Union Jack Oil plc said it had generated US$1 million net revenues since production restarted during August from the Wressle hydrocarbon development in North Lincolnshire. PRODUCTION The company added that the current daily production figures were far in excess of the targeted 500 barrels of oil per day from the Ashover Grit reservoir. The well […]
Tag: Union Jack Oil plc
West Newton-A plans refused for six further wells
The West Newton joint venture (JV) has today had its plans for six more wells refused by East Riding of Yorkshire Council. RECOMMENDATION The partners had hoped to treble the site from two existing wells, WN-A and WN-A2, to drill and produce oil over a period of 25 years. A public consultation was held earlier […]
Union Jack turns down further 25% in Claymore Piper
Union Jack Oil plc has decided not to acquire a further 25% interest in the Claymore Piper complex royalty units in the North Sea. CORE PROJECTS In March 2021, the company acquired a 2.5% interest in the complex, which at the time it said was attractive, cash generating and high yielding, and consistent with its […]
Union Jack raises £3m via placing
Union Jack Oil plc has raised £3 million by way of a placing of 13,636,364 new ordinary shares of 5 pence each at a price of 22 pence per new ordinary share. USES Funds raised will be mainly used at the company’s onshore hydrocarbon projects in Wressle and Biscathorpe.
Wressle-1 well continues to ‘exceed expectations’
Egdon Resources plc said production continued to exceed expectations since the proppant squeeze at the Wressle-1 well on PEDL180 and PEDL182 in East Yorkshire. REVISED PERMIT The company also announced it had received the revision to the Environmental Permit. This will allow installation of a combustion plant for gas-to-electric generation and a new potential revenue […]
Egdon exceeds 500bopd with Wressle proppant squeeze
Egdon Resources plc said that the proppant squeeze had resulted in excess of 500 barrels of oil per day under extended well testing operations at Wressle, North Lincolnshire. FORECAST The operator has completed the coiled tubing operation and the Ashover Grit reservoir had returned to flow. The well flow is continuing to clean-up and has […]