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Union Jack Oil: West Newton operator updates on test plans

Project operator Rathlin Energy noted that it will seek an additional consent ahead of well testing.

oil and gas operations
Rathlin Energy presented information to a community liaison group

Union Jack Oil Plc (LON:UJO) highlighted comments made by the operator of the West Newton oil discovery.

In a stock market statement, the company relayed what Rathlin Energy told a community liaison group which said that it is progressing plans to test the WNA-2 well.

Rathlin details its need to seek additional permits.

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“Based on the analysis of the data gathered while drilling, it is uncertain whether the well may flow oil or gas, or a combination of both. Furthermore, the composition of the hydrocarbons would need to be determined during the well test,” Rathlin noted.

“Given the uncertainty of the hydrocarbon composition, and to ensure that Rathlin has the appropriate consents in place, an application has been submitted to East Riding of Yorkshire Council for a Hazardous Substances Consent which would allow for the storage of up to 199 tonnes of crude oil.”

Rathlin highlighted that the well test should take between four and eight weeks to complete.

It added: “The current planning permission for the WNA site is a temporary permission which allows for the drilling and testing of up to two wells but does not provide for the continued production of hydrocarbons after the well test.

“Any future plans for the site would be determined based on the information gained through the well test and obtaining the necessary regulatory permissions."

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Price: 0.1703 GBX

Market: AIM
Market Cap: £34.98 m

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