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Union Jack Oil boosted by ‘very positive’ twist in Wressle planning saga

North Lincolnshire Council has withdrawn its case in respect of an upcoming appeal against a past refusal of planning permission.

oil and gas operations
A successful development of Wressle would deliver initial gross production of around 500 bopd.

Union Jack Oil PLC (LON:UJO) executive chairman David Bramhill has described the latest twist in the Wressle planning permission saga as ‘very positive’.

Today project operator Egdon Resources revealed that the North Lincolnshire Council has withdrawn its case in respect of an upcoming appeal which seeks to overturn a past refusal of planning consent.

It noted that this decision at the council follows a closed meeting held on 17 July 2019 during which the Council elected not to present evidence at a Public Inquiry, slated for 5 November.

Egdon, in a statement, said: “While the company considers this to be a very positive development, we still need to obtain planning permission via appeal and the company remains focused on presenting its case for the Wressle development to the independent professional Planning Inspector in November.”

Bramhill, meanwhile, added: “Echoing the operator's comment, while this can be considered a very positive development, planning permission via appeal still needs to be obtained and the operator, on behalf of the Joint Venture partners, remains focused on presenting the case for the Wressle development to the independent Planning Inspector in November 2019."

A successful development of Wressle would deliver initial gross production of around 500 barrels of oil per day.

Quick facts: Union Jack Oil PLC

Price: 0.15 GBX

AIM:UJO
Market: AIM
Market Cap: £18.16 m
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