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On 8 November 2023, Union Jack Oil plc announced the resumption of production at its Wressle-1 well following the installation of a downhole jet pump and associated surface facilities. Flow-rates in excess of 950 barrels of oil per day have been recorded, and export and sale of oil have recommenced from the well, in which Union Jack holds a 40% economic interest.
| Date | 8 Nov 2023 |
| Time | 07:00:10 |
| Category | Corporate updates |
| ID | 7093S |
8 November 2023
Union Jack Oil plc
("Union Jack" or the "Company")
Production Resumed at Wressle PEDL180/PEDL182
Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that the Wressle-1 well has been brought back into production following the installation of a downhole jet pump and associated surface facilities to optimise flow-rates.
Since production resumed, flow-rates in excess of 950 barrels of oil per day have been recorded. The well is now on continuous 24-hour production and is still cleaning up. Export and sale of oil has recommenced.
Once stabilised production is achieved a further announcement will be made.
Union Jack holds a 40% economic interest in PEDL180 and PEDL182.
For further information, please contact:
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Union Jack Oil plc David Bramhill |
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SP Angel Corporate Finance LLP Nominated Adviser and Joint Broker Matthew Johnson Richard Hail Kasia Brzozowska |
+44 (0)20 3470 0470 |
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Shore Capital Stockbrokers Limited Joint Broker Toby Gibbs Iain Sexton |
+44 (0)20 7408 4090 |