Hydrocarbon Portfolio Update

RNS Number : 6716U

Union Jack Oil PLC

20 October 2014

 

Union Jack Oil plc

(AIM: UJO)

Hydrocarbon Portfolio Update

Union Jack Oil plc ("Union Jack" or "the Company"), an onshore oil and gas exploration company with a focus on drilling and development opportunities in the United Kingdom hydrocarbon sector, notes that Egdon Resources plc ("Egdon") has released an RNS containing the following information on Union Jack's interests which include Wressle, Burton on the Wolds, Biscathorpe and North Kelsey:

"Additional detailed work has now confirmed the preliminary evaluation of the Wressle-1 well results, which were announced on 2 September 2014 and which indicated potential hydrocarbon bearing zones in three separate reservoir intervals.  We are currently finalising the design and logistics for the testing programme and expect to commence testing using a work-over rig during November 2014 following the drilling of the Burton on the Wolds-1 conventional exploration well where operations have now begun."

"The next six months will be busy for Egdon, with a new operated drilling campaign expected to commence early in 2015.  This programme is expected, subject in part to planning consent, to comprise three operated onshore exploration wells for conventional hydrocarbons at Laughton, North Kelsey and Biscathorpe. In addition operations at the non-operated Kiln Lane well could start before year end."

For further information please contact the following:

Union Jack Oil plc

David Bramhill                                                             [phone]

Shore Capital

Nominated Adviser                                                      [phone]

Bidhi Bhoma, Edward Mansfield

Corporate Broking

Jerry Keen

Northland Capital                                                      [phone]

Joint Broker

Gavin Burnell, Alice Lane

Yellow Jersey PR Limited

Public Relations

Dominic Barretto                                                          [phone]

Kelsey Traynor                                                            [phone]

 

END

 

 

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