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Union Jack Oil completes on West Newton deal ahead of Q1 2019 spud

David Bramhill, executive chairman of Union Jack Oil PLC (LON:UJO), tells Proactive London's Andrew Scott they've now completed on the deal to acquire a 16.665% interest in the West Newton project, in Yorkshire.

It comes ahead of an appraisal well drilling programme which is due to spud in the first quarter of 2019.

Bramhill says drilling of West Newton will follow the planned commencement of drilling of the conventional Biscathorpe-2 appraisal well on PEDL253 by year end 2018.

Quick facts: Union Jack Oil PLC

Price: 0.0974 GBX

AIM:UJO
Market: AIM
Market Cap: £15.04 m
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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,...

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