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Home Latest News

Union Jack Oil PLC notes partners at Biscathorpe end dispute as settlement is received

September 1, 2020
in Latest News
Union Jack Oil PLC notes partners at Biscathorpe end dispute as settlement is received
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Back in June, Humber and Egdon said they looked forward to co-operating in the development of the licence.

() has noted a resolution of the dispute between its fellow partners in the PEDL253 licence, which hosts the Biscathorpe project in Lincolnshire

A payment from Humber Oil & Gas has been received by () following a confidential settlement agreement, agreed in June.

READ: UJO and partners advancing next West Newton well plans

“The joint parties to PEDL253 have therefore resolved the dispute arising under the JOA and look forward to co-operating in the future in the development of the licence,” Egdon said in a statement.

Back in June, Humber and Egdon said they looked forward to co-operating in the future in the development of the licence.

At that time, Egdon also noted that a detailed evaluation of the Biscathorpe project had concluded that a possible material and commercially viable hydrocarbon resource remains to be tested.



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