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Pin to quick picksUnion Jack Share News (UJO)

Share Price Information for Union Jack (UJO)

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Share Price: 25.25
Bid: 25.00
Ask: 25.50
Change: -1.25 (-4.72%)
Spread: 0.50 (2.00%)
Open: 26.50
High: 26.00
Low: 25.25
Prev. Close: 26.50
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Union Jack Oil Says Rathlin Energy Plans To Test West Newton Well

Wed, 24th Jul 2019 18:24

(Alliance News) - Union Jack Oil PLC Wednesday said Rathlin Energy Ltd is progressing plans to test West Newton A-2 well in accordance with the existing planning permission, following successful drilling at the site.

Shares in Union Jack closed down 5.5% at 0.26 pence.

Union Jack holds a 16.665% interest in this licence containing the West Newton A-1 discovery well and the West Newton A-2 conventional appraisal well.

Union Jack said based on the analysis of the data gathered while drilling, it was uncertain whether the well may flow oil or gas, or a combination of both. Additionally, the composition of the hydrocarbons would need to be determined during the well test.

"Given the uncertainty of the hydrocarbon composition, and to ensure that Rathlin has the appropriate consents in place, an application has been submitted to East Riding of Yorkshire Council for a Hazardous Substances Consent which would allow for the storage of up to 199 tonnes of crude oil which falls in category P5b," the company said.

The well test should take approximately four to eight weeks to complete and initial works to set up the well test will be undertaken during day, Union Jack noted.

"The current planning permission for the WNA site is a temporary permission which allows for the drilling and testing of up to two wells but does not provide for the continued production of hydrocarbons after the well test. Any future plans for the site would be determined based on the information gained through the well test and obtaining the necessary regulatory permissions," Union Jack added.

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Union Jack Oil buys three US royalty packages

(Sharecast News) - Union Jack Oil announced the expansion of its mineral royalty portfolio on Tuesday, with the acquisition of three additional packages brokered by Reach Oil & Gas.

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11 Mar 2024 14:55

Union Jack Oil says drilling contract penned at Andrews-1-17 well

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27 Feb 2024 13:56

IN BRIEF: Union Jack Oil says WN-A3 well to be drilled in 2024

Union Jack Oil PLC - Bath-based UK- and US-focused oil and gas company - Says proposed well WN-A3 in West Newston project, onshore UK in East Yorkshire, is planned to be drilled during late 2024, and will be twinned with the West Newton A-1 discovery well. Adds that a feasibility study is underway for a single gas well development plan at the WN-A3 well. Chair David Bramhill says: "We plan to expedite the drilling of West Newton with the deviated WN-A3 appraisal well as soon as all remaining regulatory permissions have been granted. Discussions are already underway with the relevant authorities and work has commenced to progress drilling. Our revised drilling plan offers significant cost-savings without compromising any aspects of the project. The objective is to develop what we know to be a material onshore gas resource located in an area with excellent access to local and national infrastructure and an attractive domestic gas off-take market."

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Union Jack Oil hails two farm-in agreements in Oklahoma

(Alliance News) - Union Jack Oil PLC on Tuesday announced new deals to boost its drilling and mineral royalty portfolio.

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Union Jack Oil further expands footprint in Oklahoma

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Union Jack agrees farm-in deal on Oklahoma well

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(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.

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