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Union Jack Oil welcomes crude storage nod for Wressle project
StockMarketWire.com
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Oil company Union Jack Oil welcomed news that North Lincolnshire Council had approved the storage of crude oil at the Wressle project.
Union Jack held a 40% economic interest in the development, which was operated by Egdon Resources.
The grant of consent allowed full use of the installed oil storage capacity at site of about 2,000 barrels.
Union Jack said it would enable full production from the Wressle-1 well following a proppant squeeze expected to increase production to a constrained 500 barrels of oil per day.
At 9:24am: (LON:UJO) Union Jack Oil Plc share price was 0p at 0.15p
Story provided by StockMarketWire.com
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