Union Jack Oil Wressle Development Update

Union Jack Oil plc (LON:UJO), a UK focused onshore hydrocarbon production, development and exploration company has announced that the Operator, Egdon Resources U.K. Limited, has provided an update on progress to first oil at the Wressle hydrocarbon development site.

Wressle is located within North Lincolnshire licences PEDL180 and PEDL182.

Union Jack Oil holds a 40% economic interest in these licences.

The workover rig and associated services and equipment were successfully mobilised to Wressle during the week commencing 4 January 2021 and that operations to recomplete and reperforate the well have commenced.

Operations are expected to be completed to enable the Ashover Grit reservoir to be flowed prior to the end of January 2021 as previously advised.

The Ashover Grit reservoir is expected to produce 500 barrels of oil per day at a constrained rate, increasing Union Jack`s net production by an additional 200 bopd when fully on stream.

Recent photographs and video footage of Wressle can be found on the Company`s website, unionjackoil.com.

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Written by: Giles

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