Share Prices & Company Research

Market News

25 Jan 2019 | 07:40

Union Jack Oil welcomes planning consent extension for Wressle discovery in UK

Union Jack Oil said UK regulators had approved an extension of the existing planning consent by a year for the Wressle discovery in Lincolnshire.

The original application had been refused by North Lincolnshire Council's planning committee on 1 August 2018, despite having been recommended for approval by their planning officer.

'This extension to the existing planning consent to 24 January 2020 should allow the required time for the determination of an appeal against the refusal on 28 November 2018 by the Council's Planning Committee of the operator's application for the development of Wressle,' the company said.

Wressle-1 was drilled in 2014 and tested in 2015, flowing a combined 710 barrels of oil equivalent a day.

'To echo the thoughts of our joint venture partners in this potentially company making project, we are very pleased that the planning inspector supported the operator's position in relation to this appeal,'chief executive David Bramhill said.

'Following this positive outcome, we now look forward to the planning inspector considering at a future public enquiry an appeal against the further refusal by the council on the 28 November 2018 of the revised development proposals for Wressle.'

'The operator plans to submit the initial appeal documentation for Wressle in the coming week.'

'We also believe the new proposals for Wressle comprehensively addressed the reasons highlighted by the planning inspector in his original dismissal of the development appeals in January 2018.'

'This position was supported by the recommendation for approval given by the council's planning officer, also reinforced by an expert third party review undertaken on behalf of the council.'

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.