Business
Biscathorpe Planning Update - PEDL253
Union Jack Oil plc has decided to withdraw its planning appeal for a side-track drilling operation and oilfield development at Biscathorpe (PEDL253), relinquishing the licence due to commercial considerations, prevailing tax regime, and continued regulatory uncertainty post-Finch decision, alongside a strengthened legislative duty for National Landscapes. The company holds a 45% non-operated interest in the licence, and the joint venture partnership concluded that continued investment in the Biscathorpe project could no longer be justified. This decision impacts the planned April 2026 public inquiry, and a comprehensive review of all Union Jack's projects is expected in January 2026. Disclaimer*
About this update from Union Jack Oil Plc
[{"type":"text","content":"\n\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/201\n as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed\nin accordance with the Company's obligations under Article 17 of MAR.\n \n15 December 2025\n \nUnion Jack Oil plc\n(\"Union Jack\" or the \"Company\")\nBiscathorpe Planning Update - PEDL253\n \nUnion Jack Oil plc (AIM: UJO, OTCQB: UJOGF) a UK and USA focused onshore hydrocarbon production, development, exploration, and investment company advises that the joint venture partnership has made the decision to withdraw the planning appeal in relation to the refusal of planning consent for a side-track drilling operation and oilfield development at Biscathorpe, contained within PEDL253. The appeal was due to be heard at a public inquiry scheduled to take place in April 2026. Subsequently, the joint venture will fulfil its regulatory obligations and relinquish the licence in due course.\n \nUnion Jack holds a 45% non-operated interest in PEDL253.\n \nThe licence operator, Egdon Resources U.K. Limited (\"Egdon\"), had previously secured planning consent in December 2023 for the appraisal and production of hydrocarbon resources from its Biscathorpe wellsite. A subsequent legal challenge in the High Court (July 2024) based on the Finch decision, quashed the 2023 planning consent. In September 2024, Egdon requested the Planning Inspectorate (\"PINS\") to redetermine the appeal by written representations. Egdon submitted an addendum to its environmental statement which documented an assessment of the expected downstream greenhouse gas emissions that would be generated from an oil development at Biscathorpe.\n \nAt the request of PINS, supplementary information was provided during 2025 that included an updated Statement of Case, an updated Statement of Common Ground, and a Climate Change Assessment. In October, PINS unexpectedly advised that a new Planning Inspector had been appointed and that he had concluded that the appeal should be conducted as a four-to-six-day inquiry, rather than by Egdon's preference for written representations.\n \nHaving considered the commercial aspects, prevailing tax regime and the continued lack of clear case law in respect of oil a...