Tue, 28th Sep 2021 07:00
28 September 2021
Union Jack Oil plc
("Union Jack" or the "Company")
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that a new Corporate Presentation ("Presentation") has been published on the Company's website at: www.unionjackoil.com. The Presentation incorporates cutting-edge videos, design and graphics to enhance the descriptions of our key projects.
The Presentation focuses principally on the Company's key projects at Wressle, West Newton and Biscathorpe while also progressing its other existing production project at Keddington:
· Wressle oil production (40%): Achieved production rates from the Ashover Grit reservoir of 884 barrels of oil per day ("bopd") gross and where we plan to upgrade the oil production facilities and progress a gas to power revenue stream. The Wressle oilfield is set to become the second ranked onshore oilfield in the UK next to Wytch Farm.
· West Newton appraisal (16.665%): Testing now underway at West Newton-A2 well, where a 65 metre hydrocarbon column was previously discovered.
· Biscathorpe appraisal (45%): Drilling of a side-track well is planned in 2022 and where the Company believes Biscathorpe to be one of the UK's largest onshore un-appraised conventional hydrocarbon targets.
· Keddington Oilfield (55%): Drilling of a relatively inexpensive side-track development well from the existing production site to target incremental oil production could be drilled in 2022. Planning approval in place for the drilling of a further two wells.
The Board of Union Jack has created the Presentation with the objective of improving shareholders' and viewers' understanding of our key projects and in doing so it hopes they obtain a fuller appreciation of them, and the Company. We trust the Presentation will have a positive impact and will convert viewers into new shareholders, if not already.
The Company would like to thank Begley Hutton Design and John Perez Graphics for their contribution to the Presentation.
For further information, please contact
Union Jack Oil plc
SP Angel Corporate Finance LLP
+44 (0)20 3470 0470
Nominated Adviser and Broker
Novus Communications Ltd
+44 (0)20 7448 9839
Financial Public Relations
Alan Green/Jacqueline Briscoe