Keddington, is currently producing approximately 25 bopd of high-quality oil per day from Carboniferous age sandstone reservoirs, is located along the highly prospective East Barkwith Ridge, an east-west structural high on the southern margin of the Humber Basin.

A detailed, in-depth subsurface review of the Keddington oilfield and the surrounding licence area has been conducted by Union Jack and Egdon, resulting in a fully audited and consistent data set that supports updated resource estimates generated by the Operator.

These geological and geophysical studies indicate that significant resources remain unswept at Keddington, highlighting an excellent opportunity to increase production volumes multifold by the drilling of a relatively inexpensive development well from the existing production site.

Planning permission is in place for the drilling of a further two wells.

The gross remaining Mean Contingent Resource at Keddington is 567,000 bbls of oil (311,000 bbls net to Union Jack).

The Operator is finalising the assessment of potential in-fill drilling locations at Keddington with a view to targeting a side-track drilling location.

Keddington, is currently producing approximately 25 bopd of high-quality oil per day from Carboniferous age sandstone reservoirs, is located along the highly prospective East Barkwith Ridge, an east-west structural high on the southern margin of the Humber Basin.

A detailed, in-depth subsurface review of the Keddington oilfield and the surrounding licence area has been conducted by Union Jack and Egdon, resulting in a fully audited and consistent data set that supports updated resource estimates generated by the Operator.

These geological and geophysical studies indicate that significant resources remain unswept at Keddington, highlighting an excellent opportunity to increase production volumes multifold by the drilling of a relatively inexpensive development well from the existing production site.

Planning permission is in place for the drilling of a further two wells.

The gross remaining Mean Contingent Resource at Keddington is 567,000 bbls of oil (311,000 bbls net to Union Jack).

The Operator is finalising the assessment of potential in-fill drilling locations at Keddington with a view to targeting a side-track drilling location.

THE LICENCE LOCATION AND PERCENTAGE INTEREST HOLDINGS ARE AS FOLLOW: