REG - Union Jack Oil PLC - Wressle – Receipt of Planning Approval

Union Jack OilAnnouncement

16/09/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240916:nRSP2270Ea&default-theme=true

RNS Number : 2270E  Union Jack Oil PLC  16 September 2024

16 September 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.

 

Union Jack Oil plc

("Union Jack" or the "Company")

Wressle - Receipt of Planning Approval for Further Development

 

Union Jack Oil plc (AIM: UJO, OTCQB: UJOGF), a UK and USA focused onshore
hydrocarbon, production, development, exploration and investment company is
pleased to announce that planning consent has been received from North
Lincolnshire Council for the further development of the Wressle well site.

The approved works will include extending the existing site to accommodate the
drilling of two new wells, construction of gas processing facilities and an
underground gas pipeline to connect Wressle to the local gas distribution
network.

The Wressle field is located in onshore licences PEDL180 and PEDL182, situated
on the western margin of the Humber Basin, North Lincolnshire.

Union Jack holds a 40% interest in the Wressle development.

 

David Bramhill, Executive Chairman of Union Jack, commented:

"I am delighted that the joint venture partnership has received the planning
consent to continue development of Wressle, which will increase oil production
and monetise the associated gas from the field, resulting in zero routine
flaring at site.

"This positive decision represents to Union Jack a significant domestic
production growth opportunity at our robust and reliable flagship Wressle
project and for the UK provides economic and environmental benefits compared
to imports on which the UK is becoming increasingly reliant.

"I look forward to updating the market further as the Wressle partners
progress the field development."

 

For further information, please contact:

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 3983 9263

Financial Adviser

Jon Fitzpatrick

Paul Weidman

 

Harbour
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 (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  MSCDBGDCSDBDGSS