Holmwood

PEDL143 – Holmwood Prospect

The first Weald Basin licence interest to Union Jack’s expanding UK onshore portfolio.

Unrisked gross mean prospective resources of 5.6 million barrels from the shallower sandstone reservoirs only.

In May 2016, Union Jack entered into an agreement with the Operator, Europa to acquire a 7.5% economic interest in PEDL143 located within the Weald Basin in southern England and containing the drill-ready Holmwood Prospect.

During 2015 planning permission was obtained for both the surface well location and underground wellpath for the Holmwood-1 exploration well expected to be drilled in H2 2017.

The Head of Estate at the Forestry Commission notified the operator Europa Oil and Gas Limited that the Minister for the Environment decided not to renew the lease at Bury Hill Wood.

Following the Minister’s decision Europa, has withdrawn its planning application to drill the Holmwood Prospect on the Bury Hill site.

The PEDL143 licence remains valid and Europa intends to undertake a full evaluation of alternative sites from which to target the Holmwood Prospect.

The percentage interest holdings are as follows:

Holders

Holding (%)

Europe Oil and Gas Limited (operator)

20.0

UK Oil & Gas Investments PLC

30.0

Egdon Resources UK Limited

18.4

Angus Energy plc

12.5

Warwick Energy Exploration Limited

10.0

Union Jack Oil plc

7.5

Altwood Petroleum Limited

1.6

 

100.0

HolmwoodMap