Shares in Union Jack Oil fell more than 20% on the publication of an assessment of the Wressle oil field in North Lincolnshire this morning.
The industry regulator has given the go-ahead for formal production at the Wressle oil site in North Lincolnshire.
The leading partner in the Wressle oil site has reported an increase in revenues of 1099% in 2021, compared with the year before.
Europa Oil & Gas has claimed its strongest interim financial performance for seven years, driven by oil production from the Wressle site in North Lincolnshire.
The operator of the Wressle oil well in North Lincolnshire has said production could reach 1,543 barrels per day.
The operator of the Wressle oil site in North Lincolnshire said well testing would be completed early next year.
The operator of the Wressle oil well in North Lincolnshire said initial production exceeded 884 barrels of oil per day (bopd).
Union Jack Oil reported today it had made about US$300,000 (£217,000) from test production at the Wressle well in North Lincolnshire.
Tests at the Wressle oil site in North Lincolnshire have exceeded flow rates of 500 barrels of oil per day, the operator, Egdon Resources said this morning.
A controversial operation to improve oil flow at a site in Lincolnshire has been successful, the operator said this morning.