RE: Wressle29 Mar 2022 08:51
From UJO RNS this morning.
Over the course of the initial preparation of the CPR, particularly given the receipt of further positive information in respect of down hole pressures and the continued elevated production figures from Wressle-1, the decision was made to expand the scope of work from a CPR to a wider Reserves and Resources Report prepared in accordance with the Petroleum Resources Management System ("PRMS"), a standard developed by the Society of Petroleum Engineers.
The additional reporting in the expanded scope of work for the Gaffney Cline report will incorporate:
-- 1P/2P/3P reserve values for the Ashover Grit and Wingfield Flags reservoirs
-- Highlight and discuss any additional potential reservoirs
-- Generation of an indicative 2C profile for the *****tone Flags reservoir
-- Preparation of a 2P+2C profile illustrating future field potential
Executive Chairman of Union Jack, David Bramhill commented: "Wressle continues to outperform over and above original prognosis and expectations.
"We are confident that the expanded Gaffney Cline report will assist in highlighting the true upside potential of this economically attractive conventional hydrocarbon development.