Union Jack Oil plc (AIM: UJO, OTCQB: UJOGF), a UK and USA focused onshore hydrocarbon, production, development, exploration and investment company notes today’s announcement from Rathlin Energy U.K. Limited (“Rathlin”) regarding the West Newton gas development project, located within PEDL183, onshore UK in East Yorkshire.
Rathlin, operator of the licence, has been informed by the Environment Agency (“EA”) that it has issued Rathlin the variation to the permit for the West Newton ‘A’ Well Site to include a reservoir stimulation in the WNA-2 well, subject to certain pre-operational conditions. The recompletion works are designed to overcome well bore damage that was sustained during earlier drilling operations.
The Company believes that the planned recompletion of the WNA-2 well is a low-cost and low risk means of further derisking the sub-surface element of the West Newton project and gathering data to optimise future production wells.
This key regulatory milestone clears a major hurdle in the path toward development and eventual production at West Newton, strengthening Rathlin’s, and consequently Union Jack’s, ability to advance its UK onshore assets within a responsible environmental and social governance framework.
The Company is confident that West Newton will prove to be an important strategic asset to the UK as the country looks to secure domestic energy supply and affordable energy.
Union Jack holds a 16.665% interest in PEDL183.
Rathlin’s full announcement can be viewed here: https://www.rathlin-energy.co.uk/latest-update/
For further information, please contact:
Union Jack Oil plc info@unionjackoil.com
David Bramhill
