United Kingdom-focused Union Jack Oil plc has acquired a 3.22 percent interest in Beacon Energy plc.
Beacon is a full-cycle oil and gas company with a portfolio of production, development, appraisal, and exploration onshore Germany through its wholly owned subsidiary Rhein Petroleum GmbH, Union Jack noted in a news release Wednesday.
After Union Jack’s recent fundraising, the company said it now holds 430 million ordinary shares of no par value in Beacon, representing 3.22 percent of Beacon’s issued share capital. The acquisition of shares was confirmed in a filing posted by Beacon on its website.
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.