West Newton Mobilisation and Test Update

RNS Number : 6408Z

Union Jack Oil PLC

25 May 2021

 

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.

25 May 2021

Union Jack Oil plc

("Union Jack" or the "Company")

West Newton Mobilisation and Test Activities Update PEDL183

Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to provide an update on mobilisation of associated equipment and planned test activities at the West Newton B site.

PEDL183 is located onshore UK, north of the river Humber, also encompassing the town of Beverley, East Yorkshire, covering an area of 176,000 acres.  The licence area is within the western sector of the Southern Zechstein Basin.  The West Newton A-1, A-2 and recent B-1Z discoveries are on-trend with the prolific offshore Hewett gas complex.  Union Jack holds a 16.665% economic interest in the licence area.

Rathlin Energy (UK) Limited, the Operator, has provided the JOA partners with the following guidance.

On Monday 24 May 2021, equipment required to complete and test the West Newton B-1Z well commenced mobilisation to site. This equipment includes a workover rig, well test package, Certified Ultra-low Emission Burners, a wireline unit and other related materials. 

The equipment will be rigged-up during the first week of operations, after which completion activities including perforation and well treatment operations will commence. The well test will follow these operations. Overall, the duration of the West Newton B-1Z completion and testing operations are expected to take approximately six weeks.

All operations are being conducted in accordance with regulatory requirements, permissions, planning conditions and Covid-19 restrictions and guidance.

Initially, site activities including rigging up and completion operations will be conducted during daylight hours (07:00-19:00), however, once well testing operations are underway site activities will move to 24-hours a day, seven days a week.  HGV and delivery traffic will be planned for daytime hours (07:00-19:00), Monday to Saturday and will follow the approved traffic management route. The site will have a manned security presence and wellsite supervision 24-hours a day, seven days a week.

The West Newton B-1Z completion and testing operations are targeting and fully appraising hydrocarbons within the conventional Kirkham Abbey Formation reservoir.

Following the completion of operations on the WN B-1Z well, it is the Operator's intention to mobilise equipment and personnel to the West Newton A site to re-commence testing of the WN A-2 well, also appraising hydrocarbons within the Kirkham Abbey reservoir.

David Bramhill, Executive Chairman of Union Jack, commented: "The planned testing programmes at the West Newton B and A sites are the next milestone events in determining the development potential of West Newton.

"The results to date continue to support the Board's belief that West Newton is a large-scale, conventional onshore hydrocarbon asset with potential offshore-sized reserves and resources in place.

"We look forward to reporting to shareholders the results of this testing campaign in due course."

For further information, please contact:

Union Jack Oil plc    [e-mail]

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

Novus Communications Ltd  [phone] / Twitter:@NovusComms Financial Public Relations

Alan Green/Jacqueline Briscoe

 

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