Union Jack Oil PLC Submission of North Kelsey Planning Appeal PED241 (1506V)
08 August 2022 - 4:00PM
UK Regulatory
TIDMUJO
RNS Number : 1506V
Union Jack Oil PLC
08 August 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.
8 August 2022
Union Jack Oil plc
("Union Jack" or the "Company")
Submission of North Kelsey Planning Appeal PED241
Union Jack Oil plc (AIM: UJO) a UK focused onshore hydrocarbon
production, development and exploration company is pleased to
advise that further to the announcement of 14 March 2022, the
Operator of PEDL241, Egdon Resources U.K. Limited, has submitted an
appeal on behalf of the Joint Venture partnership, against the
refusal of an extension of time to the existing planning permission
by Lincolnshire County Council for the drilling and testing of a
conventional exploration well at the North Kelsey site.
Union Jack holds a 50% economic interest in PEDL241.
The appeal documentation has been submitted to the Planning
Inspectorate ("PINS") and the appeal will now be validated by PINS
before an inspector is appointed and a timetable defined. The
expectation is that the appeal will be decided under the Written
Representation Procedure, a process where PINS will consider
written evidence from the appellant, the local planning authority
and any other interested parties.
North Kelsey Prospect
North Kelsey is a conventional oil exploration prospect on trend
with, and analogous to, the Wressle development which lies
approximately 15 kilometres to the northwest. The prospect has been
mapped from 3-D seismic data and has the potential for oil in four
stacked Upper Carboniferous reservoir targets.
The Operator estimates that gross Prospective Resources range
from 4.66 to 8.47 million barrels of oil ("mmbo"), with a Mean
Resource of 6.47 mmbo.
Competent Person's Statement
In accordance with the "AIM Rules - Note for Mining and Oil and
Gas Companies," the technical information contained within this
announcement has been reviewed by and signed off by Graham Bull,
non-executive director, who has over 46 years of international oil
and gas industry experience. Graham Bull is a member of the
Petroleum Exploration Society of Great Britain, the American
Association of Petroleum Geologists and a Fellow of the Geological
Society of London.
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
Caroline Rowe
Shore Capital
+44 (0)20 7408 4090
Joint Broker
Toby Gibbs
Iain Sexton
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END
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