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Reabold Resources and Union Jack Oil welcomed news that partner Rathlin Energy had received a positive permitting decision for planned testing work at the West Newton discovery in East Yorkshire.
Reabold held about 39% of West Newton via its 59% stake in project operator Rathlin, while Union Jack held a 16.7% interest in the licence.
The UK's Environmental Agency had allowed Rathlin to use mechanical methods for lifting wellbore fluids and for the utilisation of a smaller incineration unit during the testing of the West Newton A-2 well.
Testing operations at West Newton would recommence once government guidance pertaining to Covid-19 permits, the required personnel and equipment became available.
'We now have all key permits in place which allow the testing of the West Newton A-2 well,' Union Jack executive chairman David Bramhill said.
'We are also seeing excellent progress with regards initial works at the West Newton B site.'
At 2:07pm:
(LON:RBD) Reabold Resources Plc share price was 0p at 0.4p
(LON:UJO) Union Jack Oil Plc share price was +0p at 0.1p