TIDMUJO
RNS Number : 8754T
Union Jack Oil PLC
30 March 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.
30 March 2021
Union Jack Oil plc
("Union Jack" or the "Company")
West Newton Operations Update PEDL183
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon
production, development and exploration company, is pleased to
offer an update in respect of the future planned test programmes at
West Newton.
The Company holds a 16.665% economic interest in PEDL183,
encompassing an area of 176,000 acres and located within the
Western sector of the Southern Permian Basin, onshore UK, North of
the river Humber. PEDL183 contains the WNA-1, WNA-2 and WNB-1Z
discoveries.
Highlights:
-- Draft Environmental Agency permit received for completion,
well clean-up and Extended Well Test ("EWT") at WNB-1Z and
additional wells at the West Newton B site
-- First phase of evaluation, including Cased Hole Logging
Programme and Vertical Seismic Profiling, of WNB-1Z to commence in
April 2021
-- Processing and interpretation of data expected to take two
weeks and will inform completion, well clean-up and EWT operations
for WNB-1Z well
-- Preparations for updated Competent Person's Report at West Newton in progress
Environmental Agency Permit
The Operator of PEDL183, Rathlin Energy (UK) Limited applied to
vary the West Newton B Wellsite permit and has received a draft of
the varied permit from the Environmental Agency ("EA") that will
accommodate completion, well clean-up and EWT operations. This
permit includes the WNB-1Z discovery well and any additional wells
planned for the West Newton B site.
An EA permit is already in place at the West Newton A site, that
includes further clean-up and EWT operations on the WNA-2 well.
Cased Hole Logging Programme ("CHLP") and Vertical Seismic
Profiling ("VSP") Survey
The first phase of the evaluation programme on the WNB-1Z
discovery well is planned to commence in April 2021 and will
initially be comprised of a customised CHLP including a cement bond
log, a Weatherford Raptor evaluation tool to log the Kirkham Abbey
formation and a VSP.
The Raptor tool is a pulsed neutron wireline logging device that
provides a quantification and advanced analysis of oil, gas and
water saturations and potential fluid contacts in a cased
wellbore.
This cased hole logging activity will be followed by a VSP
survey that will provide a high-resolution calibration of the
existing 3D seismic data and is considered to be a more accurate
method of calibrating previously interpreted formation tops and
previously calculated time-estimated formation depths.
Following completion of the CHLP and VSP survey, the processing
and interpretation of the data acquired is expected to take
approximately two weeks and will help inform the completion, well
clean-up and EWT operations on the Kirkham Abbey formation for the
WNB-1Z well.
Competent Person's Report
Data gathered from the completion and EWT programme will be
incorporated with the existing information to produce a new
Competent Person's Report ("CPR").
Discussions regarding the appointment of a highly respected
global consultancy to produce a CPR on West Newton are at an
advanced stage. The JV expects to be in a position to announce this
appointment in the near future.
Competent Person's Statement
In accordance with the "AIM Rules - Note for Mining and Oil and
Gas Companies," the information contained within this announcement
has been reviewed and signed off by Graham Bull, Non-Executive
Director, who 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
Novus Communications Ltd +44 (0)20 7448 9839 /
Twitter:@NovusComms
Financial PR
Alan Green/Jacqueline Briscoe
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END
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