Union Jack Oil plc (LON:UJO) a UK focused onshore hydrocarbon production, development and exploration company has announced that the Company has acquired a disclosable interest in Beacon Energy plc (LON:BCE).
Beacon is a full cycle oil and gas company with a portfolio of production, development, appraisal and exploration onshore German assets through its wholly owned subsidiary, Rhein Petroleum GmbH.
Union Jack holds 430,000,000 ordinary shares of no par value in Beacon representing 3.22% of Beacon’s issued share capital following completion of the company’s recent fundraise.