Union Jack Oil plc (AIM: UJO), the UK-focused onshore hydrocarbon company, has announced it is noting the completion of a Stage 1 feasibility study into an integrated gas-to-power and co-located data centre project at the West Newton site in England. The study was released by Reabold Resources plc, a co-participant at the asset. Union Jack holds a 16.665% working interest in West Newton, meaning any progression of this project would have a direct bearing on the company's operational and financial outlook. Investors are likely to monitor how the project advances beyond this initial feasibility stage.

Key Points

  • Union Jack Oil plc (AIM: UJO) is an AIM-listed, UK-focused onshore oil and gas company
  • Reabold Resources plc has completed a Stage 1 feasibility study into an integrated gas-to-power and co-located data centre at West Newton
  • Union Jack holds a 16.665% working interest in the West Newton site
  • Investors should watch for further announcements on Stage 2 feasibility or project sanction decisions at West Newton

West Newton Stage 1 Feasibility Study into Gas-to-Power and Co-Located Data Centre Completed

The announcement states that Reabold Resources plc has completed the Stage 1 feasibility study examining the viability of an integrated gas-to-power facility alongside a co-located data centre at the West Newton site. Union Jack Oil's update serves to inform its own shareholders of this development, given the company's direct working interest in the asset. The concept of combining natural gas power generation with data centre infrastructure represents an emerging model in the energy sector, whereby on-site power generation is used to supply energy-intensive computing facilities. The company did not disclose the financial terms or projected costs associated with the feasibility study in this announcement.

Union Jack Oil's 16.665% Working Interest in West Newton and What It Means

Union Jack Oil holds a 16.665% working interest in West Newton, an onshore UK site that the company has previously identified as a material asset within its portfolio. This working interest level means that Union Jack would participate proportionally in any costs, revenues, or development decisions arising from the project as it progresses. The West Newton asset has been a focus for the company's growth strategy in the UK onshore sector. The announcement does not provide updated resource estimates, development timelines, or capital expenditure projections associated with the gas-to-compute concept at this stage.

Reabold Resources Leads West Newton Disclosure as Operator-Level Announcement

Union Jack Oil's update explicitly references and directs investors to the original announcement published by Reabold Resources plc on the London Stock Exchange. This structure reflects the working interest relationship at West Newton, whereby Reabold Resources holds a leading role in communicating operational developments at the asset. Union Jack's own disclosure is therefore a secondary noting announcement rather than an independent operational update. The company's executive chairman is Craig Howie, with John Americanos serving as executive director. SP Angel Corporate Finance LLP acts as nominated adviser and joint broker, with Zeus Capital Limited serving as joint broker.