Wressle Planning Decision

RNS Number : 9668J

Union Jack Oil PLC

03 July 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.

3 July 2017

UNION JACK OIL PLC

(AIM: UJO)

Wressle Planning Decision

Union Jack Oil plc ("Union Jack" or the "Company"), an onshore oil and gas production and exploration company with a focus on production, exploration, development and investment in the United Kingdom hydrocarbon sector, notes that Egdon Resources PLC ("Egdon") has released an RNS regarding the planning decision by the North Lincolnshire County Council's Planning Committee in respect of the development of the Wressle Oil Field in North Lincolnshire licences PEDL180 and PEDL182.  

Union Jack holds an 15% interest in both licences.

Egdon's RNS contained the following information:

Egdon Resources plc (AIM:EDR) announces that the North Lincolnshire County Council's Planning Committee has today refused planning consent for the development of the Wressle Oil Field at Lodge Farm, Wressle, North Lincolnshire.

Mark Abbott Managing Director of Egdon Resources plc, said:

"We are very disappointed by the decision of the Committee that goes against the positive recommendation of their Planning Officer which was determined after an extensive and thorough review of our proposals 

Our business has been operating exploration and production sites in a safe and environmentally sensitive manner across the region for many years, engaging with communities, employing local people and investing in the local supply chain.

We will now take time to consider our options including the ongoing appeal process already underway."

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

 

 

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