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Union Jack Oil

Union Jack Oil Conclusion of Wressle development public inquiry

Union Jack Oil (LON:UJO), a UK focused onshore conventional hydrocarbon production, development and exploration company has provided an update on the Wressle Development Public Inquiry.

Union Jack holds a 27.5% interest in PEDL180 and PEDL182, which contains the Wressle hydrocarbon discovery.

The Public Inquiry concluded on 7 November 2019, having commenced on 5 November 2019 in Scunthorpe, Lincolnshire. The Public Inquiry, which included a site visit, lasted three days, instead of the planned six days. As previously announced, North Lincolnshire Council presented no evidence. An application for costs has also been submitted.

With a general election campaign underway and Planning Inspectorate purdah in place, the Company and its joint venture partners at Wressle expect a decision on the Public Inquiry to be announced after 12 December 2019, the date of the general election, and before the end of 2019.

David Bramhill, Executive Chairman of Union Jack, commented:

“Union Jack, whose representatives were in attendance for all three days of the Planning Inquiry, believes that the Operator, Egdon Resources plc, presented an extremely strong case on behalf of the joint venture partners, supported by their expert witness team.”

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.