Union Jack Oil expecting Wressle to generate ‘well over’ £200 million in next decade from oil alone

Union Jack Oil PLC chairman David Bramhill speaks with Proactive soon after publishing the findings from an expert assessment of the reservoirs at the Wressle field, onshore UK, that indicate the potential for a significant upgrade to resources.

Consultant Gaffney, Cline & Associates saw potential for an extra 10.12mln barrels of oil-initially-in-place and 2.43mln barrels of potentially recoverable resources, based on its analysis of ‘speculative deeper oil-water contact’ for the Ashover Grit reservoir.

In August, Union Jack reported that the field had generated over US$9mln in net revenue since production recommenced amidst strong crude oil pricing.

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