Union Jack Oil plc has agreed a £1 million secured term loan facility from Egdon Resources UK Ltd, operator of the Wressle joint venture oil field in North Lincolnshire. CONDITIONS Union Jack will use the funds as additional working capital for general corporate purposes. The company holds 40% of Wressle, which lies within PEDLs 180 […]
Tag: Egdon Resources UK Ltd
UJO expects restart of Keddington production
Union Jack Oil plc expects to restart production during late 2024 at the Keddington oil field in the East Lindsey district of Lincolnshire. GROWTH The company, which owns 55% while Egdon Resources (UK) Ltd holds 45%, said that ongoing site improvements were “progressing well”. Elsewhere in the UK, cumulated net revenues profits from the onshore […]
Biscathorpe oil production consent quashed
Egdon Resources plc and the Government have conceded that permission has been quashed for oil production at Biscathorpe in the Lincolnshire Wolds. IMPLICATIONS The move follows last month’s Supreme Court landmark ruling that a consent, issued in 2019 for oil production at Horse Hill in Surrey, must include end-use emissions. Biscathorpe lies within licence PEDL253 […]
Wressle-1 averages 665bopd with pump rates in review
Wressle-1 well production is currently averaging 665 barrels of oil per day at the onshore joint venture in North Lincolnshire. MAXIMISATION Operator Egdon Resources UK Ltd (30%) continues to evaluate the reservoir response to increased pump rates, approved by the Environment Agency, within PEDL180/182 . Union Jack Oil plc (40%), which today reported US$18 million […]
Biscathorpe JV wins appeal for side-track
Egdon Resources Ltd and its partners have won an appeal for side-track drilling operation, testing and long-term oil production at the Biscathorpe-2 well site in the Lincolnshire Wolds. POTENTIAL PEDL253 holders Union Jack Oil plc (45%), operator Egdon (35.8%) and Montrose Industries Ltd (19.2%) secured permission after Lincolnshire County Council last year rejected their application. […]
Egdon exceeds 390,000 barrels of oil from Wressle
Egdon Resources plc said that production had exceeded 390,000 barrels of oil from the Wressle joint venture (JV) in North Lincolnshire. PARTNERS The JV with interests in PEDL180 and PEDL182 comprises Egdon as operator (30%), Union Jack Oil plc (40%) and Europa Oil & Gas (Holdings) plc (30%). OPERATIONS The production figure was reported to […]