UJO.GB Union Jack Oil Plc

TIDMUJO

RNS Number : 8163B

Union Jack Oil PLC

06 June 2023

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.

6 June 2023

Union Jack Oil plc

("Union Jack" or the "Company")

North Kelsey Planning Appeal Update PEDL241

Union Jack Oil plc (AIM: UJO) a UK focused onshore hydrocarbon production, development and exploration company notes today`s announcement made by Egdon Resources plc in respect of the North Kelsey (PEDL241) Planning Appeal.

Union Jack holds a 50% economic interest in this licence.

"Egdon Resources plc (AIM:EDR) the UK Energy Company, advises that it has reluctantly made the decision to withdraw the planning appeals in relation to the refusal of planning consent for exploratory drilling at North Kelsey, which were due to be heard at a hearing on 14 and 15 June 2023.

"This decision follows recent correspondence with the Planning Inspector where it became clear that he viewed the lateral borehole, which was included in the latest application, as new development which was outside of the original red line boundary of the 2014 planning consent and therefore which could not be properly considered as part of a Section 73 application as made. In this correspondence both Egdon and Lincolnshire County Council, as the minerals planning authority, expressed the position that the lateral borehole was valid under Section 73.

"The lateral borehole is a fundamental aspect of the exploratory well at North Kelsey to ensure all exploration targets are fully explored. Therefore, to ensure that there is clarity on this matter Egdon will be submitting a new planning application for consideration by Lincolnshire County Council as soon as possible. This application will be accompanied by recently completed updated traffic, ecology and flood risk assessments.

"As part of this process we will undertake fresh consultation with the local community prior to submitting the application. This will provide the opportunity for members of the public and parish councils to inspect the proposals at North Kelsey and be more informed during the formal consultation process undertaken by Lincolnshire County Council."

Commenting Mark Abbott, Managing Director of Egdon, said;

"Whilst it is disappointing to have to withdraw the appeals at this late stage and with the strong belief that our case for approval was compelling, we and our advisors unfortunately saw little option given that a lateral borehole is key to the exploratory drilling, and to ensure clarity and robustness in any decision made.

"We will now focus on finalising a new application supported by recently completed updated technical assessments to account for any changes since the original planning consent from 2014."

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 
 Kasia Brzozowska 
 
 Shore Capital                         +44 (0)20 7408 4090 
 Joint Broker 
 Toby Gibbs 
 Iain Sexton 
 

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