Union Jack Oil CEO Bramhill discusses diversification plans, profit focus, and Wressle success

Bramhill talks about Chevron with its $286 billion market cap becoming a neighbour. He also talks about his company’s share price coming under pressure, hence the diversification into the States and Oklahoma, which he considers a safe bet particularly as drilling is inexpensive compared to home and there’s a 75% chance of success on the earmarked well. “We have to have some cash flow. All I’m interested in is profit.” Not that Union Jack Oil is under financial pressure in the U.K. which Bramhill says has been very good to the company. The ‘cash cow’ Wressle remains so having given the company revenue of £19 million since 2021.

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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