Europa Oil & Gas (Holdings) plc said that pump and production rates had been increased with Environment Agency approval at the Wressle onshore joint venture. OPTIMISE Partners in PEDL180/182 comprise Europa (30% economic interest) Union Jack Oil plc (40%) and operator Egdon Resources plc (30%). The EA permits allow the company to handle higher volumes […]
Tag: Wressle oil field – Lincolnshire
Wressle-1 resumes production with down-hole jet pump
The Wressle-1 well has been brought back into production at the joint venture within PEDL180/192 oil field in Lincolnshire. SALES Project partners comprise operator Egdon Energy plc (30%), Union Jack Oil plc (40%) and Europa Oil & Gas (Holdings) plc (30%). Union Jack and Europa said that the down-hole jet pump, installed in October, and […]
Europa profits rise despite low oil prices and weak pound
Profits rose more than 50% during a year of “significant” operational and financial progress for Europa Oil & Gas (Holdings) plc. WRESSLE Results ended 31 July 2023 show stable revenue of £6.7 million “despite a lower oil price and weaker pound” (2022: £6.6m). Gross profit increased by 53% to £3.4m (2022: £2.2m) with pre-tax loss […]
Union Jack sells 2.5% royalty interest in Claymore
Union Jack Oil plc has sold for an undisclosed sum its 2.5% interest in the royalty agreement for the Claymore area in the central North Sea. COMPLEX In March 2021, the company signed the £93,730 deal for part of the royalty unit over 20% of the revenues from a complex comprising three fields of Claymore, […]
Europa swings to pre-tax loss
Europa Oil & Gas (Holdings) plc recorded its highest interim revenues from the onshore Wressle oil field but swung to a pre-tax loss due to an offshore exploration impairment charge in Morocco. FINANCES The company’s unaudited interim results for the six months ended 31 January 2023 showed revenues increased to £3.7 million (H1 2022: £2.2m), […]
Egdon production and revenue increase
Egdon Resources plc reported a rise in production and revenue mainly from its operations at the joint venture Wressle oil field in North Lincolnshire. FINANCES The company’s summary unaudited trading report for six months ending 31 January 2023 showed revenue increased by 46% to £3.725 million (H1 2022: £2.551m). As at 31 January 2023, Egdon […]