Today’s RNS, although intimated by David Bramhill, contains a few surprises unexpected by most, if not all!
I personally have never heard mention of the Rotliegend, which is a geological formation found in northwest Europe, particularly in the North Sea region. It’s known for its significance in hydrocarbon exploration, especially for natural gas. The formation consists of sandstone layers deposited during the Permian period, known for their high porosity and permeability, making them excellent reservoir rocks for trapping and storing hydrocarbons. Many oil and gas fields in the North Sea are situated within the Rotliegend formation, and it has been a target for exploration and production activities for decades. I look forward to more information on this new target.
It would appear that the whole West Newton project is to be expedited, from mobilisation to completion this year in terms of revenue generation which almost seems like a blow to many who have, to date, been very prolific in their attempts to discredit the JV partnership over this asset.
In Union Jack’s case, management are coming good on a number of their operations from the Wressle success to the mineral royalties, the entry into the US and now this.
Some continue to find issue, personally I am more than pleased with what they have achieved and look forward to more of the same.
