Resumption of Production at Wressle-1 Well

Introduction

Union Jack Oil and Europa Oil & Gas (Holdings) have announced the successful resumption of production at the Wressle-1 well, located onshore in the Wressle oilfield in England.

Efficient Operations

Following the installation of a jet pump and associated surface equipment, the well is now producing at gross rates exceeding 950 barrels of oil per day. This is a significant increase from the previous production rate of around 750 barrels per day, prior to the jet pump installation.

Continuous 24-Hour Production

With the jet pump and associated equipment functioning as expected, the Wressle-1 well is now operating continuously on a 24-hour production schedule. Over the next few days, it is expected to further improve its output as it undergoes an ongoing cleaning process.

Resumption of Export and Sale of Oil

The resumption of production also signifies the resumption of the export and sale of oil from the Wressle oilfield. Once production stabilizes, additional information will be shared by the oil companies involved.

Timely Project Completion

Installation work for the jet pump system and associated equipment commenced at the end of August. The estimated timeframe for completion was approximately three weeks, with production expected to recommence by late September. These targets were successfully met.

Partnership Details

Union Jack Oil holds a 40% interest in the Wressle-1 well, while Europa Oil & Gas (Holdings) holds a 30% stake. Egdon Resources holds the remaining 30% share in Wressle.