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Union Jack Oil's David Bramhill says additional Wressle acquisition is significantly value accretive

Union Jack Oil PLC's (LON:UJO) David Bramhill caught up with Proactive London's Andrew Scott after announcing it's expanding its ownership of the Wressle oil field development project.

UJO's secured a deal to acquire an additional 12.5% interest from Humber Oil & Gas Limited for an initial upfront payment of £500,000.

Wressle's expected to achieve ‘first oil’ and begin production later this year.

Quick facts: Union Jack Oil PLC

Price: 0.275 GBX

AIM:UJO
Market: AIM
Market Cap: £42.46 m
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Union Jack Oil expects to be drilling at West Newton within weeks

Union Jack Oil PLC's (LON:UJO) David Bramhill tells Proactive London's Andrew Scott drilling is due to kick off in the next few weeks at the West Newton project, where an appraisal well will follow up last year’s successful discovery. The plan also includes the combined testing of the new well,...

1 week, 2 days ago

2 min read