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Union Jack's Biscathorpe-2 well 'much more promising than previously indicated'

Top stories from the Proactive Investors UK newsroom.

Union Jack Oil (LON:UJO) has welcomed a review of the Biscathorpe-2 well in Lincolnshire, which has shown it to be much better than previously thought. The analysis highlights the presence of a 35 metre column of good quality oil and proximity to an effective petroleum system.

Ceres Power (LON:CWR) and Doosan are to work together to develop a Solid Oxide Fuel Cell power system, for the commercial building market in South Korea.  The agreement's worth £8mln to Ceres over two years.

YellowCake (LON:YCA) has welcomed the decision by US President Donald Trump to implement no new trade restrictions on uranium imports into the US.

Sports Direct has delayed its results by a month for the year to end April while its auditor collects more information on issues that could materially affect the guidance given last December. 

Facebook is said to be facing a US$5bn fine for data privacy violations, according to reports over the weekend. US authorities have been investigating the social media over the Cambridge Analytica scandal and improper use of Facebook users data.

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