REG - Union Jack Oil PLC - North Kelsey Planning Appeal Update PEDL241

Union Jack OilAnnouncement

06/06/2023 11:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230606:nRSF8163Ba&default-theme=true

RNS Number : 8163B  Union Jack Oil PLC  06 June 2023

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

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

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 (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUNOKROSUNRRR