Union Jack reaches ‘landmark’ $9m net revenue from Wressle

Union Jack Oil announced on Friday (26th) that “material landmark” net revenues of $9m have been achieved from the Wressle development, on licences PEDL180 and PEDL182 in North Lincolnshire, on the western margin of the Humber Basin.

The AIM-traded firm holds a 40% economic interest in the development, adding that the $9m net to Union Jack was achieved since the restart of production on 19 August last year.

It said the well was continuing to produce under natural flow, with zero water cut.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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