Egdon Resources plc said that production had exceeded 390,000 barrels of oil from the Wressle joint venture (JV) in North Lincolnshire. PARTNERS The JV with interests in PEDL180 and PEDL182 comprises Egdon as operator (30%), Union Jack Oil plc (40%) and Europa Oil & Gas (Holdings) plc (30%). OPERATIONS The production figure was reported to […]
Tag: Union Jack Oil plc
Union Jack reaches £12m revenue from Wressle
Union Jack Oil plc has reached material net revenues of US$12 million from the Wressle joint venture hydrocarbon development in North Lincolnshire on the western margin of the Humber Basin. OPERATIONS The figure dates from the restart of production in licences PEDL180 and PEDL182 on 19 August 2021. Union Jack, which holds a 40% economic […]
Europa repays £1m loan to Union Jack
Europa Oil & Gas (Holdings) plc said it had repaid in full the £1 million loan from Union Jack Oil plc to drill the SA02 well in the Serenity field. TERMS The loan was secured against a 10% interest in the Wressle field (PEDL180 and PEDL182), including the associated infrastructure. Europa has also repaid the […]
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 […]
Europa agrees £1m loan from Union Jack
Europa Oil & Gas (Holdings) plc has agreed a £1 million loan from Wressle onshore hydrocarbon partner Union Jack Oil plc for its developments that could include the Serenity offshore oil discovery. TERMS The loan is for 18 months and secured against an unencumbered 10% interest in the Wressle field (PEDL180, and PEDL182), with associated […]
Union Jack posts transformative half-year results
Union Jack Oil plc reported a transformative six months of the year with its inaugural profits attributed to the Wressle joint venture onshore oil and gas project in Lincolnshire. FINANCES The company’s unaudited results for the half year ended 30 June 2022 showed revenues soared to £4,384,254 (H1 2021: 241,467). Gross profit swung to a […]