REG - Union Jack Oil PLC - Biscathorpe Planning Update - PEDL253

Union Jack OilAnnouncement

15/12/2025 12:30

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RNS Number : 5983L  Union Jack Oil PLC  15 December 2025

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/201

 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.

 

15 December 2025

 

Union Jack Oil plc

("Union Jack" or the "Company")

Biscathorpe Planning Update - PEDL253

 

Union Jack Oil plc (AIM: UJO, OTCQB: UJOGF) a UK and USA focused onshore
hydrocarbon production, development, exploration, and investment company
advises that the joint venture partnership has made the decision to withdraw
the planning appeal in relation to the refusal of planning consent for a
side-track drilling operation and oilfield development at Biscathorpe,
contained within PEDL253. The appeal was due to be heard at a public inquiry
scheduled to take place in April 2026. Subsequently, the joint venture will
fulfil its regulatory obligations and relinquish the licence in due course.

 

Union Jack holds a 45% non-operated interest in PEDL253.

 

The licence operator, Egdon Resources U.K. Limited ("Egdon"), had previously
secured planning consent in December 2023 for the appraisal and production of
hydrocarbon resources from its Biscathorpe wellsite. A subsequent legal
challenge in the High Court (July 2024) based on the Finch decision, quashed
the 2023 planning consent. In September 2024, Egdon requested the Planning
Inspectorate ("PINS") to redetermine the appeal by written representations.
Egdon submitted an addendum to its environmental statement which documented an
assessment of the expected downstream greenhouse gas emissions that would be
generated from an oil development at Biscathorpe.

 

At the request of PINS, supplementary information was provided during 2025
that included an updated Statement of Case, an updated Statement of Common
Ground, and a Climate Change Assessment. In October, PINS unexpectedly advised
that a new Planning Inspector had been appointed and that he had concluded
that the appeal should be conducted as a four-to-six-day inquiry, rather than
by Egdon's preference for written representations.

 

Having considered the commercial aspects, prevailing tax regime and the
continued lack of clear case law in respect of oil and gas projects in the UK
post-Finch, the PEDL253 joint venture partnership has concluded that it could
no longer justify its continued investment in the Biscathorpe project, and
that it should therefore withdraw its appeal. This collective decision was
augmented by a strengthened legislative duty applying to National Landscapes
(formerly AONBs) introduced in late 2024.

 

David Bramhill, Executive Chairman of Union Jack Oil, commented: "With a
backdrop of a changing macro-economic environment, along with the continued
regulatory uncertainty in relation to how downstream emissions will be
considered, we have concluded that this is the correct decision for the
Company's wider objectives, which includes the future development of Wressle
and the planned drilling programme in Oklahoma.

 

"A comprehensive review of all of Union Jack's projects in the UK and USA will
be issued in January 2026."

 

 

 

 

 

 

For further information, please contact:

 

 Union Jack Oil plc

 David Bramhill                       info@unionjackoil.com

 SP Angel Corporate Finance LLP       +44 (0)20 3470 0470

 Nominated Adviser and Joint Broker

 Matthew Johnson

 Richard Hail

 Jen Clarke

 Zeus Capital Limited                 +44 (0)20 3829 5000

 Joint Broker

 Antonio Bossi

 Simon Johnson

 George Duxberry

 Harbour Access                       +1 (475) 477 9402

 USA Investor Relations

 Jonathan Paterson

 

 

 

 

 

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