24 September 2024
Union Jack Oil plc
("Union Jack" or the
"Company")
West Newton Update
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, that its application on behalf
of the Joint Venture partnership for the recompletion of the West
Newton A-2 well has been 'Duly Made'.
Union Jack holds a 16.665% interest in
PEDL183.
Highlights
· The
recompletion is designed to overcome well bore damage that was
sustained during drilling and earlier drilling
operations
· This
is a low-cost means of further derisking the sub-surface element of
the West Newton project and gathering data to input into the design
of a horizontal production well
· The
West Newton domestic gas development opportunity will form part of
the transition to a low-carbon footprint for the UK's energy
sector
For the recompletion of the West Newton A-2
well to proceed, Rathlin is required to obtain consent from the
North Sea Transition Authority and receive a permit from the
Environment Agency.
Union Jack is fully funded for the proposed
recompletion.
The full text of Rathlin's announcement can be
found on its website: https://www.rathlin-energy.co.uk/latest-update/
For further
information, please contact:
Union Jack Oil
plc
info@unionjackoil.com
David Bramhill
SP Angel
Corporate Finance
LLP
+44 (0)20 3470 0470
Nominated
Adviser and Joint Broker
Matthew Johnson
Richard Hail
Caroline Rowe
Shore
Capital +44
(0)20 7408 4090
Joint
Broker
Toby Gibbs
Harry Davies-Ball
Gneiss Energy
Limited
+ 44 (0)20
3983 9263
Financial
Adviser
Jon Fitzpatrick
Paul Weidman
Harbour
Access
+1 (475)
477 9402
USA Investor
Relations
Jonathan Paterson
