(AIM: UJO)
PEDL241 - Acquisition of Additional Interest
Under the terms of the agreement, Union Jack will increase its interest in the licence from 10% to 20%. PEDL241 contains the North Kelsey Prospect which is located approximately 10 kilometres to the south of the Wressle-1 discovery well in PEDL180. The prospect is defined on 3D seismic data and has potential for up to four stacked conventional reservoir intervals in the Chatsworth, Beacon Hill, Raventhorpe and Santon sandstones. The estimate of gross mean combined Prospective Resources for these multiple objectives, as calculated by the Operator, Egdon, is 6.7 million barrels of oil.
Planning consent was received for the North Kelsey-1 well in
The transfer of interest is subject to approval by the
Following completion of this transaction (and a separate transaction between
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20% |
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80% (Operator) |
For further information please contact the following:
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+44 (0) 77871 60682 |
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Shore Capital Nominated Adviser Bidhi Bhoma, Corporate Broking
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+44 (0) 20 7408 4090
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SP Angel Joint Broker Richard Hail
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+44 (0) 20 3470 0470 |
Public Relations |
+44 (0)7768 537 739 +44 (0)7799 003 220 |
This information is provided by RNS