logo-loader

Union Jack boss “really pleased” with Holmwood project investment

Published: 21:43 23 May 2016 AEST

David Bramhill, executive chairman of Union Jack Oil PLC (LON:UJO) speaks to Proactive Investors after the company announced it has bought into the upcoming Holmwood exploration project, in the south east of England.

He says the oil and gas junior is “really pleased to be involved” in the project, which is located close (about 12 kilometres) to the Horse Hill oil discovery and “fits our strategy a treat”.

To earn its stake Union Jack will cover a portion of upcoming well costs, which are expected to cost around £480,000.

The project is “on trend” and “drill ready” he adds, noting drilling is expected to start in the fourth quarter of 2016 or the beginning of 2017.

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