Union Jack Oil, an onshore hydrocarbon production, development and exploration company, has announced that the Planning Inspectorate has upheld an appeal against the refusal of planning permission by Lincolnshire County Council for a side-track drilling operation, associated testing and long-term oil production at the Biscathorpe-2 wellsite.

The Biscathorpe project is covered by onshore UK licence PEDL253. The PEDL253 joint venture partnership will review the decision notice and associated planning conditions before providing an update on plans for progressing operations.

As part of this, it is said the operator, Egdon Resources Limited, will look to engage with the local community to ensure activities have minimal impact on local amenity.

Union Jack holds a 45% economic interest in PEDL253.

David Bramhill, executive chairman of Union Jack, said: “I am delighted to report this highly positive news in respect of Biscathorpe, one of our highest ranked projects, in which Union Jack holds a material 45% economic interest.

“While drilling the Biscathorpe-2 well, there were hydrocarbon shows, elevated gas readings and sample fluorescence observed over the entire interval from the top of the Dinantian to the Total Depth of the well, with 68 metres being interpreted as oil-bearing.

“Independent Consultants Applied Petroleum Technology also conducted analyses, confirming a hydrocarbon column of 33-34 API gravity oil, comparable with the oil produced at the nearby Keddington oilfield where Union Jack holds a 55% economic interest.

“Re-processing of 264 square kilometres of 3D seismic, indicate a material and potentially commercially viable hydrocarbon resource remaining to be appraised.

“The operator has assessed, in accordance with the PRMS Standard, gross Mean Prospective Resources of approximately 6.5 million barrels of oil. Commercial screening has indicated break-even full cycle economics to be US$18.07per barrel of oil.

“Union Jack’s technical team believe that Biscathorpe remains one of the largest unappraised conventional onshore discoveries within the UK. I thank shareholders for their patience and remain confident that both investors and the company will be well rewarded in due course.”

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Applications have opened for the next cohort of a £1.2 million support programme for East Midlands creative businesses.

Companies are being encouraged to apply for the second phase of Create Growth, which is funded by the Department for Culture, Media & Sport (DCMS).

It comes as 23 East Midlands businesses completed the first cohort of the regional business growth accelerator.

The inaugural cohort, made up of firms from across Leicester, Leicestershire, Derby and Derbyshire, and Lincoln, Greater Lincolnshire and Rutland, have benefited from a programme of focused support over the last eight weeks.

Participants ranged from marketing and design agencies to architects, theatre companies to video producers.

Businesses completed an initial business health check, attended a full-day business bootcamp – which included opportunities to network, and logged on to eight virtual masterclasses covering themes including leadership, marketing, sales, finance and business planning.

As well as the 90-minute masterclasses delivered by industry experts, all participants were also assigned a mentor offering five hours of free support.

Guy Lewis, Director at programme delivery partner CDI Alliance, said: “Our first cohort were enthusiastic, engaged and committed to the programme.

“We’ve had some really encouraging feedback about the bootcamp session, masterclasses, and support offered throughout the programme, and look forward to seeing what’s next for the businesses who took part in Cohort One.”

All of the participating businesses now have the option to complete a fully funded 12-hour investment readiness workshop, helping to prepare their firms for growth.

To be eligible for Cohort 2 of the East Midlands Create Growth programme, businesses must:

• Have turnover growth of 10% year-on-year over approximately 3 years (including either prior to or during the Pandemic)

• Employ a minimum of 2 people over the last two years (full-time, part-time or freelance)

• Have created a revenue generating product, launched a new platform or service, or reached a market of scale

• Generated sales revenue in the last 2 years

• Be trading or registered within Leicester, Leicestershire, Derby, Derbyshire, Greater Lincolnshire, or Rutland.