Union Jack Oil plc and its partners have withdrawn their appeal against refusal of planning permission to drill a side-track and develop the Biscathorpe oil field in the Lincolnshire Wolds. INQUIRY The JV is expected to relinquish PEDL253 “in due course”, some ten years after operator Egdon Resources UK Ltd acquired the licence. Union Jack […]
Tag: PEDL253
Egdon plans rejected for side-track at Biscathorpe
Egdon Resources plc has been refused planning permission for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe site (PEDL253) in Lincolnshire. OPTIONS The county council’s planning committee rejection is against the council’s planning officers recommendation to approve the operator’s plans. The project’s joint venture partner Union Jack Oil plc (45%) […]
Union Jack increases stake in Biscathorpe for £1m
Union Jack Oil plc (UJO) today said it now held 45% interest in the Biscathorpe joint venture project PEDL253 after buying a 15% stake from Humber Oil & Gas for £1 million. TERMS Other shareholders of the licence include operator Egdon Resources UK Ltd with 35.8% and Montrose Industries Ltd 19.2%. UJO will pay £500,000 […]