Reabold Resources plc said that the Environment Agency had approved the use of oil-based drilling fluids during drilling and testing the West Newton B-2 well. FUNDING The variation of the permit for the West Newton B well site allows joint venture partner and operator Rathlin Energy (UK) Ltd to use oil-based fluids within the Permian […]
Tag: Union Jack Oil plc
Union Jack invests in Beacon Energy
Union Jack Oil plc has purchased its first international interest with a 3.22% stake in onshore Germany-focused oil and gas company Beacon Energy plc. SYNERGY The purchase is equivalent to 439 million shares in the production, development, appraisal and exploration company through its wholly owned subsidiary, Rhein Petroleum GmbH. Union Jack’s acquisition was part of […]
Union Jack looks overseas to cut risks to UK assets
Union Jack Oil plc is investigating international oil and gas opportunities to lessen future risk in its UK projects. STRATEGY In its half year report, the company said that there were still “several rich pickings” in onshore domestic oil and gas but that the regulatory process was “painfully slow”. “Over the past year we have […]
Artificial lift aims to improve Wressle-1 production
Egdon Resources plc has started to install artificial lift on the Wressle-1 oil well to optimise production at the joint venture project in North Lincolnshire. METHOD The partners on PEDL180 and 182 comprise operator Egdon (30%), Europa Oil & Gas (Holdings) plc (30%) and Union Jack Oil plc (40%). Work began with a slickline programme and […]
Higher recoverable oil volumes expected at Wressle
Egdon Resources plc anticipates higher recoverable volumes of oil than 2016 estimates following the late stage start of water production at the Wressle joint venture in North Lincolnshire. CPR The operator said that the start of “limited volumes” of water from the Ashover Grit, accounting for an average 3.72% of total fluid produced during July […]
Union Jack director buys 133,400 shares
Union Jack Oil plc executive director Joseph O’Farrell has purchased 133,400 ordinary shares of 5p each in the company at a weighted average price of 31.25p each. Following the purchase for £41,685, Mr O’Farrell owns 2,031,314 ordinary shares, equal to 1.80% of the total issued share capital.