Union Jack Oil plc has acquired a further 30% from Egdon Resources plc of the North Kelsey prospect PEDL241 in Lincolnshire. TERMS The onshore hydrocarbon exploration and development company paid a cash consideration of £100,000 and has now aligned its 50% interest with operator Egdon. Previous financial farm-in obligations in respect of the 20% interest […]
Tag: Union Jack Oil
Rathlin starts West Newton B-1 main borehole drilling
Rathlin Energy (UK) Ltd has started drilling at the onshore West Newton B-1 (WNB-1) well, following the West Newton A-2 (WNA-2) appraisal well (PEDL183), in East Yorkshire. The site operator will use a Drillmec HH 220 drilling rig to drill a borehole to an approximate depth of 2,000 metres and take six to ten weeks […]
Union Jack placing and subscription raises £7m
Onshore hydrocarbon production, development and exploration company Union Jack Oil plc raised £7 million from an “oversubscribed” placing and subscription. The company now has some £11 million which it will use to extend its drilling operations and seek acquisition opportunities following the UK’s departure from the EU, the pandemic and energy prices. Union Jack will […]
Union Jack losses widen but future remains ‘bright’
Union Jack Oil reported its total losses nearly doubled to £935,151 in the first six months of 2020 compared with £484,068 for the same period last year, but it remained confident in the future. In its unaudited results for the first six months to 30 June 2020, the company reported a fall in revenue of […]
Egdon granted more time to drill North Kelsey-1
Egdon Resources Ltd has been granted more time to drill PEDL241, containing the North Kelsey-1 well in Lincolnshire. EXTENSION Operator Egdon holds 80% and Union Jack Oil plc 20% in the licence. Lincolnshire County Council first granted temporary planning permission to drill an exploratory conventional oil in 2014. Egdon has now been given a further […]
Egdon starts site works on Wressle JV oil field
Egdon Resources plc has started site works on the joint venture (JV) Wressle oil field near in the East Riding of Yorkshire. DESIGNS The site is in PEDL180 and PEDL182 where Egdon holds a 30% operated interest. The company said that a civils contractor had mobilised and works to reconfigure the Wressle production site had […]