Union Jack Oil PLC Biscathorpe and North Kelsey Planning Update (9974N)
May 14 2018 - 7:05AM
UK Regulatory
TIDMUJO
RNS Number : 9974N
Union Jack Oil PLC
14 May 2018
Market Abuse Regulation (MAR) Disclosure
Certain 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
14 May 2018
Union Jack Oil plc
("Union Jack" or the "Company")
Biscathorpe and North Kelsey Planning Update
Union Jack Oil plc (AIM: UJO), a UK-focused onshore hydrocarbon
production, development and exploration company is pleased to
announce that the applications to extend the existing planning
permissions to drill conventional, exploratory oil wells at both
the Biscathorpe-2 and North Kelsey-1 site locations were approved
at today's meeting of the Lincolnshire County Council Planning
Committee. The planning permissions have now been extended to
December 2020.
David Bramhill, Executive Chairman of Union Jack, commented:
"We are delighted with the Planning Committee's favourable
decision to extend the planning permissions at Biscathorpe and
North Kelsey.
"Biscathorpe-2 holds considerable upside potential for our
Company with gross prospective oil resources of 14 million barrels
and a high geological Chance of Success of 40%. We are enthusiastic
about commencing drilling operations expected around mid-year 2018
and look forward to updating the market on progress in due
course."
For further information, please contact:
Union Jack Oil plc +44 (0) 7787 160 682
David Bramhill
SP Angel Corporate Finance
LLP +44 (0) 20 3470 0470
Nominated Adviser and
Broker
Lindsay Mair
Richard Hail
This information is provided by RNS
The company news service from the London Stock Exchange
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