TIDMUJO
RNS Number : 9582V
Union Jack Oil PLC
20 April 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
20 April 2021
Union Jack Oil plc
("Union Jack" or the "Company")
West Newton Operations Update and Well Testing Programme
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon
production, development and exploration company, is pleased to
announce an operations update and forward well testing programme in
respect of the West Newton B-1Z ("WNB-1Z") conventional appraisal
well, operated by Rathlin Energy (UK) Limited.
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
hydrocarbon discoveries.
Highlights
-- Cased Hole Logging Programme ("CHLP") and Vertical Seismic
Profiling ("VSP") operations on the WNB-1Z well have been
completed
-- CHLP results confirmed the presence of a good cement bond of
the production liner and well bore integrity
-- Data from the VSP is currently in Romania being processed.
Initial indications are that the data is of good quality
-- The VSP data will be used to refine the 3D seismic
interpretation, primarily to be used in volumetric calculations
towards reserve/resource figures for the West Newton field and for
the identification of future well locations
-- The next phase of operations will be conducted utilising a
service rig and will be comprised of perforation and stimulation of
the Kirkham Abbey formation and subsequent flow testing of the
well
-- This phase of well testing operations is expected to commence
in May 2021. Operations will take approximately four weeks to
complete
-- Following completion of operations on WNB-1Z, the testing of the WNA-2 well will commence
-- Various thin section images taken from core plugs obtained
from the West Newton B-1Z well show porosity throughout the core
with the better samples exhibiting porosities of between 12% and
15%
The WNB-1Z Side-Track Appraisal Well
The WNB-1Z side-track appraisal well commenced during November
2020 and reached a Measured Depth of 2,114 metres. 18 metres of
core was successfully cut and recovered from the Kirkham Abbey
formation.
Highlights
-- Good seismic calibration across the West Newton project area,
highlighting both the Kirkham Abbey "platform" and "slope"
deposit
- Demonstrated hydrocarbon column of at least 118 metres with no hydrocarbon-water contact
- Thick porous section identified in both WNA-2 and WNB-1Z wells
suggesting a contiguous Kirkham Abbey reservoir across the West
Newton structure
- B-1Z well de-risks the southern component of the West Newton
licence area and crucially supports the accuracy of the seismic
interpretation across the entire platform
-- Log results at B-1Z well exceeded Union Jack's pre-drill expectations
- Good porosity throughout the interval
- Kirkham Abbey interval hydrocarbon saturated
- Mudgas concentrations observed while drilling through the
Kirkham Abbey formation at B-1Z well were as high as 9.8% total
gas
-- 18 metres of core cut and recovered from the B-1Z well
- Visible natural fracturing, micro fracturing and vuggy porosity demonstrated from
Core-lab inspection and analysis
Executive Chairman of Union Jack Oil commented:
"We are delighted to report that mobilisation in respect of well
testing, initially on the West Newton B-1Z well, is expected to
commence in May 2021.
"Initial results from the recently completed Cased Hole Logging
Programme and Vertical Seismic Profiling, coupled with historical
well log results and measurements taken whilst drilling, have all
been highly encouraging to date and the Joint Venture participants
hold high expectations for a successful flow test.
"We await with great interest the testing results over the
coming months from both WNB-1Z and WNA-2 and look forward to
updating shareholders as further progress is made."
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 info@unionjackoil.com
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 Public Relations
Alan Green/Jacqueline Briscoe
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