UJO.L

Union Jack Oil Plc
Union Jack Oil PLC - Wressle Planning Update
18th October 2024, 06:00
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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

 

 


 

 


 

 

 

 

 


 

 

 

 

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 or visit 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.
 
END
 
 
UPDQKOBNABDDOKD]]>
TwitterFacebookLinkedIn