Union Jack Oil in sound financial health with a robust Balance Sheet

Union Jack Oil plc (LON:UJO) (OTCQB: UJOGF), a UK and USA focused onshore hydrocarbon production, development, exploration and investment company, has announced its audited results for the year ended 31 December 2023.

Operational Highlights

•      Flagship Wressle project continues to deliver following a workover, installation of a down hole pump and other significant site upgrades

•      Wressle Competent Person’s Report upgrades Reserves by 263%

•      Application submitted for the drilling of two back-to-back Wressle development wells and the Penistone Flags gas monetisation

•      Positive Biscathorpe planning appeal decision

•      Sale of 2.5% interest in offshore North Sea Claymore Area Royalty

•      Commencement of acquisition of United States Mineral Royalties and drilling activity in Oklahoma

•      Planned drilling and development during 2024 to encompass both sides of the Atlantic

•      Post Balance Sheet date, the Andrews 1-17 Well, in Oklahoma, USA, has been declared a commercial discovery

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