Biscathorpe – Page 9 – DRILL OR DROP?

Union Jack raises stake in Biscathorpe

Union Jack Oil is spending £1m to become the largest investor in the Biscathorpe oil licence in Lincolnshire.

Egdon Resources reported a £4.75m loss today, along with falling production and revenues.

DrillOrDrop reviews what might happen in 2021 to UK onshore fracking and other oil and gas developments.

Egdon Resources has announced plans for a new well and oil production at its site at Biscathorpe in Lincolnshire.

Union Jack Oil has raised £7m for work at oil sites in the East Midlands and future acquisitions.

Losses in Union Jack Oil more than doubled in the first half of 2020, compared with the same period last year.

Union Jack Oil announced this morning it had increased its interest in the Biscathorpe oil site in Lincolnshire.

An oil formation in Lincolnshire, missed by a well drilled last year, could be reached by a new sidetrack, a group of companies said today.

The moratorium on fracking, along with planning delays and weak commodity prices are a challenge for the future, Egdon Resources has concluded

Union Jack Oil plc has raised £5m to press ahead with drilling plans at West Newton in East Yorkshire, the company announced this morning.