16 September 2024
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.
Union Jack Oil plc
("Union Jack" or the
"Company")
Wressle - Receipt of Planning
Approval for
Further Development
Union Jack Oil plc (AIM: UJO, OTCQB: UJOGF), a
UK and USA focused onshore hydrocarbon, production, development,
exploration and investment company is pleased to announce that
planning consent has been received from North Lincolnshire Council
for the further development of the Wressle well site.
The approved works will include extending the
existing site to accommodate the drilling of two new wells,
construction of gas processing facilities and an underground gas
pipeline to connect Wressle to the local gas distribution
network.
The Wressle field is located in onshore
licences PEDL180 and PEDL182, situated on the western margin of the
Humber Basin, North Lincolnshire.
Union Jack holds a 40% interest in the Wressle
development.
David
Bramhill, Executive Chairman of Union Jack,
commented:
"I am delighted that the joint venture
partnership has received the planning consent to continue
development of Wressle, which will increase oil production and
monetise the associated gas from the field, resulting in zero
routine flaring at site.
"This positive decision represents to Union
Jack a significant domestic production growth opportunity at our
robust and reliable flagship Wressle project and for the UK
provides economic and environmental benefits compared to imports on
which the UK is becoming increasingly reliant.
"I look forward to updating the market further
as the Wressle partners progress the field development."
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
Harry Davies-Ball
Gneiss Energy
Limited
+ 44 (0)20 3983 9263
Financial
Adviser
Jon Fitzpatrick
Paul Weidman
Harbour
Access
+1 (475) 477 9402
USA Investor
Relations
Jonathan Paterson