Union Jack Oil PLC - UK-focused onshore hydrocarbon production, development and exploration company - Notes, along with Reabold Resources PLC, that Rathlin Energy has submitted screening requests to East Riding of Yorkshire Council for two new potential hydrocarbon well sites, West Newton C and West Newton D. Union Jack holds a 16.665% interest in PEDL183, containing the West Newton site. Reabold has a 56% economic interest in West Newton. This is the first step of the planning process to further explore and appraise the West Newton hydrocarbon field, Rathlin said, and will determine whether planning application submissions for West Newton C and West Newton D will require environmental impact assessments.
"Further exploration and appraisal of the West Newton Field will continue to progress the company's understanding of the West Newton hydrocarbon prospect," Rathlin said.
Union Jack Oil current stock price: 0.280 pence
Year-to-date change: up 70%
Reabold Resources current stock price: 0.70 pence
Year-to-date change: down 8.6%
By Paul McGowan; paulmcgowan@alliancenews.com
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Reabold Resources (RBD)
Union Jack (UJO)