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Union Jack Oil PLC - UK-focused onshore hydrocarbon production, development and exploration company - Notes, along with Reabold Resources PLC, Rathlin Energy has completed construction work at West Newton B site. Union Jack holds a 16.665% interest in PEDL183, containing the conventional West Newton A-1 discovery well and the successful West Newton A-2 appraisal well. Reabold has a 56% economic interest in West Newton. Will now begin drilling operations. The drilling will continue for six to ten weeks. The information gathered during the drilling of West Newton B-1 will inform a subsequent programme of well testing to establish productive capability and any future drilling operations.
Current stock price: 0.29 pence
Year-to-date change: up 76%
By Paul McGowan; paulmcgowan@alliancenews.com
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