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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, the project’s principal target, which is estimated to potentially be worth £55.6mln, meanwhile, the secondary Dinantian Carbonate target is described as a “commercially viable play” with 24.3mln barrels.

Quick facts: Union Jack Oil PLC

Price: 0.1825 GBX

AIM:UJO
Market: AIM
Market Cap: £28.18 m
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Union Jack Oil 'has all the right ingredients for a highly positive 2020' -...

Union Jack Oil PLC’s (LON:UJO) David Bramhill tells Proactive London's Andrew Scott they're fully funded for all its current drilling and well testing commitments. He says they had £5.5mln cash in the bank at the start of May and remains debt-free. Bramhill is confident the company can...

3 weeks, 1 day ago

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