---
title: "Union Jack Oil PLC (AIM:UJO) US$7 Million Net Revenues Reached at Wressle"
publisher: "Share Talk"
author: "sharetalk"
published: "2022-06-20T06:34:01+00:00"
modified: "2022-06-20T06:34:01+00:00"
date: 2022-06-20
canonical: "https://www.share-talk.com/union-jack-oil-plc-aimujo-us7-million-net-revenues-reached-at-wressle/"
category: "Energy"
categories: ["Energy"]
tags: ["3D seismic data", "Biscathorpe", "Biscathorpe-2", "Claymore", "David Bramhill", "development", "EDR", "Egdon Resources", "Egdon Resources U.K", "EOG", "Europa Oil & Gas", "Fiskerton Airfield", "gas", "Graham Bull", "Humber Basin", "Humber Oil & Gas Limited", "HYDROCARBON", "Keddington", "North Sea", "oil", "oilfield", "onshore", "onshore hydrocarbon", "PEDL253 licence", "Piper", "production", "Scapa", "Share Talk", "side-track", "South Humber Basin", "UJO", "UKOOG", "Union Jack Oil", "Union Jack Oil plc", "Weald Basin", "West Newton", "West Newton A-2", "Wressle", "Wressle-1"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Union Jack Oil PLC (AIM:UJO) US$7 Million Net Revenues Reached at Wressle

**Published:** June 20, 2022
**Author:** sharetalk
**Categories:** Energy
**Tags:** 3D seismic data, Biscathorpe, Biscathorpe-2, Claymore, David Bramhill, development, EDR, Egdon Resources, Egdon Resources U.K, EOG, Europa Oil & Gas, Fiskerton Airfield, gas, Graham Bull, Humber Basin, Humber Oil & Gas Limited, HYDROCARBON, Keddington, North Sea, oil, oilfield, onshore, onshore hydrocarbon, PEDL253 licence, Piper, production, Scapa, Share Talk, side-track, South Humber Basin, UJO, UKOOG, Union Jack Oil, Union Jack Oil plc, Weald Basin, West Newton, West Newton A-2, Wressle, Wressle-1
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1)

---

**US$7,000,000 Net Revenues Landmark Reached at Wressle**

**Union Jack Oil plc (AIM: UJO)** a UK focused onshore hydrocarbon production, development and exploration company, is pleased to announce that material landmark net revenues of US$7,000,000 have been achieved from the Wressle hydrocarbon development (“Wressle”), located within licences PEDL180 and PEDL182 in North Lincolnshire on the western margin of the Humber Basin.

Union Jack holds a 40% economic interest in this development.

**Highlights**

· Landmark US$7,000,000 revenues generated to Union Jack since re-commencement of production on 19 August 2021

· Current daily production figures continue to be an average constrained flow-rate of 750 barrels of oil per day (“bopd”), well in-excess of the prognosed 500 bopd from the Ashover Grit reservoir

· Well continues to produce under natural flow with zero water cut

· Union Jack continues to be cash flow positive covering all G&A, OPEX and contracted or planned CAPEX costs, including any budgeted drilling activities for at least the next 12 months

· At 20 June 2022, cash balances and short term receivables stood at in-excess of £8,400,000

· Union Jack expects to report a maiden profit for the forthcoming unaudited half year results ending 30 June 2022

· Debt free

**Executive Chairman of Union Jack, David Bramhill, commented:** ” The ongoing excellent operational and financial performance at Wressle continues to bolster the Company’s cash position, balance sheet and income statement.

“Net revenues from Wressle have now exceeded US$7,000,000 and, as a result of this exceptional performance, plus revenue contributions from the Keddington oilfield, the Fiskerton Airfield oilfield and North Sea Royalties

“The Board now expects to report a maiden profit in the forthcoming unaudited half year results ending 30 June 2022”.

**For further information, please contact**

Union Jack Oil plc [info@unionjackoil.com](mailto:info@unionjackoil.com)

**David Bramhill**

---

**Original URL:** https://www.share-talk.com/union-jack-oil-plc-aimujo-us7-million-net-revenues-reached-at-wressle/
*Created by [WP Markdown Endpoint](https://wpmarkdownendpoint.com/)*