Overview

• Union Jack Oil and 360 Energy signed a non-binding LOI on August 7 to deploy Bitcoin mining rigs powered by gas from the West Newton A well.
• The project will use 360 Energy’s In-Field Computing technology to turn uneconomic gas volumes into electricity for on-site data centers instead of flaring.
• Union Jack aims to unlock early revenue and bypass lengthy regulatory approvals ahead of full-scale gas field development.
• West Newton holds an estimated 200 billion cubic feet of recoverable 2C gas and Union Jack retains a 16.665 percent working interest in the license.
• If the pilot proves viable, Union Jack’s board may establish a corporate Bitcoin treasury and consider expanding the model across its assets.