14th Jun 2023 11:48
Union Jack Oil PLC - Bath, England-based UK-focused onshore hydrocarbon production, development, and exploration company - Reports its material landmark net revenues is in excess of USD16 million in the Wressle hydrocarbon development located in North Lincolnshire, since production recommenced in August 2021. Union Jack Oil has a 40% economic interest in this development. Says oil production stable at 780 barrels per day, compared to 750 barrels on June 20, 2022.
Chair David Bramhill: "Revenues from Wressle continue to bolster the company's balance sheet, complemented by cash-flow from the Keddington oilfield where planning is in place and a side-track well is planned to be drilled."
Current share price: 28.88 pence, up 2.2%
12-month change: up 7.0%
By Will Neill, Alliance News reporter
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