Wressle Planning Appeals Decision

RNS Number : 0370B

Union Jack Oil PLC

05 January 2018

 

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.

5 January 2018

UNION JACK OIL PLC

(AIM: UJO)

Wressle Development Planning Appeals Decision

Union Jack Oil plc ("Union Jack" or the "Company"), a UK-focused, onshore oil and gas production and exploration company, can advise that the Planning Inspectorate has issued its decision in respect of the Wressle Planning Inquiry.  The decision made by the Inspector is to reject the appeals by Egdon Resources plc (the "Operator") on behalf of the Wressle joint venture partners against the two planning refusals by North Lincolnshire County Council's Planning Committee in respect of the development of the Wressle oil discovery in licences PEDL180 and PEDL182.

However, the Planning Inspectorate has advised that it did uphold the Operator's appeal on behalf of the Wressle joint venture partners against the decision to refuse the application to retain the existing planning for the well site, which is now retained until the 28 April 2018.

David Bramhill, Chairman of Union Jack, said:

"The Wressle joint venture partners will now take the opportunity to consider in detail the reasons for the refusals as contained in the decision notice and review the options available to us and will provide a further update in the next few days."

For further information, please contact: 

Union Jack Oil plc	[phone]
David Bramhill
SP Angel Corporate Finance LLP	[phone]
Nominated Adviser and Joint Broker
Lindsay Mair
Richard Hail
Turner Pope Investments (TPI) Ltd	[phone]
Joint Broker
Ben Turner
James Pope

 

END

 

 

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