Government Ends Moratorium on Hydraulic Fracturing

RNS Number : 8161Y
Union Jack Oil PLC
08 September 2022
 

8 September 2022

 

  Union Jack Oil plc

  ("Union Jack" or the "Company")

Government Ends Moratorium on Hydraulic Fracturing Onshore UK

 

Union Jack Oil plc (AIM: UJO), the UK focused onshore hydrocarbon production, development and exploration company, notes today's announcement by the Prime Minister, Liz Truss of the lifting of the moratorium on hydraulic fracturing in the UK onshore, where there is local support.

The directors of Union Jack welcome today's announcement as it could have a material and positive benefit when applied to progressing the Company's ongoing development, appraisal and exploration activities across its various UK onshore licence interests.

The directors highlight that the lifting of the moratorium is expected to positively change both the technical and commercial dynamics in respect of certain of Union Jack's licence interests going forward.

Union Jack now looks forward to obtaining expanded details on today's significant decision and a further update will be provided in due course.

 

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 Joint Broker

Matthew Johnson

Richard Hail

Caroline Rowe

 

Shore Capital                                                                                                     +44 (0)20 7408 4090

Joint Broker

Toby Gibbs

Iain Sexton

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCUPUQABUPPGPR
UK 100

Latest directors dealings