(Alliance News) - Europa Oil & Gas Holdings PLC and Union Jack Oil PLC on Wednesday announced
workover operations on the Wressle-1 well to install a downhole jet pump and recomplete the well have been successfully concluded.
Both companies also said that the final stages of the surface facilities upgrades are close to completion.
Europa is a UK and Ireland-focused oil and gas exploration, development, and production company, while Union Jack Oil is a Bath, England-based UK-focused onshore hydrocarbon production, development, and exploration company.
Europa owns a 30% stake in Wressle, while Union Jack Oil holds 40%. The remaining 30% is owned by Egdon Resources PLC.
The well is located in North Lincolnshire on the east coast of England. Both companies said that the workover rig has been demobilised from the Wressle site.
The companies added that a new surface Triplex pump was purchased has already been installed and connected. The re-instatement of production operations at Wressle-1 well is currently expected next week.
Europa Oil & Gas Chief Executive Officer Will Holland said: "Operations to install a jet pump at our core Wressle oilfield are progressing well, with production from the field expected to restart next week. We are pleased that the work has gone so smoothly and I look forward to updating the market on resumption of production".
Shares in Europa were trading 2.2% lower at 1.20 pence each in London on Wednesday afternoon, while
Union Jack Oil shares were down 0.9% at 19.33 pence each.
By Sabrina Penty, Alliance News reporter
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Europa Oil & Gas (EOG)
Union Jack (UJO)