on the draft permit which closes shortly.
The water monitoring boreholes for the existing Wressle site, for which planning consent was received from the Council at the 11th January 2017 planning meeting were successfully installed during February 2017.
David Bramhill, Executive Chairman of Union Jack, commented: "Extensive work has been carried out by the Operator to progress the appeal process and Environmental clearance for the development of the conventional Wressle Oil Field during the last three months, with the full support of the Joint Venture partners. Union Jack look forward to progressing to first oil from this discovery"
For further information, please contact:
Union Jack Oil plc +44 (0)7787 160 682
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Broker
Lindsay Mair
Stephen Wong
Richard Hail
In accordance with the "AIM Rules - Note for Mining and Oil and Gas Companies", the information contained within this announcement has been reviewed by and signed off by Graham Bull, Non-Executive Director, who has over 46 years of international oil and gas industry exploration.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this announcement via Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.