$6M Net Revenues Landmark Reached at Wressle Production Development

Source: www.gulfoilandgas.com 5/23/2022, Location: Europe

Union Jack Oil, a UK focused onshore hydrocarbon production, development and exploration company, has announced that material landmark net revenues of US$6 million have been achieved from the Wressle hydrocarbon development, located within licences PEDL180 and PEDL182 in North Lincolnshire on the western margin of the Humber Basin.

Union Jack holds a 40% economic interest in this producing hydrocarbon development.

Highlights

- Landmark US$6 million revenues generated to Union Jack since re-commencement of production during August 2021

- Well continues to produce under natural flow with zero water cut

- Site upgrades ongoing

- As at 23 May 2022, the Company’s cash balances and short term receivables stand at in-excess of £7.7 million

- The Company is covered for all G&A, OPEX and contracted or planned CAPEX costs, including any budgeted drilling activities for at least the next 12 months

- Debt free

Executive Chairman of Union Jack, David Bramhill commented:

'Another period of stellar performance from the Wressle-1 development has been achieved. Union Jack is now on a material growth trajectory which augers well for the future of the Company and its shareholders.'


Bermuda >>  6/24/2022 - American Overseas Group Limited announced that its subsidiary, American Overseas Reinsurance Company Limited (“AORE”), completed a private repurchase ...
Canada >>  6/24/2022 - Trillion Energy International Inc. is pleased to announce that, further to its press releases dated June 3 and 7, 2022, it has filed its final short f...

Greece >>  6/24/2022 - Imperial Petroleum Inc. has received written notification from The Nasdaq Stock Market (“Nasdaq”) dated June 17, 2022, indicating that because the clo...
Monaco >>  6/24/2022 - Eneti Inc. announced that Scorpio Holdings Limited (“SHL”), a related party, has purchased 258,369 common shares of the Company at an average price of...

Nigeria >>  6/24/2022 - San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, provides the following update in relation to...
Australia >>  6/23/2022 - • Additional $20 million facility has been agreed with Macquarie Bank Limited.
o $10 million committed and executed for current operational acti...





Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.