The start of production at Wressle is a long-awaited milestone for the company as it will significantly increase total volume
() has told investors that oil is free-flowing at the Wressle field, in Lincolnshire.
It comes after successful operations to recomplete the Ashover Grit reservoir interval.
The well has now been placed on a continuous 24-hour production test.
Presently, the well is in a normal clean-up phase, and, Union Jack highlighted that the well is being brought online carefully.
Produced oil will be transported by road tanker to the Humber refinery, Union Jack noted.
Partners in the venture expect to provide more detailed production information once rates have stabilised.
Union Jack owns a 40% interest in the Wressle project.
NO INVESTMENT ADVICE
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 named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...
FOR OUR FULL DISCLAIMER CLICK HERE