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West Newton Technical Update and Presentation

28 Jan 2021 07:00

RNS Number : 1201N
Union Jack Oil PLC
28 January 2021
 

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

 

 

28 January 2021

Union Jack Oil plc

("Union Jack" or the "Company")

West Newton Technical Update and Presentation

 

Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that a technical presentation in respect of the recently drilled West Newton B-1 and B-1Z appraisal wells is now available on the Company`s website www.unionjackoil.com.

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 Zechstein Basin, onshore UK, North of the river Humber. PEDL183 contains the conventional West Newton A-1, A-2 and B-1Z discoveries.

The West Newton technical presentation contains new significant technical data that is material to the ongoing commercial evaluation of the project. The presentation identifies or contains the following new information:

· Locations for the West Newton A-1, A-2, B-1, B-1Z and a proposed B-2 well, which has planning permission in place and is provisionally planned to be drilled in H2 2021, and a demonstration of where the B-1Z well represented a considerable 2.5 kilometre step-out to the south of the A-2 well

· Good seismic calibration across the West Newton project area, highlighting both the Kirkham Abbey "platform" and "slope" formations

- Demonstrated hydrocarbon column of at least 118 metres with no hydrocarbon-water contact

- Thick porous section identified in both A-2 and B-1Z wells suggesting a contiguous structure across the Kirkham Abbey formation

- B-1Z well de-risks the southern component of the West Newton licence area and crucially supports the accuracy of the seismic interpretation across the entire platform

· Log results at B-1Z well were excellent, exceeding Union Jack`s pre-drill expectations

- Good porosity throughout the interval

- Kirkham Abbey interval hydrocarbon saturated

- Mudgas concentrations observed while drilling through the Kirkham Abbey formation at B-1Z well were as high as 9.8% total gas

· 18 metres of core cut and recovered from the B-1Z well

- Visible natural fracturing, micro fracturing and vuggy porosity demonstrated from core-lab inspection and analysis

· Numerous additional leads and prospects, including Ellerby and Spring Hill, identified across PEDL183

 

David Bramhill, Executive Chairman of Union Jack commented: "Following the drilling of the successful B-1Z appraisal well, the technical summary of the West Newton project, provided on the Union Jack website, is the result of extensive evaluation by technical teams at Rathlin Energy, Reabold Resources and Union Jack, all whom have contributed additional materiality to our technical understanding of West Newton.

"There remains considerable upside in the opinion of Union Jack`s management especially with the Ellerby and Spring Hill Prospects being on-trend with West Newton.

"We look forward to reporting further progress on this compelling onshore conventional project in due course."

 

Competent Person`s Statement

In accordance with the "AIM Rules - Note for Mining and Oil and Gas Companies," the technical information contained within this announcement has been reviewed and approved by Graham Bull, Non-Executive Director. He is a member of the Petroleum Exploration Society of Great Britain, the American Association of Petroleum Geologists and a Fellow of the Geological Society of London and has over 46 years of international oil and gas industry experience.

 

 

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

 

 

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UPDSEUFWWEFSEEF
Date   Source Headline
29th Apr 20197:00 amRNSWressle Planning Appeal Update
26th Apr 20197:00 amRNSCommencement of Drilling Operations at West Newton
16th Apr 20197:00 amRNSHolmwood Update
8th Apr 201911:25 amRNSResult of General Meeting and Total Voting Rights
20th Mar 20197:00 amRNSFundraising, Circular & Notice of General Meeting
14th Mar 20197:00 amRNSHolmwood Update
22nd Feb 201910:04 amRNSTR-1: Notification of Major Interest in Shares
20th Feb 20193:45 pmRNSBiscathorpe Update
5th Feb 20197:00 amRNSWressle Planning Update
25th Jan 20197:00 amRNSWressle Planning Extension Update
8th Jan 20199:50 amRNSTR-1: Notification of Major Interest in Shares
7th Jan 20191:30 pmRNSBiscathorpe Drilling Update
7th Dec 201811:52 amRNSTR-1: Notification of Major Interest in Shares
6th Dec 201811:30 amRNSBiscathorpe Drilling Update
5th Dec 201810:05 amRNSTR-1: Notification of Major Interest in Shares
4th Dec 201810:43 amRNSTR-1: Notification of Major Interest in Shares
4th Dec 20187:00 amRNSDirectorate Change and Grant of Options
3rd Dec 20187:00 amRNSCompletion of West Newton Farm-In
28th Nov 20184:15 pmRNSWressle Planning Decision
22nd Nov 20187:00 amRNSWressle Update
20th Nov 20187:00 amRNSDirector/PDMR Shareholding
15th Nov 20183:46 pmRNSWest Newton-A Wellsite Planning Update
7th Nov 20187:00 amRNSGrant of Options
5th Nov 20187:00 amRNSWest Newton Farm-in Agreement Signed
31st Oct 201811:00 amRNSPrice Monitoring Extension
31st Oct 20187:00 amRNSTotal Voting Rights
30th Oct 20187:00 amRNSBiscathorpe, Wressle and North Kelsey References
9th Oct 20187:00 amRNSTR-1: Notification of Major Interest in Shares
3rd Oct 20187:01 amRNSDirectors' Dealing
3rd Oct 20187:00 amRNSProposed Farm-in and Fundraising
18th Sep 20187:00 amRNSHalf Year Report
4th Sep 20187:00 amRNSHolmwood Update
29th Aug 20189:00 amRNSBiscathorpe Drilling Timetable and Update
14th Aug 20189:53 amRNSTR-1: Notification of Major Interest in Shares
1st Aug 20184:00 pmRNSWressle Planning Extension Update
24th Jul 20187:00 amRNSHolmwood Planning Update
18th Jul 20187:00 amRNSGrant of Options
5th Jul 20182:30 pmRNSSubmission of New Wressle Planning Application
4th Jun 20187:00 amRNSAcquisition of Additional Interest in Wressle
31st May 201811:47 amRNSResult of AGM
18th May 20187:00 amRNSAcknowledgement of Written Ministerial Statement
15th May 20187:00 amRNSWidmerpool Gulf and Humber Basin Acquisition
14th May 20181:05 pmRNSBiscathorpe and North Kelsey Planning Update
14th May 201811:00 amRNSPrice Monitoring Extension
14th May 20189:00 amRNSPrice Monitoring Extension
3rd May 20187:00 amRNSTR-1: Notification of Major Interest in Shares
1st May 20187:00 amRNSFinal Results for the Year Ended 31 December 2017
17th Apr 20187:00 amRNSFiskerton and Wressle Update
16th Apr 20187:25 amRNSUnion Jack Oil plc to Attend UK Investor Show
9th Apr 20182:43 pmRNSNorth Kelsey Planning Update

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