Union Jack Flies Flag in Lincolnshire

Junior explorer Union Jack Oil announced Wednesday that it has agreed with Egdon Resources UK that it will farm into an onshore license in Lincolnshire, UK.

Petroleum Exploration and Development Licence 180 (PEDL 180) is on the western margin of the Humber Basin and includes the Wressle Project that was acquired by Egdon in 2012.

Gross mean prospective resources at Wressle are estimated at 2.1 million barrels of oil, and a well – to be drilled to 7,550 feet – is scheduled to begin operations in 4Q 2013.

After the farm-in deal is completed Egdon Resources will hold 25 percent of PEDL180, with Union Jack Oil holding 8.3 percent. Celtique Energie Petroleum and Europa Oil & Gas will both hold 33.3 percent.

Have a news tip? Share it with Rigzone!
Email news@rigzone.com


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies

Our Privacy Pledge

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Aker Solutions to Buy Brazilian C.S.E (Oct 21)
 -  Sea Trucks Group Secures Work Offshore... (Oct 21)
 -  Shell Divests Non-Core Oil, Gas Proper... (Oct 21)
 -  Petrofac Appoints New CFO (Oct 21)
 -  Wheatstone LNG Development Start-Up in... (Oct 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Project Controls Specialist
Expertise: Project Management
Location: Minneapolis
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: West Sacramento, CA
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Denver, CO
search for more jobs

Brent Crude Oil : $50.79/BBL 1.30%
Light Crude Oil : $49.96/BBL 1.10%
Natural Gas : $2.77/MMBtu 2.12%
Updated in last 24 hours