Union Jack Oil PLC (AIM:UJO) told investors that it has expanded the scope of a competent persons report (CPR), commissioned to consultant Gaffney Cline, which is assessing the Wressle field.
The expanded report will now incorporate the estimation of reserve values for Wressle’s Ashover Grit and Wingfield Flags reservoirs, highlight any additional potential reservoirs, an indicative 2C resource profile for the Penistone Flags reservoir, along with a reserve and resource profile that will illustrate future field potential.
Union Jack said its decision to expand the CPR was made following the receipt of further positive information in respect of downhole pressures and the continued elevated production figures from Wressle.
"Wressle continues to outperform over and above original prognosis and expectations,” said David Bramhill, Union Jack executive chairman.
"We are confident that the expanded Gaffney Cline report will assist in highlighting the true upside potential of this economically attractive conventional hydrocarbon development.
"Union Jack looks forward to sharing the results of this report once received."