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https://reabold.com/wp-content/uploads/2021/01/Corporate-Presentation-January-2021.pdf
Timeline on page 11.
Why do we have to read the RBD RNS to get a timeline and update of operations?
Its outside of UJO's hands though. They are junior partners and cannot force the EWT to commence.
It's disappointing that WN-A has not been put through an EWT as yet. When will it happen? I don't have enough info to answer or speculate. I will say "the sooner the better". Is there enough data already available to get a "major" to make an offer (or an improved offer)? They are fishing for a big offer, and then it's a case of what bait you need to catch that major fish. Right now, its a sprat on the hook, a successful EWT would replace that with a mackerel. At some point, the bait will be sufficiently appetising that the major fish will be lured. Give it time.
Its outside of UJO's hands though. They are junior partners and cannot force the EWT to commence.
It's disappointing that WN-A has not been put through an EWT as yet. When will it happen? I don't have enough info to answer or speculate. I will say "the sooner the better". Is there enough data already available to get a "major" to make an offer (or an improved offer)? They are fishing for a big offer, and then it's a case of what bait you need to catch that major fish. Right now, its a sprat on the hook, a successful EWT would replace that with a mackerel. At some point, the bait will be sufficiently appetising that the major fish will be lured. Give it time.
Itās good to see UJO publish all this technical info so soon after drilling the WN B-1 and B-1Z wells. Detailed stuff like this is usually kept confidential by the OGA for up to 5 years and, once the well info has been released, you can usually obtain only the un-interpreted logs and a few other things like the geological horizons that were encountered. So IMO they must be pretty confident. I thought the computer processed logs and the core photos on Slides 4 and 5 were particularly interesting, and they are most encouraging. We can now compare the B-1Z and A-2 Kirkham Abbey intervals, and see how good the reservoir really is. The ābefore and after drillingā images in Slides 2 and 3 show exactly what happens to the KA when you move off the platform and down the slope into the Southern North Sea Basin, and demonstrate how the partnersā geological understanding has changed since WN-1 was drilled
Great stuff.
Struggling to keep up with news this am. My 4th good newsday RNS already today.
Should be a good day here
gla
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Thursday 28 January 2021
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RNS Number : 1201N
Union Jack Oil PLC
28 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
28 January 2021
Union Jack Oil plc
("Union Jack" or the "Company")
West Newton Technical Update and Presentation
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that a technical presentation in respect of the recently drilled West Newton B-1 and B-1Z appraisal wells is now available on the Company`s website www.unionjackoil.com.
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 Zechstein Basin, onshore UK, North of the river Humber. PEDL183 contains the conventional West Newton A-1, A-2 and B-1Z discoveries.
The West Newton technical presentation contains new significant technical data that is material to the ongoing commercial evaluation of the project. The presentation identifies or contains the following new information:
-- Locations for the West Newton A-1, A-2, B-1, B-1Z and a proposed B-2 well, which has planning permission in place and is provisionally planned to be drilled in H2 2021, and a demonstration of where the B-1Z well represented a considerable 2.5 kilometre step-out to the south of the A-2 well
-- Good seismic calibration across the West Newton project area, highlighting both the Kirkham Abbey "platform" and "slope" formations
- Demonstrated hydrocarbon column of at least 118 metres with no hydrocarbon-water contact
- Thick porous section identified in both A-2 and B-1Z wells suggesting a contiguous structure across the Kirkham Abbey formation
- 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 were excellent, exceeding 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
-- Numerous additional leads and prospects, including Ellerby and Spring Hill, identified across PEDL183
David Bramhill, Executive Chairman of Union Jack commented: "Following the drilling of the successful B-1Z appraisal well, the technical summary of the W