North Kelsey Update

RNS Number : 7001E

Union Jack Oil PLC

14 March 2022

 

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.

14 March 2022

Union Jack Oil plc

("Union Jack" or the "Company")

North Kelsey Update

Union Jack Oil plc (AIM: UJO) a UK focused hydrocarbon production, development and exploration company advises that an application to extend the existing planning to drill the North Kelsey-1 exploration well was refused at today's meeting of the Lincolnshire County Council Planning Committee.

Union Jack holds a 50% economic interest in PEDL241 which contains the North Kelsey-1 well site.

Executive Chairman of Union Jack, David Bramhill commented: "A rather odd and disturbing decision taking into consideration current world events and the clear need for the UK to secure new indigenous energy supplies.

"A compelling case was presented by the Operator and a positive recommendation was made by Lincolnshire County Council`s Planning Officer.

"An appeal will be made against this decision and further updates will be provided in due course".

For further information, please contact 

Union Jack Oil plc  [e-mail]

David Bramhill

SP Angel Corporate Finance LLP  [phone]

Nominated Adviser and Broker

Richard Morrison

Richard Hail

Caroline Rowe

 

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