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Union Jack Oil delighted with Keddington result

Published: 10:21 08 Feb 2016 GMT

Oil-and-gas-pipes
Union Jack Oil has a 10% stake in Keddington.

Onshore UK oil and gas explorer Egdon Resources (LON:EDR) recorded elevated gas readings, indicative of the presence of hydrocarbons, at its Keddington-5 well in  the East Midlands.

Hydrocarbons were recorded at from a gross interval of 141 metres, containing 62 metres of net sand, Egdon said.

The well has now been suspended to enable production flow testing of the reservoir with a traditional beam pump.

Union Jack Oil (LON:UJO) has a 10% stake in Keddington.

David Bramhill, its executive chairman, said: “We are delighted with the initial results from drilling of the KD5 well.

“Given the well's location, situated within the producing Keddington oil field, with existing production facilities and infrastructure, we look forward to the next stage in our further evaluation of results from the KD5 well."

 

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