Union Jack Oil PLC (LON:UJO) has updated on the Wressle oil field development project, in Lincolnshire, where a rig arrived last week and operations are now underway.
Following the arrival of the rig and equipment on site work to recomplete and reperforate began, with the aim of flowing the Ashover Grit reservoir before the end of January.
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The reservoir is expected to yield 500 barrels of oil per day (bopd), at a constrained rate, and will therefore lift Union Jack’s production volumes by around 200 bopd once fully on stream.
Union Jack holds a 40% interest in the project, which is operated by Egdon Resources.