Last checked at 21 Jul 2021 07:00
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is Disclosed in accordance with the Company`s obligations under Article 17 of MAR.
21 July 2021
Union Jack Oil plc
("Union Jack" or the "Company")
West Newton B-1Z Update
Union Jack Oil plc (AIM:UJO), a UK focused onshore hydrocarbon production, development and exploration company, is pleased to publish an update in respect of the ongoing testing of the West Newton B-1Z well.
The Company holds a 16.665% economic interest in PEDL183, encompassing an area of 176,000 acres and located within the Western Sector of the Southern Permian Basin, onshore UK, North of the river Humber. PEDL183 contains the WNA-1, WNA-2 and WN B-1Z hydrocarbon discoveries.
Highlights:
· Perforated an initial interval of 25 metres of the 62 metre Kirkham Abbey hydrocarbon column
· Well testing operations began on 7 June 2021, with an initial focus on the lower portion of the Kirkham Abbey
· Scale of completion fluid inflow into the formation indicative of permeability in the system
· Gas is being recovered to surface under test conditions
· Gas analyses exhibit a strong similarity to analyses obtained from the West Newton A site wells with samples showing approximately 90% methane content and no native H2S (hydrogen sulphide)
· Liquids recovered to surface are currently undergoing analysis
· Additional 19 metre zone in the upper Kirkham Abbey identified for perforation and flow testing
· Operations continuing on the clean-up of the lower portion of the Kirkham Abbey and further flow testing of the Kirkham Abbey formation
David Bramhill, Executive Chairman of Union Jack commented:
"We are encouraged by the indications of permeability of the lower portion of the Kirkham Abbey under test, and the initial recovery of hydrocarbons to surface.
"We are continuing with test operations in this zone which, along with the planned testing of additional zones, and the A-2 well, the results of which will be key data inputs into the ultimate development plans of PEDL183."
Competent Person's Statement
In accordance with the "AIM Rules - Note for Mining and Oil and Gas Companies," the information contained within this announcement has been reviewed and signed off by Graham Bull, Non-Executive Director, who has over 52 years of international oil and gas industry experience.
For further information, please contact:
Union Jack Oil plc Info@unionjackoil.com
David Bramhill
SP Angel Corporate Finance LLP +44 (0)20 3470 0470
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