26 May 2021 | 09:24am
StockMarketWire.com - Oil company Union Jack Oil welcomed news that North Lincolnshire Council had approved the storage of crude oil at the Wressle project.
Union Jack held a 40% economic interest in the development, which was operated by Egdon Resources.
The grant of consent allowed full use of the installed oil storage capacity at site of about 2,000 barrels.
Union Jack said it would enable full production from the Wressle-1 well following a proppant squeeze expected to increase production to a constrained 500 barrels of oil per day.
At 9:24am: [LON:UJO] Union Jack Oil Plc share price was 0p at 0.15p
1 March 2021 | 09:47am
StockMarketWire.com - Oil company Union Jack Oil said it had completed its planned acquisition of a further 15% economic interest in the Biscathorpe project.
The deal was completed on terms originally announced on 18 January, with Union Jack now holding a 45% interest in the PEDL253 licence.
At 9:47am: [LON:UJO] Union Jack Oil Plc share price was 0p at 0.15p
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18 January 2021 | 07:28am
StockMarketWire.com - Oil company Union Jack Oil said it had agreed to acquire a further 15% economic interest in a UK permit containing the Biscathorpe project from Humber Oil & Gas.
The deal would see Union Jack Oil up its holding in PEDL253 to 45%.
The company had offered £0.5 million cash, to be paid on Oil and Gas Authority approval and, following receipt of various planning approvals, a contingent payment of £0.5 million.
PEDL253 was located within the proven hydrocarbon fairway of the Humber Basin, on-trend with the Keddington oilfield, which produces oil from a Carboniferous Westphalian aged reservoir.
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