Union Jack Oil PLC - UK-focused onshore oil and gas exploration company - Following drilling of West Newton B1Z, substantial hydrocarbon column within a 62-metre interval was encountered in the Kirkham Abbey formation.
Although awaiting confirmation of logging and other information, there is scope for the overall hydrocarbon column to exceed the current identified interval considerably.
"The initial results of the WNB1Z appraisal well exceeded our expectations," said Executive Chair David Bramhill.
"There remains an extensive number of technical studies to be carried out to complete analysis of the WNB1Z well data, including correlation of the A1, A2 and B1Z well results and updated resource volumetric estimates, all of which will have a bearing on the planning and timing of the testing programme which is the next important milestone in determining the development potential of the West Newton project," Bramhill added.
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By Dayo Laniyan; dayolaniyan@alliancenews.com
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Union Jack (UJO)