Biscathorpe Planning Update - PEDL253

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/201

 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed

in accordance with the Company's obligations under Article 17 of MAR.

15 December 2025

Union Jack Oil plc

("Union Jack" or the "Company")

Biscathorpe Planning Update - PEDL253

Union Jack Oil plc (AIM: UJO, OTCQB: UJOGF) a UK and USA focused onshore hydrocarbon production, development, exploration, and investment company advises that the joint venture partnership has made the decision to withdraw the planning appeal in relation to the refusal of planning consent for a side-track drilling operation and oilfield development at Biscathorpe, contained within PEDL253. The appeal was due to be heard at a public inquiry scheduled to take place in April 2026. Subsequently, the joint venture will fulfil its regulatory obligations and relinquish the licence in due course.

Union Jack holds a 45% non-operated interest in PEDL253.

The licence operator, Egdon Resources U.K. Limited ("Egdon"), had previously secured planning consent in December 2023 for the appraisal and production of hydrocarbon resources from its Biscathorpe wellsite. A subsequent legal challenge in the High Court (July 2024) based on the Finch decision, quashed the 2023 planning consent. In September 2024, Egdon requested the Planning Inspectorate ("PINS") to redetermine the appeal by written representations. Egdon submitted an addendum to its environmental statement which documented an assessment of the expected downstream greenhouse gas emissions that would be generated from an oil development at Biscathorpe.

At the request of PINS, supplementary information was provided during 2025 that included an updated Statement of Case, an updated Statement of Common Ground, and a Climate Change Assessment. In October, PINS unexpectedly advised that a new Planning Inspector had been appointed and that he had concluded that the appeal should be conducted as a four-to-six-day inquiry, rather than by Egdon's preference for written representations.

Having considered the commercial aspects, prevailing tax regime and the continued lack of clear case law in respect of oil and gas projects in the UK post-Finch, the PEDL253 joint venture partnership has concluded that it could no longer justify its continued investment in the Biscathorpe project, and that it should therefore withdraw its appeal. This collective decision was augmented by a strengthened legislative duty applying to National Landscapes (formerly AONBs) introduced in late 2024.

David Bramhill, Executive Chairman of Union Jack Oil, commented: "With a backdrop of a changing macro-economic environment, along with the continued regulatory uncertainty in relation to how downstream emissions will be considered, we have concluded that this is the correct decision for the Company's wider objectives, which includes the future development of Wressle and the planned drilling programme in Oklahoma.

"A comprehensive review of all of Union Jack's projects in the UK and USA will be issued in January 2026."

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