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

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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