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 […]
Tag: Egdon Resources plc
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 […]
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 […]
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) […]
Egdon FDP and production approved for Wressle
Egdon Resources plc said that the North Sea Transition Authority had approved the field development plan and production for the Wressle oil field in North Lincolnshire. PRODUCTION The joint venture comprises Egdon as operator (30%), Union Jack Oil plc (40%) and Europa Oil & Gas (30%). Egdon added that production for the project, held in […]
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 […]