Business
Submission of New Wressle Planning Application
Submission of New Wressle Planning Application.
About this update from Union Jack Oil Plc
[{"type":"text","content":"\n \nRNS Number : 7541T Union Jack Oil PLC 05 July 2018 \n\nMarket Abuse Regulation (MAR) Disclosure\nCertain 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\n \n5 July 2018\n \nUnion Jack Oil plc\n(\"Union Jack\" or the \"Company\")\nNew Comprehensive Planning Application Submitted for Wressle Development \n \nUnion Jack Oil plc (AIM: UJO), a UK-focused onshore hydrocarbon production, development and exploration company, notes the announcement released today by Edgon Resources plc, confirming that a new comprehensive planning application in respect of the development of the Wressle oil field has been submitted to North Lincolnshire Council. \nCommenting, David Bramhill, Executive Chairman of Union Jack, said: \n\"The operator has today submitted a comprehensive planning application on behalf of the joint venture partners for the development of the Wressle oil field. \nWressle is material to Union Jack and the economic impact of establishing commercial oil production will be transformative for our Company. \nConsiderable work has been carried out to address all the issues identified previously. As part of our ongoing belief in the development of Wressle, Union Jack reaffirmed its support in June 2018 by acquiring a further 12.5% interest, increasing our interest to 27.5%*. \nUnion Jack also fully supports the operator's proposal in respect of a community liaison group and a community fund to ensure the local community are kept fully informed and share in the benefits of the Wressle development.\nNote (*): Transaction has obtained Oil & Gas Authority (OGA) approval but is subject to completion.\nAn extract of the announcement today by Egdon Resources plc is attached.\n \nFor further information, please contact:\n\n\n\nUnion Jack Oil plc\n\n\n+44 (0) 7787 160 682\n\n\n\n\nDavid Bramhill\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSP Angel Corporate Finance LLP\n\n\n+44 (0) 20 3470 0470\n\n\n\n\nNominated Adviser\n\n\n\n\n\n\n\nLindsay Mair \n\n\n\n\n\n\n\nRichard Hail \n\n\n\n\n\n\n \n \nExtract of announcement made today by Egdon Resources plc\n \nEgdon Resources plc (AIM:EDR) is pleased to announce the submission to North Lincolnshir...