(Alliance News) - Union Jack Oil PLC and Reabold Resources PLC on Wednesday both issued statements addressing "market speculation" around West Newton A-2 operations in Yorkshire.
Shares in Union Jack were up 7.0% at 0.2433 pence in London on Wednesday afternoon, having risen 16% this week. Reabold shares were up 4.7% at 0.9683p, have risen 4.7% so far this week.
Reabold's economic interest in West Newton A-2, located in the PEDL 183 licence, is 24%. Union Jack's interest is 17%.
Both companies stressed that interpretation of data from West Newton A-2 operations is still ongoing and further information will follow "in due course".
Reabold said: "The company is aware of market speculation in relation to such interpretations, but it is too early for the [joint venture] partners to be able to confirm their accuracy or not. Work is ongoing and further updates will be made in due course."
By Anna Farley; annafarley@alliancenews.com
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Reabold Resources (RBD)
Union Jack (UJO)