RE: Times article29 Sep 2022 11:57
And this is all you can read before you have to pay...
London’s oil and gas minnows are riding a wave of success
Dominic O’Connell
Wednesday September 28 2022, 3.00pm, The Times
Union Jack Oil has a share of the Wressle oilfield in rural Lincolnshire being operated by Egdon Resources, a site that has surpassed expectations
Union Jack Oil has a share of the Wressle oilfield in rural Lincolnshire being operated by Egdon Resources, a site that has surpassed expectations
Take a short walk from Andrew’s Hedgehog Hospital, “an approachable rescue and wildlife rehabilitation and release centre” in rural north Lincolnshire, and you might stumble across one of Britain’s most productive onshore oil wells. The Wressle development came on stream in January last year and is proving more of a gusher than expected, cranking out 780 barrels a day rather than the forecast 500.
The flow has helped to put a rocket under the shares of Egdon Resources, the Aim-quoted oil explorer behind the project. Since the start of the year, they have more than quintupled in value, from less than 1½p to a high earlier this month of nearly 9¼p. It is still a relative minnow, with a stock market value of about