Union Jack Oil Receives EA Permit; Instrumental in the Optimisation of Oil Production Rates

Union Jack Oil plc

Union Jack Oil plc (LON:UJO), a UK focused onshore hydrocarbon production, development and exploration company, has provided an update in respect of the UK onshore Wressle-1 well.

  • Environment Agency (“EA”) approval has been received that allows higher volumes of fluid to be handled at surface and at nearby water disposal facilities, since 14 December 2023
  • Prior to EA approval, production was constrained to delivering an average of 550 barrels of oil per day (“bopd”)
  • From 14 December 2023, the surface pump rate has been incrementally increased, resulting in a material uplift in oil production rates, with a gross average rate of 670 bopd since then, and 674 bopd recorded on 17 December 2023, over a 24 hour period
  • Jet pump is capable of handling up to 1,440 barrels of fluid per day
  • Notwithstanding the increasing oil production trend, production rates will be carefully monitored, whilst the flow rate is gradually increased over the coming weeks to determine the optimum oil flow rate as the well stabilises
  • Site upgrades are ongoing
  • Updated Wressle Competent Person’s Report (“CPR”) will be published during January 2024

Union Jack holds a 40% economic interest in PEDL180 and PEDL182.

David Bramhill, Executive Chairman of Union Jack Oil, commented:

“The issue of the EA permit is welcome news and is instrumental in the optimisation of oil production rates at Wressle.

“I believe that the installation of the jet pump and additional surface facilities at Wressle provide significant scope for a material upgrade in oil and gas production, further supporting the Company’s strong balance sheet for many years to come.

“I look forward to updating shareholders and the market with the updated Wressle CPR in January 2024 and on future oil production rates in due course.”

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