Union Jack Oil PLC Holmwood Planning Update (0322X)

TIDMUJO

RNS Number : 0322X

Union Jack Oil PLC

21 November 2017

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.

21 November 2017

UNION JACK OIL PLC

(AIM: UJO)

Holmwood Planning Update PEDL143 Weald Basin

Union Jack Oil plc ("Union Jack" or the "Company"), a UK-focused, onshore oil and gas production and exploration company notes the announcement released this morning by Europa Oil & Gas (Holdings) plc ("Europa"), in respect of PEDL143, where Union Jack holds a 7.5% interest. Europa included the following statements:

"Europa, the AIM traded UK and Ireland focused oil and gas exploration, development and production company is pleased to provide a planning update regarding the Holmwood oil exploration prospect ("Holmwood") on license PEDL143 at Bury Hill Wood, Coldharbour Lane, Surrey. Europa is operator of PEDL143 in which it holds a 20% interest.

As previously advised in the Company`s announcement dated 19 October 2017, Surrey County Council`s ("SCC") Planning and Regulatory Committee met on 18 October 2017 in connection with a conventional oil exploration well to test the Holmwood prospect.

The Committee resolved to defer a decision on Condition 19 (Construction Traffic Management Plan) of the planning permission granted on 7 August 2015. Europa considers that the Construction Management Plan as submitted to SCC on 21 September 2017 for approval satisfactorily meets the requirements of Condition 19.

Europa will shortly submit an appeal ("the Appeal") to the Planning Inspectorate against the refusal of SCC to approve the Construction Traffic Management Plan and discharge Condition 19.

Europa will also resubmit the Construction Management Plan to SCC for their consideration ("the Resubmittal"). In parallel with this, Europa will undertake additional consultations with Parish Councils and residents of Coldharbour Lane to provide further information regarding the Traffic Management Plan.

The Resubmittal and the Appeal form part of a dual track approach the Joint Venture Partners believe provides the best opportunity for a successful planning outcome and which will enable the discharge of Condition 19."

For further information, please contact:

 
 Union Jack Oil plc            [phone] 
 David Bramhill 
 
 SP Angel Corporate Finance 
  LLP                          [phone] 
 Nominated Adviser and 
  Joint Broker 
 Lindsay Mair 
 Richard Hail 
 
 Turner Pope Investments 
  (TPI) Ltd                    [phone] 
 Joint Broker 
 Ben Turner 
 James Pope 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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November 21, 2017 02:00 ET (07:00 GMT)