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Analyst Barney Gray suspects Wressle application could be 'in with a shot' this time

Independent oil and gas analyst Barney Gray spoke to Proactive London's Andrew Scott following the news that North Lincolnshire’s planning officer has recommended local councillors approve planning consent for the development of the Wressle oil field, in which Union Jack Oil PLC (LON:UJO) and Europa Oil & Gas (Holdings) PLC (LON:EOG) have sizeable stakes.

''Yes I can [see the council giving the green light] because the partners in Wressle have done more work, there's been additional ground investigations, site reconfigurations ... I think they've answered as many questions  as can be asked for a planning approval'', Gray says.

''There's only so much you can do to submit the perfect planning application and this one's going to be more detailed than the previous ones .. so how many refusals can you go through''.

Quick facts: Union Jack Oil PLC

Price: 0.1425 GBX

Market: AIM
Market Cap: £22 m

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Union Jack Oil's Biscathorpe project stands up as "robust" at current oil prices

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