Be sure to check our sister interview main ratings news website

Union Jack Oil plc New Comprehensive Planning Application Submitted for Wressle Development

Commenting, David Bramhill, Executive Chairman of Union Jack, said:

“The operator has today submitted a comprehensive planning application on behalf of the joint venture partners for the development of the Wressle oil field.

Wressle is material to Union Jack and the economic impact of establishing commercial oil production will be transformative for our Company.

Considerable work has been carried out to address all the issues identified previously. As part of our ongoing belief in the development of Wressle, Union Jack reaffirmed its support in June 2018 by acquiring a further 12.5% interest, increasing our interest to 27.5%*.

Union Jack also fully supports the operator’s proposal in respect of a community liaison group and a community fund to ensure the local community are kept fully informed and share in the benefits of the Wressle development.”

Union Jack Oil plc (LON:UJO), a UK-focused onshore hydrocarbon production, development and exploration company, notes the announcement released today by Edgon Resources plc, confirming that a new comprehensive planning application in respect of the development of the Wressle oil field has been submitted to North Lincolnshire Council.

Read in Full
Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Union Jack Oil

More articles like this

Union Jack Oil

Oil markets edge up as investors weigh China’s growth promise

2nd January 2025

Oil prices gained modest ground as 2025 began, reflecting cautious optimism among investors analysing China’s economic outlook and fuel demand. A commitment from Chinese President Xi Jinping to implement growth-focused policies has prompted speculation about potential

Union Jack Oil

Positive steps forward for Union Jack Oil

28th November 2024

Union Jack Oil plc announced encouraging developments in the Taylor 1-16 well in Seminole County, Oklahoma. The well, drilled by operator Reach Oil and Gas Inc., has revealed a high-quality hydrocarbon-bearing reservoir, with two additional potential

Union Jack Oil

Oil prices see modest recovery amid rising tensions

18th November 2024

Oil prices experienced a slight increase on Monday as escalating conflict between Russia and Ukraine captured global attention. Brent crude rose by 55 cents (0.8%) to $71.59 a barrel, while U.S. West Texas Intermediate crude climbed

Union Jack Oil

Oil prices gain amid market uncertainty

13th November 2024

Oil prices remained steady near two-week lows on Wednesday, with markets cautiously eyeing global demand and recent OPEC projections. OPEC reduced its growth forecasts for oil demand in 2024 and 2025, attributing the adjustment to economic

Union Jack Oil

Oil prices edge up amid strategic reserve plans

29th October 2024

Oil prices showed an increase on Tuesday after a significant drop of 6% in the prior session. The rise came as the United States outlined a plan to purchase oil for its Strategic Petroleum Reserve (SPR),

Union Jack Oil

Oil prices recover after sharp decline

21st October 2024

Oil prices experienced a modest recovery in Asian trading on Monday, following a significant drop of more than 7% last week. The fall was driven by concerns over weakening demand in China, the world’s largest oil

© 2024 – DirectorsTalk. All rights reserved. Reproduction in whole or in part, in any form or medium without express written permission is prohibited.