David Bramhill Executive Chairman-Union Jack Oil PLC (AIM:UJO)
Union Jack Oil PLC (AIM:UJO) Final Results for the Year Ended 31 December 2017
Operational Highlights
á Portfolio expanded with selective, value accretive asset transactions through further interests in Wressle and Biscathorpe
á Proven resources and reserves increased
á Oil production profile expanded via acquisition of interests in Fiskerton Airfield and Keddington oilfields
á Prepared for the drilling of two significant conventional prospects Biscathorpe-2 and Holmwood-1
Financial Highlights
á Cash balance in excess of £2.0 million as at 30 April 2018
á £1.25 million (before expenses) raised in March 2018 to expand further the Company’s asset portfolio
á The Company remains debt free
David Bramhill, Executive Chairman, commented:
“Considerable progress was made in the year under review and in the period up to the signing of these financial statements.
I am enthusiastic in respect of the year ahead and I look forward to reporting progress with our current projects and new acquisitions during 2018 and beyond.
The objective of your Board remains to build a sustainable and profitable conventional onshore hydrocarbon production and development business.”