Holmwood Planning Update

RNS Number : 0035U

Union Jack Oil PLC

19 October 2017

 

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.

19 October 2017

UNION JACK OIL PLC

(AIM: UJO)

Holmwood Planning Update

Union Jack Oil plc ("Union Jack" or the "Company"), a UK-focused, onshore oil and gas production and exploration company notes the announcement released this morning by Europa Oil & Gas (Holdings) plc ("Europa"), in respect of PEDL143, where Union Jack holds a 7.5% interest.  Europa included the following statements:

"Europa Oil & Gas (Holdings) plc, a UK and Ireland focussed exploration, development and production company notes the outcome of the Surrey County Council Planning and Regulatory Committee meeting on 18 October 2017 in connection with a conventional oil exploration well to test the Holmwood prospect at Bury Hill Wood, Coldharbour Lane, Surrey:

·     A planning application for a security fence for the drill site was approved by Surrey County Council ('SCC') at the Planning and Regulatory Committee meeting on 18 October 2017.

·     The Planning Committee elected to defer a decision on Condition 19 (Traffic Management Scheme) pending response to further requests for information from the Planning Committee.

Europa will consult with its joint venture partners and advisers and respond to SCC on Condition 19 accordingly. 

As a consequence of the deferred decision on Condition 19, the Company advises that it anticipates operations to drill the Holmwood conventional oil exploration well will now commence in H1 2018."

The interests held in PEDL143 are as follows:

Europa Oil & Gas (Holdings) plc (operator)	20.00%
UK Oil & Gas Investments plc	30.00%
Egdon Resources plc	18.40%
Angus Energy plc	12.50%
Warwick Energy	10.00% (sold to UK Oil & Gas Investments plc subject to OGA approval)
Union Jack Oil plc	7.50%
Altwood Petroleum Limited	1.60%

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
Stephen Wong
Richard Hail
Turner Pope Investments (TPI) Ltd	[phone]
Joint Broker
Ben Turner
James Pope

 

END

 

 

MSCOKFDKABDDKKD