Union Jack Oil PLC Wressle Operations Update (8084G)

TIDMUJO

RNS Number : 8084G

Union Jack Oil PLC

29 July 2021

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

29 July 2021

Union Jack Oil plc

("Union Jack" or the "Company")

Wressle Operations Update

Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company is pleased to offer an update on operations at the Wressle oilfield development, located in North Lincolnshire, covered by the licences PEDL180 and PEDL182.

Union Jack holds a 40% economic interest in this development.

The Company is pleased to advise that the proppant squeeze operation on the Ashover Grit reservoir interval in the Wressle-1 well has been completed safely and successfully. A total of 146 cubic metres of gelled fluid with 17.3 tonnes of ceramic proppant were injected into the Ashover Grit formation in line with the authorised programme.

No health, safety, environmental or security issues were experienced during the operations; and as predicted, real time monitoring confirmed there was no induced seismicity and that the noise levels were well within the permitted limits. The operation was subject to a pre-operational inspection by the Health and Safety Executive and active monitoring by the Environment Agency. Ground and surface water monitoring has continued in accordance with the requirements of the Environmental Permit.

All equipment and personnel associated with the operation have now demobilised from site.

The Wressle-1 well will now be subject to a coiled tubing operation to fully clean the production tubing prior to bringing the well back into production through the permanently sited production facilities.

Based on the implemented programme, pre-operational simulation modelling concluded that the proppant squeeze operation would result in constrained flow rates of 500 barrels of oil per day (gross).

Once the well is brought back into production, we will provide a further update to report on the stabilised flow rates achieved following the proppant squeeze and coiled tubing operations.

For further information, please contact

Union Jack Oil plc [e-mail]

David Bramhill

   SP Angel Corporate Finance LLP                                         [phone] 

Nominated Adviser and Broker

Richard Morrison

Richard Hail

Caroline Rowe

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July 29, 2021 02:00 ET (06:00 GMT)