REG - Union Jack Oil PLC - Wressle Planning Update

Union Jack OilAnnouncement

18/10/2024 07:00

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RNS Number : 6714I  Union Jack Oil PLC  18 October 2024

 

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.

 

18 October 2024

 

UNION JACK OIL PLC

("Union Jack" or the "Company")

 

Wressle Planning Update

Union Jack Oil plc (AIM: UJO and OTCQB: UJOGF), a USA and UK focused onshore
oil and gas production, development and exploration company, advise that
further to the RNS dated 17 October 2024 the operator of Wressle, Egdon
Resources UK Limited, has now been informed by North Lincolnshire Council
("NLC") that following receipt of legal opinion and in light of the Finch
Supreme Court decision, NLC will not seek to resist the proposed legal
challenge brought in respect of NLC's decision to grant the planning consent
for further development of the Wressle well site (see RNS dated 16 September
2024). The proposed legal challenge is based on NLC omitting to request data
that details the likely Scope 3 GHG (greenhouse gas) emissions as part of its
process in granting planning approval.

 

Having sought their own legal advice, the Wressle Joint Venture partners have
concluded they would not be in a position to defend the proposed legal claim.
As such it is fully expected that the planning consent will be quashed once
the court process has concluded.

 

The forward plan, on conclusion of the court process, is to seek a new
screening opinion from NLC with additional supporting data that details the
likely Scope 3 GHG (greenhouse gas) emissions. Depending on the outcome of
this screening opinion either the existing "live" application would be
redetermined by NLC or an Environmental Impact Assessment would be submitted.

 

This decision has no effect on the ongoing current operations or production at
Wressle, which remains profitable.

 

For further information please contact the following:

 

 Union Jack Oil plc                      info@unionjackoil.com (mailto:info@unionjackoil.com)
 David Bramhill

 SP Angel Corporate Finance LLP           +44 (0)20 3470 0470
 Nominated Adviser and Joint Broker
 Matthew Johnson
 Richard Hail
 Caroline Rowe

 Shore Capital                           +44 (0)20 7408 4090
 Joint Broker
 Toby Gibbs
 Harry Davies-Ball

 Gneiss Energy Limited                   +44 (0)20 9263 3983
 Financial Adviser
 Jon Fitzpatrick
 Paul Weidman

 Harbor Access                            +1 (475) 477 9402
 USA Investor Relations
 Jonathan Paterson

 

 

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