logo-loader
viewUnion Jack Oil PLC

West Newton acquisition 'a cracking deal' for Union Jack Oil Plc

David Bramhill, executive chairman of Union Jack Oil PLC (LON:UJO) discusses with Proactive's Andrew Scott their decision to acquire a 16.667% stake in the West Newton gas discovery in Yorkshire.

To support the transaction UJO's raising £2.25mln of new capital.

The transaction's been agreed with Rathlin Energy, a subsidiary of Canadian firm Connaught Oil & Gas, via a farm-out that commits UJO to cover 25% of the cost of an appraisal well in the first quarter of 2019.

Quick facts: Union Jack Oil PLC

Price: 0.099 GBX

AIM:UJO
Market: AIM
Market Cap: £15.29 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Union Jack Oil PLC named herein, including the promotion by the Company of Union Jack Oil PLC in any Content on the Site, the Company receives...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Union Jack Oil's Biscathorpe project stands up as "robust" at current oil prices

Union Jack Oil PLC's (LON:UJO) David Bramhill discusses with Proactive London's Andrew Scott the findings of a new assessment of the Biscathorpe project including an economic review which has found it's a financially robust project at current oil prices. It confirms the value of Westphalian,...

4 days, 20 hours ago

2 min read