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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: 15.25
Bid: 14.50
Ask: 16.00
Change: 0.00 (0.00%)
Spread: 1.50 (10.345%)
Open: 15.25
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Low: 15.25
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Union Jack Oil upbeat on latest data from Biscathorpe

Mon, 30th Mar 2020 15:42

(Sharecast News) - UK-focussed onshore hydrocarbon company Union Jack Oil updated the market on the Biscathorpe project on Monday, located within Lincolnshire licence PEDL253.
The AIM-traded firm holds a 27.5% economic interest in the licence.

It said economic modelling had indicated a "financially robust" project in the current oil price environment.

Break-even full-cycle economics were estimated to be $18.07 per barrel of oil, with the principal Westphalian target having an unrisked gross net present value at a 10% discount (NPV10) of ?55.6m.

The secondary Dinantian Carbonate target was a possible additional commercially viable play, the company said.

It added that accessible drill targets had been identified for a side-track from the suspended Biscathorpe-2 well following 3D seismic reprocessing.

"We are highly encouraged by the conclusions of this detailed review of data in respect of Biscathorpe, particularly given the attractive resource volumes and values associated with the Westphalian and Dinantian targets," said executive chairman David Bramhill.

"The collective extensive technical information analysed over the past several months, combined with the APT conclusions on the likely presence of good quality oil have materially upgraded the resource potential and economic value of the project, upholding our opinion that PEDL253 remains one of the UK's largest onshore un-appraised conventional hydrocarbon licences.

"We look forward to providing further updates to shareholders as the Biscathorpe project develops."

At 1535 BST, shares in Union Jack Oil were down 1.79% at 0.093p.
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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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13 Feb 2024 09:18

Union Jack Oil further expands footprint in Oklahoma

(Sharecast News) - US and UK-focused onshore oil explorer Union Jack Oil has signed two further farm-in agreements with Reach Oil & Gas for the Wilzetta Fault oilfields in central Oklahoma, which is thought to have substantial reserves.

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TRADING UPDATES: Power Metal firms Tati gold; Union Jack inks deal

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Union Jack agrees farm-in deal on Oklahoma well

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29 Jan 2024 11:25

Union Jack Oil to expand operations to US through new partnership

(Alliance News) - Union Jack Oil PLC on Monday said it will expand its operations to the US through a partnership with Reach Oil & Gas Inc.

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Union Jack shares rise on Wressle revenue and production update

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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.

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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.

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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.

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

(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.

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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.

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