UJO.L

Union Jack Oil Plc
Union Jack Oil PLC - Wressle Planning Update PEDL180/PEDL182
12th November 2024, 07:00
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RNS Number : 7904L
Union Jack Oil PLC
12 November 2024
 

12 November 2024

 

 

Union Jack Oil plc

("Union Jack" or the "Company")

Wressle Planning Update PEDL180/PEDL182

 

Union Jack Oil plc (AIM: UJO, OTCQB: UJOGF), a UK and USA focused onshore hydrocarbon, production, development, exploration and investment company, confirms that, as expected and indicated in the announcement dated 18 October 2024, planning permission for the Wressle development, initially granted on 13 September 2024, has been formally rescinded. This is on the basis that the North Lincolnshire Council ("NLC") omitted to consider the likely Scope 3 GHG (greenhouse gas) emissions associated with the project when determining if the proposed development required an Environmental Impact Assessment ("EIA"). This is a consequence of the Supreme Court Finch ruling in June 2024, which post-dated the original EIA screening decision by the NLC made in July 2023.

The Operator, Egdon Resources U.K. Limited, will now provide the NLC with an analysis of Scope 3 GHG emissions for the proposed development conducted by an independent third-party specialist company and request a new EIA screening opinion. Depending on the outcome of this decision, a new determination of the Wressle planning application will be made based on either the existing submitted information or with the requirement for a new Environmental Statement.

This decision has no effect on the existing planning consent at Wressle and production and operations continue with no detriment to Union Jack and its partners.

The Company holds a 40% interest in the Wressle development.

 

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

Caroline Rowe

 

Shore Capital                                                                                               +44 (0)20 7408 4090

Joint Broker

Toby Gibbs

Harry Davies-Ball

 

Gneiss Energy Limited                                                                               + 44 (0)20 3983 9263

Financial Adviser

Jon Fitzpatrick

Paul Weidman

 

Harbour Access                                                                                                +1 (475) 477 9402

USA Investor Relations

Jonathan Paterson

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