The resources of a major onshore oil find have been upgraded, with analysts saying it could become the “largest” of its kind in the UK.
Union Jack Oil
Bath-headquartered firm Union Jack Oil has announced a "major" oil discovery at its onshore West Newton appraisal well.
Union Jack Oil has clinched a deal to buy 16.7% of an onshore discovery in Yorkshire containing 31.5 million barrels of oil equivalent.
Egdon Resources has bought an additional 5% interest in the licences containing the Wressle oil discovery and the Broughton North prospect.
Egdon Resources has struck a deal to sell a 20% stake in the producing Fiskerton Airfield oil field in Lincolnshire for £137,000.
Union Jack Oil today confirmed its takeover of Nautical Petroleum's onshore portfolio.
Union Jack Oil today confirmed it was fully funded and debt-free as it pursues its latest onshore campaign.
Union Jack Oil said it has acquired a further 8.33% economic interest in an onshore asset in Lincolnshire.
Europa Oil and Gas and Union Jack Oil have joined other oil juniors on the PEDL143 licence in southern England, which hosts the Holmwood prospect, after signing a deal to acquire a stake in the project by partly funding future work programmes.
Union Jack Oil has struck a deal with Europa Oil & Gas for interests in the Holmwood Prospect located Weald Basin in southern England.
Union Jack Oil the onshore exploration and production company with a focus on drilling, said it remained on track for commercial production from its Wressle discovery in Lincolnshire in the second half of the year and intends to expand its interests in other areas of the UK.
Egdon Resources has completed its drilling operations at the Laughton-1 conventional exploration well in Lincolnshire with little hydrocarbons to show for it.
Union Jack Oil has entered into an agreement with Egdon Resources to farm-in to the conventional prospects of PEDL209 containing the Laughton Prospect. The company said under the terms of the agreement, it will pay 16.67% of the costs of the Laughton-1 well.
Union Jack Oil has commenced the drilling operations for its onshore Keddington-5 development well.
Union Jack Oil has raised £800,000 through a placing of 470,588,235 new ordinary shares at 0.17p.
Union Jack Oil confirmed it was perfectly poised to capitalise on current market ‘dislocaton’
Union Jack Oil has completed its acquisition of a 10% stake in the Keddington oil field, onshore UK.