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West Newton A-2 Appraisal Well preliminary results
West Newton A-2 Appraisal Well preliminary results.
About this update from Union Jack Oil Plc
[{"type":"text","content":"\n \nRNS Number : 3911C Union Jack Oil PLC 17 June 2019 \n\n17 June 2019 \n \n \n Market Abuse Regulation (MAR) Disclosure\nCertain 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 \nUnion Jack Oil plc\n(\"Union Jack\" or the \"Company\")\nSuccessful Result at West Newton A-2 Appraisal Well\n \nUnion Jack Oil plc (AIM: UJO), a UK focused on-shore hydrocarbon production, development and exploration company is pleased to announce positive preliminary results in respect of the recently drilled West Newton A-2 conventional appraisal well, located within PEDL 183 and operated by Rathlin Energy (UK) Limited. Union Jack holds a 16.665% interest in this licence containing the West Newton A-1 discovery well and West Newton A-2 appraisal well.\nHighlights\n· Substantial hydrocarbon accumulation within a net 65 metre interval encountered in the primary target, the Kirkham Abbey formation\n· Significant liquids component identified from core and logging data\n· Extended well test planned for Q3 2019\n· Planning permission in place for an extended well test\n· Potentially transformational well result for Union Jack\n \n \nDavid Bramhill, Executive Chairman of Union Jack, commented:\n\"The initial results of the West Newton A-2 appraisal well exceed our expectations. The most important aspect of this drilling exercise is that the operation was undertaken in a safe and competent manner by the operator.\n\"We rank the West Newton project very highly and look forward to the results of testing during Q3 2019\".\n\"These encouraging results suggest to us that the West Newton project has the potential to achieve our goal of transforming Union Jack from a junior exploration and production company into a self-sustaining mid-tier hydrocarbon producer\".\n \nDrilling and Results Summary\nThe West Newto...