Union Jack Oil PLC West Newton Online Consultation Launched (9460S)

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                                 [phone] 

Nominated Adviser and Broker

Richard Morrison

Richard Hail

Caroline Rowe

   Cassiopeia Services Ltd                                                 [phone] 

Public Relations

Stefania Barbaglio

Novus Communications Ltd [phone] / Twitter: @NovusComms

Financial PR

Alan Green / Jacqueline Briscoe

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March 22, 2021 03:00 ET (07:00 GMT)