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Share Price: 24.00

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Change: -0.50 (-2.04%)

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Union Jack, Europa O&G note Egdon update on Wressle future plans

Wed, 29th Nov 2023 17:20

(Alliance News) - Union Jack Oil PLC and Europa Oil & Gas Holdings PLC on Wednesday both noted Egdon Resources UK Ltd's community update on the Wressle oilfield development in North Lincolnshire, including PEDL180 and PEDL182 assets.

Union Jack has a 40% economic interest in both assets, while Europa O&G has 30%, as does Egdon Resources PLC.

Both Union Jack and Europa O&G said Egdon Resources provided an update on Wressle to the local community on new plans for the oil development. This includes a consultation, which is now live online and available until December 24, allowing the local community to provide feedback on its proposals.

Shares in Union Jack were down 1.3% to 19.00 pence each in London on Wednesday afternoon, while Europa O&G shares were up 2.0% to 1.00p each.

By Greg Rosenvinge, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

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15 Jan 2024 11:34

Union Jack shares rise on Wressle revenue and production update

(Alliance News) - Union Jack Oil PLC on Monday said it has achieved revenue of over USD18.0 million at its Wressle hydrocarbon development since production restarted in August 2021.

15 Jan 2024 07:42

Union Jack reaches $18m revenue since Wressle restart

(Sharecast News) - Union Jack Oil reported significant net revenues exceeding $18m from the Wressle hydrocarbon development on Monday.

2 Jan 2024 11:05

Union Jack and Europa Oil get resources upgrade for Wressle field

(Alliance News) - Union Jack Oil PLC and Europa Oil & Gas Holdings PLC on Tuesday said an independent assessment has increased the oil reserves of their licences at the Wressle field onshore in Lincolnshire, England.

19 Dec 2023 12:43

Europa Oil & Gas and Union Jack Oil toast flow rate at Wressle-1 well

(Alliance News) - Europa Oil & Gas Holdings PLC and Union Jack Oil PLC on Tuesday said that production had increased at the UK onshore Wressle-1 well.

8 Nov 2023 13:29

IN BRIEF: Union Jack, Europa Oil note Wressle-1 back up and running

Union Jack Oil PLC - UK-focused onshore hydrocarbon production, development, and exploration company - Wressle-1 well has been brought back into production following installation of a downhole jet pump. "Since production resumed, flow-rates in excess of 950 barrels of oil per day have been recorded. The well is now on continuous 24-hour production and is still cleaning up. Export and sale of oil has recommenced," Union Jack says. The firm owns a 40% interest in the asset. Europa Oil & Gas Holdings PLC, with a 30% stake, also notes the development.

6 Nov 2023 11:26

Union Jack upbeat on favourable Biscathorpe-2 planning decision

(Sharecast News) - Union Jack Oil announced a favourable decision from the Planning Inspectorate regarding its appeal for planning permission at the Biscathorpe-2 well site in Lincolnshire on Monday.

18 Oct 2023 14:22

Europa Oil & Gas, Union Jack Oil say Wressle work complete

(Alliance News) - Europa Oil & Gas Holdings PLC and Union Jack Oil PLC on Wednesday announced

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11 Sep 2023 13:30

Union Jack Oil maintains "strong financial position" but earnings fall

(Alliance News) - Union Jack Oil PLC on Monday said its profit, revenue and earnings decreased in its latest half year, but that its balance sheet is "robust" and the future "remains bright."

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3 Aug 2023 11:50

Egdon, Europa and Union Jack say Wressle well producing water

(Alliance News) - Egdon Resources PLC, Europa Oil & Gas Holdings PLC and Union Jack Oil PLC on Thursday said the Wressle 1 well in Liconolnshire, England has begun to produce a small amount of water, accounting for 3.7% of the total production fluid for July.

14 Jun 2023 11:48

IN BRIEF: Union Jack Oil generates USD16 million at Wressle site

Union Jack Oil PLC - Bath, England-based UK-focused onshore hydrocarbon production, development, and exploration company - Reports its material landmark net revenues is in excess of USD16 million in the Wressle hydrocarbon development located in North Lincolnshire, since production recommenced in August 2021. Union Jack Oil has a 40% economic interest in this development. Says oil production stable at 780 barrels per day, compared to 750 barrels on June 20, 2022.

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