WEST NEWTON OPERATIONS UPDATE
The flow testing of the WNA-2 well commenced earlier today.
The well test programme is scheduled to continue for the next 4-8 weeks.
The necessary regulatory permissions and consents are in place for this test.
Additional information regarding the test programme will be made available once the relevant data has been collected and analysed.
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company. Union Jack holds a 16.665% interest in this licence containing the West Newton A-1 discovery well and the recently successful West Newton A-2 conventional appraisal well.
Reabold Resources, the AIM-listed investing company which focusses on investments in pre-cash flow upstream oil and gas projects, is pleased to announce that it has increased its investment in Rathlin Energy (UK) Limited (“Rathlin”), the operator of the West Newton field, through participation in an advanced subscription agreement. Reabold currently holds a 24 per cent. economic interest in West Newton via its 36 per cent. holding in Rathlin and its ultimate economic interest will be confirmed once the next fundraising round is complete.
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