Union Jack Oil Environment Agency issued variation of permit for West Newton B

Union Jack Oil plc

Union Jack Oil plc (LON: UJO) a UK focused onshore hydrocarbon production, development and exploration company has provided an update on West Newton PEDL183, in which the Company holds a 16.665% economic interest.

Union Jack Oil has been informed that the Environment Agency has issued the variation of the permit for the West Newton B wellsite, which allows for the use of oil-based fluids within the Permian formations during drilling and testing operations.

Independent technical studies have clearly demonstrated that the use of oil-based drilling fluids will be a key factor in enhancing flow rates from wells drilled in the West Newton field.

Plans for the proposed horizontal well from the West Newton B site are underway and commencement of operations is targeted for H1 2024.

Well path selection and the engineered design have been completed, wellbore casing has been purchased and the Operator, Rathlin Energy (UK) Limited, has approached drilling rig and other key service contractors to determine their availability.

As announced on 29 September 2022, the Competent Person’s Report on West Newton indicated gross 2C unrisked technically recoverable resources of 197.6 bcf of sales gas, with an estimated 85.5% geological chance of success.

Union Jack Oil is fully funded for the drilling and testing of the horizontal well.

David Bramhill, Executive Chairman of Union Jack commented: “A future West Newton development will benefit from being located in an area that provides access to substantial regional infrastructure and could deliver significant volumes of on-shore low-carbon sales gas into the UK’s energy market.

“Domestically produced natural gas will remain a much-needed part of the energy mix, as the UK seeks to reduce its reliance on imported products.

“Union Jack looks forward to the drilling of a 1,500 metre horizontal well and unlocking the significant potential of the West Newton project.”

We’ll keep you in the loop!

Join 1,000's of investors who read our articles first

We don’t spam! Read our privacy policy for more info.

Share on:
Find more news, interviews, share price & company profile here for:

Union Jack Oil delivers strong operational progress in H1 2025

Union Jack Oil reported revenues of £1.29m and a net loss of £489k for the six months to 30 June 2025, reflecting lower oil prices. The Company remains debt-free with net assets of £21.4m, supported by an 18% return from its mineral royalties portfolio.

Union Jack Oil updates on Sark well in Oklahoma

Union Jack Oil has provided an update on the Sark well in Central Oklahoma, where it holds a 60% interest. The well was drilled to 5,391 feet, with the Prue interval identified as hydrocarbon bearing.

Union Jack Oil confirms spudding of Sark well in Oklahoma

Union Jack Oil has confirmed that the Sark well in Central Oklahoma has been spudded, with the company holding a 60% interest. The well is operated by Reach Oil and Gas Inc., and follows the recent success of the producing Moccasin well.

Union Jack Oil director increases shareholding

Union Jack Oil Non-Executive Director Craig Howie has acquired 122,000 shares at 5.075 pence each, raising his total holding to 3,377,000 shares, representing 2.21% of the company’s issued share capital.

Union Jack Oil explores Bitcoin mining to monetise West Newton gas

Union Jack Oil has announced early-stage plans to monetise gas from its West Newton discovery by powering on-site Bitcoin mining operations. A non-binding LOI has been signed with Texas-based 360 Energy to develop a gas-to-crypto solution, aiming to generate near-term revenue while full field development progresses.

Union Jack Oil calls General Meeting to approve fundraising warrants

Union Jack Oil has scheduled a General Meeting for 26 August 2025 to seek shareholder approval for the issue of warrants linked to its recent fundraising. The meeting will be held at The Bristol Hotel, with full details available on the company’s website.

Search

Search