News Oil & Gas

Union Jack increases share in Egdon

Union Jack Oil plc has increased its share to 3.13% in Egdon Resources, the operator of the hydrocarbon joint venture (JV) at Wressle, North Lincolnshire. NET REVENUES The news comes as Union Jack reported net revenues of US$10 million from the JV in PEDL180 and PEDL182 since the restart of production in August 2021. The […]

News Oil & Gas

Egdon welcomes lifting of hydraulic fracturing ban

Egdon Resources plc described today’s government approval for hydraulic fracturing as logical and pragmatic in a changing political world. MORATORIUM The company was responding to the announcement by new Prime Minister Liz Truss of the lifting the moratorium introduced in November 2019. The ban followed reported earthquakes at operations by Cuadrilla Resources, now owned by […]

News Oil & Gas

Egdon appeals against refusal for more time at North Kelsey

Egdon Resources plc said it had submitted an appeal against local authority refusal for more time to drill and test the exploration well at North Kelsey in Lincolnshire. NORTH KELSEY North Kelsey, in PEDL241 covering 55km2, is a conventional oil exploration prospect on trend with and analogous to the Wressle development which lies some 15km […]

News Oil & Gas

Union Jack reaches $7m revenue from Wressle

Union Jack Oil plc (UJO) said it had reached net revenues of $7,000,000 (£5.7m) from the Wressle hydrocarbon joint venture development in North Lincolnshire. JOINT VENTURE The company holds a 40% economic interest in the project, which lies in PEDL180 and PEDL182, along with operator Egdon Resources plc (30%) and Europa Oil & Gas (Holdings) […]

Finance News Oil & Gas

Egdon records £2.2m revenue and repays £1m loan

Egdon Resources plc has repaid the £1 million facility loan to Union Jack Oil plc and recorded £2m revenue from its onshore oil projects. FINANCES The company’s unaudited report for Q3 of its financial year (February to April 2022) showed revenue of £2.23m (2021: £0.31m and H1 2022: £2.55m). Egdon said that revenue was primarily […]