Union Jack holds a 50% interest in PEDL241 containing the North Kelsey Prospect, which is located within the proven hydrocarbon fairway of the Humberside Platform.

North Kelsey is a conventional oil prospect along trend from and analogous to the Wressle oil development, which lies approximately 15 kilometres to the northwest. It is a well-defined tilted fault-block mapped from 3D seismic.

Based on offset well data, potential exists for up to four separate oil bearing stacked conventional reservoir intervals in the Chatsworth, Beacon Hill, Ravensthorpe and Santon sandstones. The nearby Crosby Warren oil field and the Brigg oil discovery are productive from the Upper Carboniferous Namurian aged reservoirs.

Union Jack holds a 50% interest in PEDL241 containing the North Kelsey Prospect, which is located within the proven hydrocarbon fairway of the Humberside Platform.

North Kelsey is a conventional oil prospect along trend from and analogous to the Wressle oil development, which lies approximately 15 kilometres to the northwest. It is a well-defined tilted fault-block mapped from 3D seismic.

Based on offset well data, potential exists for up to four separate oil bearing stacked conventional reservoir intervals in the Chatsworth, Beacon Hill, Ravensthorpe and Santon sandstones. The nearby Crosby Warren oil field and the Brigg oil discovery are productive from the Upper Carboniferous Namurian aged reservoirs.

The Operator estimates that the Prospective Resources range from 4.66 million barrels up to 8.47 million barrels of oil, with a Mean Resource volume of 6.47 million barrels.

The subsurface target location to evaluate the exploration of the North Kelsey Prospect has been defined and a surface drilling location has been identified from which a vertical well can be drilled.

In September 2020, the existing planning consent for drilling North Kelsey-1 was extended to 31 December 2021 by the Lincoln County Council. Requisite permits for drilling have also been received from the Environment Agency.