The UK’s largest onshore oil discovery in almost half a century sent shares in a handful of junior explorers gushing, Reabold Resources (LON: RBD) & Union Jack Oil PLC (LON: UJO). On Monday, data from the West Newton A-2 appraisal well, located in East Yorkshire, had indicated the project held around 189 billion cubic feet of gas, equivalent to around 31.3 million barrels of oil.
West Newton “potentially UK’s largest onshore hydrocarbon discovery since 1973”
The discovery is being touted as the largest for an onshore UK project since 1973. Share Talk spoke with David Bramhill, Executive Chairman of Union Jack Oil PLC (LON: UJO), which holds a stake of just over 16% in the West Newton project, said the results had well exceeded their expectations.
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