Business
Biscathorpe Proposed Side Well Planning Update
Biscathorpe Proposed Side Well Planning Update.
About this update from Union Jack Oil Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7397E\n Union Jack Oil PLC\n 10 November 2020\n \n \n \n \n Market Abuse Regulation (MAR) Disclosure \n \n \n Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement\n \n \n \n \n \n 10 November 2020\n \n Union Jack Oil plc\n (\"Union Jack\" or the \"Company\")\n Biscathorpe Proposed Side Track Well Planning Update\n Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company notes the positive progress being made in respect of the Biscathorpe project on Lincolnshire licence PEDL253 on the planning process for the proposed re-entry and side track of the existing Biscathorpe 2 well, as per the announcement made today by the Operator. Union Jack holds a 30% economic interest in this licence.\n Excerpt from the Egdon Resources plc RNS made today follows:\n \n \"Egdon Resources plc (AIM: EDR, \"Egdon\") is pleased to provide an update on the Biscathorpe Project in Lincolnshire Licence PEDL253 where the Company holds a 35.80% interest.\n This information will also be provided at a Biscathorpe Community Liaison Group meeting being held later today, 10 November 2020.\n As previously advised, a detailed technical evaluation by the PEDL253 Joint Venture has identified accessible drilling target areas on the Biscathorpe Prospect, where evidence for a thickened Westphalian sandstone reservoir interval is evident on the reprocessed 3-D seismic. These areas can be targeted by a side-track of the existing Biscathorpe-2 well which was suspended following drilling operations in 2019. The proposed side-track will also target the oil column logged in the underlying Dinantian Carbonate in Biscathorpe-2.\n \n \n Egdon, on behalf of the PEDL253 joint venture partners, will be submitting an \n \n \n application for planning permission for the side-track drilling operation, associated testing and in a success case the long-term production of oil at the site. \n \n \n \n \n A screening opinion was sought from Lincolnshire County Council (LCC), in respect of the need for an Environmental Impact Assessment, given the scope of the proposed application, which includes production, and the site locatio...