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Union Jack Oil's Biscathorpe-2 well 'back on the map' after new analysis

Union Jack Oil PLC's (LON:UJO) David Bramhill tells Proactive London's Andrew Scott analysis of the Biscathorpe-2 well in Lincolnshire has shown it to be much more promising than previously indicated.

Consultant APT has carried out a sample taken from 20 intervals that indicates the presence of a 35-metre column of good quality oil at a depth of a 1,980 metres with more possible below 2,133m.

Quick facts: Union Jack Oil PLC

Price: 0.17 GBX

AIM:UJO
Market: AIM
Market Cap: £26.25 m
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Union Jack Oil 'has all the right ingredients for a highly positive 2020' -...

Union Jack Oil PLC’s (LON:UJO) David Bramhill tells Proactive London's Andrew Scott they're fully funded for all its current drilling and well testing commitments. He says they had £5.5mln cash in the bank at the start of May and remains debt-free. Bramhill is confident the company can...

2 weeks, 4 days ago

2 min read