Union Jack Oil announced on Monday that the planning inspectorate in the U.K. has upheld their appeal, granting permission for the continuation of development plans at the Biscathorpe-2 wellsite. Previously, Lincolnshire County Council had refused planning permission for developments at the site, but the U.K. planning inspectorate has now overturned that decision.
As the holder of a 45% stake in the onshore U.K. license, PEDL253, Union Jack Oil is pleased with the outcome. The council had initially rejected permission for a side-track drilling operation, associated testing, and long-term oil production at Biscathorpe-2.
In response to the decision, Union Jack Oil’s joint-venture partnership for the site will carefully review the ruling and the associated planning conditions before providing an update on their plans moving forward. Operator Egdon Resources will also work closely with the local community, ensuring transparency and open communication throughout the process.
The company’s technical team estimates that there are approximately 6.5 million barrels of oil in gross mean prospective resources at Biscathorpe. Executive Chairman David Bramhill expressed his gratitude to shareholders for their patience and expressed confidence that both investors and the company will be rewarded in due course.