Union Jack Oil PLC West Newton Online Consultation Launched (9460S)
March 22 2021 - 2:00AM
UK Regulatory
TIDMUJO
RNS Number : 9460S
Union Jack Oil PLC
22 March 2021
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
22 March 2021
Union Jack Oil plc
("Union Jack" or the "Company")
West Newton Online Consultation Launched
Public Consultation on the Proposed West Newton A Site Field
Development
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon
production, development and exploration company, notes that Rathlin
Energy (UK) Limited ("Rathlin"), the Operator of PEDL183 and the
West Newton Field, has today launched an online consultation event
on a proposed hydrocarbon development of the West Newton A site as
part of a public planning consultation process.
Union Jack holds a 16.665% interest in PEDL183, containing the
conventional West Newton A-1 discovery well ("WN-A1"), the
successful A-2 appraisal well ("WN-A2) and the recently drilled
B-1Z discovery ("WN-B1Z").
-- During January 2021, Rathlin received a Screening Opinion
from the East Riding of Yorkshire Council in response to Rathlin's
screening request for the proposed West Newton A site extension
("WNA") that the proposed development would not comprise an EIA
(Environmental Impact Assessment) development. The screening
opinion covered the proposed WNA wellsite and associated work
programme would provide for testing, appraisal and production from
the two existing wells, WN-A1 and WN-A2, and the potential for
drilling, testing, appraisal and production from up to six (6) new
wells on the WNA wellsite over a 25 year period
-- This next step, prior to submitting a formal planning
application, is a public consultation process
-- Under normal circumstances, the consultation process would
encompass in-person and open meetings. Under the current
restrictions associated with the Covid-19 pandemic, in-person
gatherings are not possible, with a virtual consultation now being
undertaken to communicate with the West Newton Community Liaison
Group, landowners, local community, Councils, regulators and other
stakeholders
-- As part of the public planning consultation process, the
information provided in the online consultation event on the
proposed field development at West Newton is extensive and includes
conceptual development plans and indicative drilling and production
schematics on a potential hydrocarbon development
-- The documentation contained in the online consultation event
also includes important and relevant information on:
o The benefits of domestic hydrocarbon production, given that
the UK economy is a net importer
o The need for responsible hydrocarbon usage as we transition
towards the UK government's net zero carbon target for fuel
supply
o The Humber region, being the UK's largest energy hub, offers
the opportunity to deliver the UK's first zero carbon industrial
cluster and help position the North of England at the heart of the
global energy revolution
-- Rathlin believes that the West Newton Field has the potential
to provide local feedstock to a Humber net zero project replacing
the need for imported hydrocarbons while at the same time
developing indigenous energy sources, contributing to the economic
welfare of the Humber region and enhancing local job prospects
Rathlin's Online Consultation can be accessed at:
https://consultation-wna.rathlin-energy.co.uk/
For further information, please contact:
Union Jack Oil plc Via Cassiopeia Services Ltd
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Broker
Richard Morrison
Richard Hail
Caroline Rowe
Cassiopeia Services Ltd +44 (0)7949 690 338
Public Relations
Stefania Barbaglio
Novus Communications Ltd +44 (0)20 7448 9839 / Twitter:
@NovusComms
Financial PR
Alan Green / Jacqueline Briscoe
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END
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