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UK oil and gas juniors react as government bans fracking activity

A number of junior UK oil and gas stocks have issued a response to the government’s decision to halt shale gas extraction indefinitely over the weekend. The suspension came after a report by the Oil and Gas Authority said it is not currently possible to predict the probability or size of tremors caused by the practice – commonly referred to as fracking. The report comes after fracking activity by Cuadrilla Resources at its Preston New Road site in Lancashire caused a magnitude 2.9 earthquake in the Summer.

Both Union Jack Oil (LSE:UJO) and Europa Oil & Gas (LSE:EOG) issued statements confirming that their UK operations would be unaffected by the UK government’s decision.

Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.

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