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Union Jack Oil plc

INTERVIEW: Union Jack Oil – West Newton could be transformational for the company

Union Jack Oil (LON:UJO) Executive Chairman, David Bramhill joins DirectorsTalk to discuss the West Newton A-2 appraisal well. David talks us through the highlights, explains what is to come over the next few months and what this means for the company.

The West Newton A-2 well was spudded on 26 April 2019 and on 9 June 2019 reached a total depth (TD) of 2061 metres. 28 metres of core has been successfully extracted from the primary target, the Kirkham Abbey formation and all planned logging operations have been completed.

A net 65 metre hydrocarbon saturated interval has been encountered from within the Kirkham Abbey formation indicating a substantial hydrocarbon accumulation, including a significant liquids component.

Drilling operations have now concluded, and production casing has been run in preparation for testing of this extended interval, for which planning consent has been received. The proposed extended well test will establish flow rates and will help determine the future drilling and development programme at the West Newton project. Testing is expected to commence in Q3 2019.

The initial petrophysical data obtained from the West Newton A-2 well correlates positively with the results from the West Newton A-1 conventional discovery well. Prior to the drilling of the West Newton A-2 well, a Competent Person`s Report compiled by Deloitte, had a Best Estimate Contingent Resource of 189 Bcf of gas equivalent. Volume expectations will initially be updated following further core and log analysis, then again following the extended well test.

The well also encountered hydrocarbon shows within the deeper Cadeby formation, a secondary target. The intersection is consistent with the West Newton A-1 well from which an oil saturated core was recovered. This is highly encouraging, and the formation is planned to be intersected in the future from the West Newton-B well location, where optimal reservoir development is expected, and planning permission is already in place.