Union Jack Oil PLC (AIM:UJO) chairman David Bramhill speaks with Proactive soon after publishing the findings from an expert assessment of the reservoirs at the Wressle field, onshore UK, that indicate the potential for a significant upgrade to resources.
Consultant Gaffney, Cline & Associates saw potential for an extra 10.12mln barrels of oil-initially-in-place and 2.43mln barrels of potentially recoverable resources, based on its analysis of ‘speculative deeper oil-water contact’ for the Ashover Grit reservoir.
In August, Union Jack reported that the field had generated over US$9mln in net revenue since production recommenced amidst strong crude oil pricing.