Union Jack Advances Biscathorpe Well Project
Anita Riotta
Company News
14:16, 6th December 2018

Union Jack Oil FOLLOW, a UK focused onshore hydrocarbon production, development, and exploration company, released a positive update today on their Biscathorpe-2 appraisal well in PEDL253, in which Union Jack has a 22% licence interest.

A conductor rig will be mobilised to set surface casing following completion of site construction, expected in the next few days. Next month, a drilling rig is expected to be mobilised with well completion expected in mid-February 2019.

The geological chance of success at Biscathorpe-2 is 40% with 14 million barrels of oil in mean prospective resources.

David Bramhill, Executive Chairman of Union Jack, expressed optimism as the project moves forward: “The company’s economic modelling of the Biscathorpe Prospect highlights its attractiveness and shows a pre-drill value for the success case of circa £24 million net to Union Jack.”


For more news and updates on Union Jack Oil: FOLLOW

Disclaimer & Declaration of Interest

The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

Comments
info
Login or register to post comments

Recent Articles
Watchlist