Union Jack Oil said it has commenced drilling operations at the Laughton-1 well in the East Midlands.
The well is situated with PEDL209, located along the eastern side of the Gainsbrough Trough.
Last month, Union Jack acquired a 10% interests in the conventional interest with PEDL209 from Egdon Resources in return for paying 16.67% of the cost of the Laughton-1 well.
The well will target a structural trap at a depth of over 1,500 metres below ground level defined on reprocessed two-dimensional seismic data.
David Bramhill, Executive Chairman of Union Jack Oil, said:”We are pleased to be part of the team participating in the Laughton-1 well which has potential for discoveries in several stacked
reservoirs, similar to the Wressle-1 discovery in which Union Jack holds an 8.33% interest.
“Even in this period of low oil and gas prices our strategy of focusing within the UK onshore sector remains sound and our current portfolio of interests continue to be commercially appealing.”
Union Jack said the Laughton Prospect has multiple conventional Cabroniferous sandstone reservoir targets with primary objective being the Silkstone Rock.
Two other potential reservoirs, the Kilburn Sandstone and the Wingfield Flags, will also be targeted by the well.
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