Union Jack Oil pleased with Mining Waste Permit variation
(ShareCast News) - UK-focussed onshore oil and gas exploration and production company Union Jack Oil noted an update by Egdon Resources on Friday, regarding the issue by the UK Environment Agency of the variation to the Mining Waste Permit, in respect of the proposed Wressle conventional development, located within PEDL180 and PEDL182, and its associated operations.
The AIM-traded company holds a 15% interest in the licences, 3.33% of which remained subject to Oil & Gas Authority approval.
It said the issue of the permit was a "significant regulatory milestone" in the approval of the Wressle development, and lent further support to the new planning application, submitted on 28 April.
"The directors of Union Jack are naturally pleased by the issuance of this key permit by the EA," said Union Jack executive director David Bramhill.
"This event is a further positive step towards the proposed development of the Wressle-1 discovery."