Just what was David Bramhill intimating in his interview with Sarah Lowther this week?
One project I believe was the commencement of operations at West Newton, the largest gas discovery in over half a century. This is one asset that has been a bone of contention with shareholders for quite some time, so to see mobilisation here would certainly restore sentiment in both Union Jack and Reabold Resources, the listed company joint venture partner.
There’s little point going back over previous operational failures here, lessons were learned, it is the future that is now important and success in this prospect will likely change the outlook for all concerned.
In August 2023, the EA announced it had “completed a detailed and rigorous assessment” to make sure the proposed changes complied with legal requirements and was satisfied that the appropriate measures were in place for oil and gas extraction without causing harm to the environment or human health. After exploring the issues and concerns that have been raised, the EA could not find any reason to refuse the application.
The results of the well testing had already exceeded expectations and if it does come to fruition, there will be some incredible financial returns to Union Jack on it’s 16.665% investment.
I believe that this will be the next rabbit out of the hat, but we will have to wait and see!
