leadf
logo-loader
RNS
viewUnion Jack Oil PLC

Union Jack Oil PLC - Wressle Development Update

RNS Number : 1384L
Union Jack Oil PLC
11 January 2021
 

Market Abuse Regulation (MAR) Disclosure

  Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

 

 

11 January 2021

 

Union Jack Oil plc

("Union Jack" or the "Company")

Wressle Development Update

 

Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that the Operator, Egdon Resources U.K. Limited, has provided an update on progress to first oil at the Wressle hydrocarbon development site ("Wressle").

 

Wressle is located within North Lincolnshire licences PEDL180 and PEDL182.

 

Union Jack holds a 40% economic interest in these licences.

 

The workover rig and associated services and equipment were successfully mobilised to Wressle during the week commencing 4 January 2021 and that operations to recomplete and reperforate the well have commenced.

 

Operations are expected to be completed to enable the Ashover Grit reservoir to be flowed prior to the end of January 2021 as previously advised.

 

The Ashover Grit reservoir is expected to produce 500 barrels of oil per day ("bopd") at a constrained rate, increasing Union Jack`s net production by an additional 200 bopd when fully on stream.

 

Recent photographs and video footage of Wressle can be found on the Company`s website, unionjackoil.com.

 

 

Competent Person`s Statement

In accordance with the "AIM Rules - Note for Mining and Oil and Gas Companies," the technical information contained within this announcement has been reviewed and approved by Graham Bull, Non-Executive Director. He is a member of the Petroleum Exploration Society of Great Britain, the American Association of Petroleum Geologists and a Fellow of the Geological Society of London and has over 46 years of international oil and gas industry experience.

 

 

For further information, please contact:

Union Jack Oil plc                                                         Via Cassiopeia Services Ltd

David Bramhill

 

SP Angel Corporate Finance LLP                                +44 (0)20 3470 0470

Nominated Adviser and Broker

Richard Morrison

Richard Hail

Caroline Rowe

 

Cassiopeia Services Ltd                                                 +44 (0)7949 690 338

Public Relations

Stefania Barbaglio

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDFLFVRLDITIIL

Quick facts: Union Jack Oil PLC

Price: -

Market: AIM
Market Cap: -
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Sigh of relief from Union Jack Oil after Wressle re-submission

David Bramhill, executive chairman of Union Jack Oil PLC (LON:UJO), talks to Proactive's Andrew Scott after Egdon Resources Plc (LON:EDR), the operator of the Wressle project in which UJO and Europa Oil & Gas PLC (LON:EOG) have stakes, submitted a new planning application for the...

on 9/7/18

3 min read