Last checked at 1 Feb 2021 07:00
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
1 February 2021
Union Jack Oil plc
("Union Jack" or the "Company")
Free Flowing Oil at Wressle Hydrocarbon Development Project
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to provide a positive update on operations at the Wressle oilfield development ("Wressle"). The development is located within North Lincolnshire licences PEDL180 and PEDL182 where the Company holds a 40% economic interest.
Operations to recomplete the well and reperforate the Ashover Grit reservoir interval have been completed successfully, safely and on schedule.
Following the re-perforation and its successful communication with the Ashover Grit reservoir interval, free-flow of oil has commenced and the well has been placed on continuous 24 hour test production. The well is now in the normal clean-up phase as the well is carefully brought on-stream.
The Joint Venture will provide a further detailed update when flow rates have stabilised on completion of clean-up.
Produced oil from Wressle will be transported by road tanker to the Phillips 66 Humber refinery and sold under the Operator's (Egdon Resources plc) existing sales contract.
Recent photographs and video footage of the Wressle operations can be found on Union Jack`s website www.unionjackoil.com.
For further information, please contact:
Union Jack Oil plc Via Cassiopeia Services Ltd
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
Nominated Adviser and Broker
Richard Morrison
Richard Hail
Caroline Rowe
Cassiopeia Services Ltd +44 (0)7949 690 338
Public Relations
Stefania Barbaglio