Union Jack Oil PLC West Newton Drilling Operations Update (0910G)
November 23 2020 - 1:00AM
UK Regulatory
TIDMUJO
RNS Number : 0910G
Union Jack Oil PLC
23 November 2020
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement
23 November 2020
Union Jack Oil plc
("Union Jack" or the "Company")
West Newton Drilling Operations Update
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon
production, development and exploration company is pleased to
provide an update on the West Newton B-1 appraisal well (WNB-1)
where drilling operations are on-going.
Union Jack holds a 16.665% interest in PEDL183, containing the
conventional West Newton A-1 discovery well and the West Newton A-2
appraisal well.
The WNB-1 well has been drilled safely to a Total Depth of 2,295
metres, encountering both the primary and secondary objectives, the
Kirkham Abbey and Cadeby formations, respectively.
The Kirkham Abbey formation indicated a hydrocarbon charge based
on wireline logs, cuttings and mud gas readings. The secondary
target, the Cadeby formation contained insufficient reservoir
development within the targeted slope environment.
The Joint Venture has commenced a side-track drilling operation
from the WNB-1 well and following preparatory engineering exercises
the West Newton B-1Z (WNB-1Z) will be drilling ahead during the
next few days.
The objective of the WNB-1Z side-track well is to further
appraise the Kirkham Abbey formation on a structurally superior
location, targeting enhanced reservoir quality and on-trend with
the previously discovered Kirkham Abbey accumulations. The
information derived from both the WNB-1 and WNB-1Z wells will
provide additional data to inform the optimal locations of future
development wells at the West Newton project.
Drilling activities at the West Newton B site are ongoing and
shareholders and the market will be updated following completion of
drilling operations and evaluation in due course.
Competent Person`s Statement
In accordance with the "AIM Rules - Note for Mining and Oil and
Gas Companies," the technical information contained within this
announcement has been reviewed and approved by Graham Bull,
Non-Executive Director. He is a member of the Petroleum Exploration
Society of Great Britain, the American Association of Petroleum
Geologists and a Fellow of the Geological Society of London and has
over 46 years of international oil and gas industry experience.
For further information, please contact:
Union Jack Oil plc Via Cassiopeia Services Ltd
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Broker
Richard Morrison
Richard Hail
Caroline Rowe
Cassiopeia Services Ltd +44 (0)7949 690 338
Public Relations
Stefania Barbaglio
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END
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