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Union Jack Oil jumps on West Newton speculation

The company put out a statement in response to recent market speculation about drilling data from the East Yorkshire project

Union Jack Oil PLC -
West Newton is in the East Riding of Yorkshire

Union Jack Oil PLC (UJO) shares climbed on Wednesday on the back of speculation about the West Newton project in East Yorkshire.

The AIM listed company put out a statement mid-morning on Wednesday in response to recent market speculation in relation to West Newton volumetric data.

Union Jack has a 16.665% interest in the West Newton licence, which is operated by Rathlin Energy.

Rathlin completed flow testing of the A-2 well on 22 August, with analysis of the data gathered still ongoing, Union Jack said.

Union Jack shares were up 7% to 0.24p.

Quick facts: Union Jack Oil PLC

Price: 0.27 GBX

AIM:UJO
Market: AIM
Market Cap: £41.69 m
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Union Jack Oil expects to be drilling at West Newton within weeks

Union Jack Oil PLC's (LON:UJO) David Bramhill tells Proactive London's Andrew Scott drilling is due to kick off in the next few weeks at the West Newton project, where an appraisal well will follow up last year’s successful discovery. The plan also includes the combined testing of the new well,...

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