Union Jack Oil has increased its interest in one of the UK’s leading onshore shale gas companies by buying an extra 4 million shares.
The purchase brings Union Jack’s holding in Egdon Resources to 17 million shares, representing 3.13% of Egdon’s share capital.
Union Jack said it had exercised four million warrants at 2.5p each to buy the shares.
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.