Union Jack Oil PLC Holmwood Planning Update (5053V)
24 July 2018 - 4:00PM
UK Regulatory
TIDMUJO
RNS Number : 5053V
Union Jack Oil PLC
24 July 2018
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement
24 July 2018
Union Jack Oil plc
("Union Jack" or the "Company")
Holmwood Planning Update
Union Jack Oil plc (AIM: UJO), a UK-focused onshore hydrocarbon
production, development and exploration company notes the
announcement released this morning by Europa Oil & Gas
(Holdings) plc ("Europa"), in respect of PEDL143, where Union Jack
holds a 7.5% interest. Europa included the following
statements:
"Europa Oil & Gas (Holdings) plc, the UK and Ireland focused
exploration, development and production company, is pleased to
provide a planning update regarding the Holmwood conventional oil
exploration prospect in the Weald Basin ('Holmwood') on Licence
PEDL 143 at Bury Hill Wood, Coldharbour Lane, Surrey. Europa Oil
& Gas Limited is operator of PEDL 143 in which it holds a 20%
interest.
Europa will today submit a planning application to Surrey County
Council seeking a Variation of conditions 3 and 19 (i) of Appeal
Decision APP/YB3600/A/11/2166561, to extend the temporary period of
the permission for the well site by a further 3 years and to remove
the requirement for the scheme to include an identified HGV holding
area. It has also applied today for two other associated planning
applications - for the underground drilling corridor and for the
temporary security fence, which is to be erected around the well
site.
Europa also confirms that the Oil and Gas Authority has extended
the Initial Term of Licence for PEDL 143 until 30 September
2020.
The Environment Agency granted a mining waste permit number
EPR/YP3735YK on 23 July 2018. The permit authorises the management
of extractive wastes not involving a waste facility to allow the
drilling and testing of a single well for the purposes of onshore
oil and gas exploration. The Environment Agency has also granted a
radioactive substances regulation permit and an oil storage permit
(both Standard Rules)
Europa is the operator of PEDL 143, in which it holds a 20%
interest, alongside UK Oil & Gas Investments plc 40%, Egdon
Resources plc 18.4%, Angus Energy plc 12.5%, Union Jack Oil plc
7.5% and Altwood Petroleum 1.6%. Following farm-outs to Union Jack
Oil and Angus Energy, Europa is fully carried on its remaining 20%
share of the exploration well costs up to a cap of GBP3.2
million."
For further information please contact the following:
Union Jack Oil plc +44 (0)7787 160 682
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser
Lindsay Mair
Richard Hail
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END
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