Union Jack Oil plc (LON:UJO) (OTCQB: UJOGF), a UK and USA focused onshore hydrocarbon production, development, exploration and investment company, has announced its audited results for the year ended 31 December 2023.
Operational Highlights
• Flagship Wressle project continues to deliver following a workover, installation of a down hole pump and other significant site upgrades
• Wressle Competent Person’s Report upgrades Reserves by 263%
• Application submitted for the drilling of two back-to-back Wressle development wells and the Penistone Flags gas monetisation
• Positive Biscathorpe planning appeal decision
• Sale of 2.5% interest in offshore North Sea Claymore Area Royalty
• Commencement of acquisition of United States Mineral Royalties and drilling activity in Oklahoma
• Planned drilling and development during 2024 to encompass both sides of the Atlantic
• Post Balance Sheet date, the Andrews 1-17 Well, in Oklahoma, USA, has been declared a commercial discovery