viewUnion Jack Oil PLC

Union Jack Oil has West Newton's oil potential confirmed by new analysis

The Kirkham Abbey reservoir contains a base case 146mln barrels of oil-in-place and a best case of 283mln barrels.

Union Jack Oil PLC -
The Kirkham Reservoir also contains a base case 211.5bn cubic feet of gas

Union Jack Oil PLC (LON:UJO) has been informed by operator Rathlin Energy that the Kirkham Abbey reservoir in the West Newton project area contains a base case 146mln barrels of oil-in-place and a best case of 283mln barrels.

This liquid element is much higher than originally estimated, David Bramhill, Union Jack’s executive chairman said in a statement

Raithlin came to its conclusion after analysing a 28 metre core sample from Kirkham recovered during the recent drilling of the West Newton A2 well.

Differing rock volumes, porosities and saturations were used in this latest assessment, the company said, particularly the revised petrophysical, fluid saturation, sedimentological and diagenetic analyses.

In addition to the liquids, the Kirkham Reservoir contains a base case 211.5bn cubic feet (bcf) of gas - around 35mln oil barrels equivalent - or 265.9bcf in a best-case scenario.

"We are looking at an onshore project with potential offshore resources, and to date, West Newton is demonstrating the elements required to become a significant conventional hydrocarbon development project in the future," Bramhill added.

Union Jack Oil has a 16.67% stake in West Newton, which is East Yorkshire.

Quick facts: Union Jack Oil PLC

Price: 0.165 GBX

Market: AIM
Market Cap: £25.48 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Union Jack Oil PLC named herein, including the promotion by the Company of Union Jack Oil PLC in any Content on the Site, the Company receives...



Union Jack Oil hails huge Wressle site victory

David Bramhill, chief executive, explains that Union Jack Oil (LON:UJO) is cock-a-hoop today after winning their 3 year court battle; the inspectorate has awarded planning permission in the case against North Lincolnshire Council, with costs given too. The saga began last year when Egdon...

17 hours, 2 minutes ago

2 min read