North Kelsey Planning Appeal Update PEDL241
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.
6 June 2023
Union Jack Oil plc
("Union Jack" or the "Company")
North Kelsey Planning Appeal Update PEDL241
Union Jack Oil plc (AIM: UJO) a UK focused onshore hydrocarbon production, development and exploration company notes today`s announcement made by Egdon Resources plc in respect of the North Kelsey (PEDL241) Planning Appeal.
Union Jack holds a 50% economic interest in this licence.
"Egdon Resources plc (AIM:EDR) the UK Energy Company, advises that it has reluctantly made the decision to withdraw the planning appeals in relation to the refusal of planning consent for exploratory drilling at North Kelsey, which were due to be heard at a hearing on 14 and 15 June 2023.
"This decision follows recent correspondence with the Planning Inspector where it became clear that he viewed the lateral borehole, which was included in the latest application, as new development which was outside of the original red line boundary of the 2014 planning consent and therefore which could not be properly considered as part of a Section 73 application as made. In this correspondence both Egdon and Lincolnshire County Council, as the minerals planning authority, expressed the position that the lateral borehole was valid under Section 73.
"The lateral borehole is a fundamental aspect of the exploratory well at North Kelsey to ensure all exploration targets are fully explored. Therefore, to ensure that there is clarity on this matter Egdon will be submitting a new planning application for consideration by Lincolnshire County Council as soon as possible. This application will be accompanied by recently completed updated traffic, ecology and flood risk assessments.
"As part of this process we will undertake fresh consultation with the local community prior to submitting the application. This will provide the opportunity for members of the public and parish councils to inspect the proposals at North Kelsey and be more informed during the formal consultation process undertaken by Lincolnshire County Council."
Commenting Mark Abbott, Managing Director of Egdon, said;
"Whilst it is disappointing to have to withdraw the appeals at this late stage and with the strong belief that our case for approval was compelling, we and our advisors unfortunately saw little option given that a lateral borehole is key to the exploratory drilling, and to ensure clarity and robustness in any decision made.
"We will now focus on finalising a new application supported by recently completed updated technical assessments to account for any changes since the original planning consent from 2014."
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 |
|
|
Kasia Brzozowska |
|
|
|
|
|
Shore Capital |
+44 (0)20 7408 4090 |
|
Joint Broker |
|
|
Toby Gibbs |
|
|
Iain Sexton |
|
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.
Latest directors dealings
- 2 hours ago Johnson Matthey
- 3 hours ago Galliford Try
- 3 hours ago Galliford Try
- 3 hours ago Centrica
- 4 hours ago Smith & Nephew