FTSE 100 closes at new high
The index of blue-chip shares was up 4 points to 7,554 around 3.50pm
Company
LON:UJO
Union Jack Oil PLC is an oil and gas company with a focus on onshore production, development, exploration and investment opportunities within the United Kingdom and the United States of America hydrocarbon sector.
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The index of blue-chip shares was up 4 points to 7,554 around 3.50pm
The Holmwood project is targeting a conventional oil prospect but will also gather information on the Kimmeridge oil play in this location.
New discoveries onshore UK as well as abroad provided the week's oil and gas highlights.
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
A look at some of the top risers and fallers in London in afternoon trading
"The opportunity for Union Jack to acquire Cairn Energy`s UK onshore hydrocarbon portfolio which comprise assets we hold in high regard, at nominal cost is an excellent result”
The FTSE 100 index closed 14.98 down at 7,507, above the day’s low of 7,496.14, and well below the opening high of 7,523.65
The core of the portfolio is in the East Midlands Basin, which includes the Wressle-1 oil discovery
Archive
A glance at some of the day's highlights from the Proactive Investors newswire
A look at some of the top risers and fallers in London today
"The next six months for Union Jack are expected to be particularly active with drilling of the high-impact Holmwood-1 and Biscathorpe-2 conventional exploration wells,” Bramhill said
The exploration well will be drilled down to a depth of 2,100 metres, the target has been estimated in the order of 14mln barrels and the chance of success is set at 40%.
Investments and investor services
Companies featured: Grand Group Investment, PV Crystalox Solar, Thor Mining, Falcon Media House, Game Digital, Proxama, Sports Direct International, Arian Silver Corp, Nu-Oil & Gas, Dart Group
UJO owns a 15% stake in Wressle, which would be due for production following exploration and testing success.
Investments and investor services
Footsie was becalmed throughout the day, leaving the mid-cap FTSE 250 to claim the limelight
“We will now take forward our appeal against the original 11 January 2017 determination"