A drilling licence in Lincolnshire remains one of the UK’s largest untested onshore prospects, Union Jack said today, even though the most recent well was suspended without finding oil or gas.
An investor in the West Newton wellsite in East Yorkshire has said it could be the UK’s largest onshore gasfield and the largest onshore hydrocarbon discovery since 1973.
The onshore oil and gas company, Union Jack Oil has announced a loss of £1.1m in its accounts for 2018, published today. This compares with a deficit of £0.75m in 2017.
Investors in the West Newton oil and gas site north of Hull have announced that drilling is underway on a second well.
UK Oil & Gas plc has acquired the interests of two companies in the Holmwood exploration licence, south of Dorking in Surrey.
Edgon Resources confirmed this afternoon it had begun drilling its oil exploration well at Biscathorpe, near Louth in Lincolnshire.
The exploration company, Rathlin Energy, owed nearly £34m, according to annual accounts published yesterday (7 November 2018).