Positive Decision for EWT at West Newton

RNS Number : 8793K

Union Jack Oil PLC

27 April 2020

 

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

27 April 2020

Union Jack Oil plc

("Union Jack" or the "Company")

  Positive Decision for Extended Well Test at West Newton

Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that a positive decision document in respect of the testing of the West Newton A-2 well ("WNA-2") on PEDL183, has been received from the Environment Agency ("EA") by Rathlin Energy (UK) Limited ("Rathlin" or the "Operator").

PEDL183 is located onshore, north of the river Humber in East Yorkshire.  The licence is within the Western sector of the Southern Zechstein Basin.  Union Jack holds a 16.665% interest in this licence which includes the West Newton A-1 and A-2 hydrocarbon discoveries.  

Rathlin, Operator of PEDL183, on 24 April 2020, received a decision document from the EA, granting a variation to the permit for the West Newton A site and associated WNA-2 testing operations.

This variation will allow Rathlin to use mechanical methods (pumpjack/nodding donkey) for lifting wellbore fluids and for the utilisation of a smaller incineration unit during the testing of the WNA-2 well.

During drilling and early testing operations of the WNA-2 well, additional information was gathered that improved the understanding of the targeted Kirkham Abbey reservoir leading to the identification of a potential oil leg overlain by an associated gas cap within the reservoir interval.

Testing operations at West Newton will recommence once government guidance pertaining to  COVID-19 permits, the required personnel and equipment become available, and the health and continued safety of Rathlin employees, contract personnel and the community can be ensured.

Executive Chairman of Union Jack, David Bramhill, commented: "We now have all key permits in place which allow the testing of the West Newton A-2 well.

"We are also seeing excellent progress with regards initial works at the West Newton B site.

"Combined with the ongoing Wressle development project where "first oil" is anticipated in H2 2020, Union Jack is in an excellent position from both a corporate and financial situation, where we are fully funded for our drilling and development commitments during 2020".

For further information, please contact:

Union Jack Oil plc  [phone]

David Bramhill

SP Angel Corporate Finance LLP  [phone]

Nominated Adviser and Broker

Richard Morrison

Richard Hail

Caroline Rowe

Cassiopeia Services Ltd  [phone]

Public Relations

Stefania Barbaglio

 

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