- Union Jack Oil said it welcomed a UK government statement that reiterated that shale-gas developments were of national importance ahead of a looming review of permitting rules.

The government was due publish revised planning practice guidance on shale developments this summer, the company said.

Authorities would also launch a consultation that would consider allowing exploration wells to be drilled under permitted development, without the need for a planning application.

'The statement not only highlights the importance of securing stable domestic gas supplies while minimising harmful environmental impacts, but also the substantial economic benefits that the development of onshore gas production can bring to local communities and the UK as a whole,' chief executive David Bramhill said.

'Union Jack and its peers welcome this progressive change in attitude by key ministers.'

At 10:01am: [LON:UJO] Union Jack Oil Plc share price was +0.01p at 0.12p

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