Union Jack’s latest drilling update of the West Newton B-1 well (WNB-1) outlines that the Kirkham Abbey formation is hydrocarbon bearing which supports pre-drill expectations and previous drilling results from the A-1 and A-2 wells. The secondary target (the Cadeby formation) was always deemed to be much higher risk and therefore we had not previously valued this interval, therefore today’s update has no impact on the material base case resource estimates at West Newton (146MMBbl oil, 211Bcf gas ....
23 Nov 2020
Drilling update confirms pre-drill expectations
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Drilling update confirms pre-drill expectations
Union Jack Oil Plc (UJO:LON) | 14.5 -0.1 (-3.3%) | Mkt Cap: 15.5m
- Published:
23 Nov 2020 -
Author:
Research Archive -
Pages:
2
Union Jack’s latest drilling update of the West Newton B-1 well (WNB-1) outlines that the Kirkham Abbey formation is hydrocarbon bearing which supports pre-drill expectations and previous drilling results from the A-1 and A-2 wells. The secondary target (the Cadeby formation) was always deemed to be much higher risk and therefore we had not previously valued this interval, therefore today’s update has no impact on the material base case resource estimates at West Newton (146MMBbl oil, 211Bcf gas ....