CASSIOPEIA INVEST~TALKS PODCAST #2: UK Energy Security: London-listed Union Jack Oil increases interest in Wressle ahead of production.

In this episode of Invest~Talks, we talk to Zac Phllips, Business Development at London-listed Union Jack Oil (LON: UJO), a UK-focused oil and gas company. This morning, UJO announced an increase in its interest in the Wressle development hydrocarbon project located in Lincolnshire. The acquisition results is 40 percent interest for UJO. First oil at Wressle is expected during H2 2020, and production is estimated at initial 500 bopd gross, of which 200 bopd are net to UJO.

Wressle is one of Union Jack's flagship assets which are part of the company's strategy to focus on major projects to deliver growth in reserves, production and asset value. 

Oil and gas provides more than 75 percent of the UK’s total primary energy, according to data from Oil and Gas UK. Wressle is a key asset to provide sources for energy security needs in the UK as it will help to reduce reliance on energy imports, and it will also bring great economic benefits to the region, with a boost in employment and opportunities for the local  community.