Union Jack Oil PLC NSTA Approves Wressle Field Development Plan (1561N)
30 May 2022 - 4:01PM
UK Regulatory
TIDMUJO
RNS Number : 1561N
Union Jack Oil PLC
30 May 2022
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.
30 May 2022
Union Jack Oil plc
("Union Jack" or the "Company")
North Sea Transition Authority ("NSTA") Approves Wressle Field
Development Plan
Union Jack Oil plc (AIM: UJO) a UK focused onshore hydrocarbon
production, development and exploration company is pleased to
announce that the NSTA has approved the Wressle Field Development
Plan ("FDP").
The Wressle hydrocarbon development ("Wressle") is located
within licences PEDL180 and PEDL182 in North Lincolnshire on the
western margin of the Humber Basin.
The NSTA has also approved the licences entering their
production phase, which will continue through to 2039.
Union Jack holds a 40% economic interest in Wressle.
Executive Chairman of Union Jack, David Bramhill commented: "The
approval of the FDP by the NSTA is another significant and
important milestone in the history of Wressle.
"Wressle-1 is currently amongst the most productive wells in the
UK, and to date has produced over 170,000 barrels of high-quality
oil.
"Focus now turns to completing the installation of the few
remaining permanent production facilities and progressing the
planning, permitting and implementation of the gas monetisation
plan.
"My thanks go to our Joint Venture partners Egdon Resources U.K.
Limited (Operator) and Europa Oil and Gas plc, whom, along with
Union Jack have made the FDP approval process a success."
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 Broker
Matthew Johnson
Richard Hail
Caroline Rowe
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
MSCBKOBBKBKBOPB
(END) Dow Jones Newswires
May 30, 2022 02:01 ET (06:01 GMT)
Union Jack Oil (LSE:UJO)
Historical Stock Chart
From Mar 2024 to Apr 2024
Union Jack Oil (LSE:UJO)
Historical Stock Chart
From Apr 2023 to Apr 2024