Union Jack Oil PLC Wressle Development Update (1384L)
January 11 2021 - 1:00AM
UK Regulatory
TIDMUJO
RNS Number : 1384L
Union Jack Oil PLC
11 January 2021
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
11 January 2021
Union Jack Oil plc
("Union Jack" or the "Company")
Wressle Development Update
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon
production, development and exploration company is pleased to
announce that the Operator, Egdon Resources U.K. Limited, has
provided an update on progress to first oil at the Wressle
hydrocarbon development site ("Wressle").
Wressle is located within North Lincolnshire licences PEDL180
and PEDL182.
Union Jack holds a 40% economic interest in these licences.
The workover rig and associated services and equipment were
successfully mobilised to Wressle during the week commencing 4
January 2021 and that operations to recomplete and reperforate the
well have commenced.
Operations are expected to be completed to enable the Ashover
Grit reservoir to be flowed prior to the end of January 2021 as
previously advised.
The Ashover Grit reservoir is expected to produce 500 barrels of
oil per day ("bopd") at a constrained rate, increasing Union Jack`s
net production by an additional 200 bopd when fully on stream.
Recent photographs and video footage of Wressle can be found on
the Company`s website, unionjackoil.com.
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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