Union Jack Oil PLC (LON:UJO) Strategic Objective: create shareholder value by building a successful UK onshore E&P company and growing risked asset value per share –
The Board believe the full-cycle costs associated with UK onshore E&P activity remain attractive in a low oil price environment
• Focused on conventional low-cost onshore production, development, and exploration drilling: avoided early-stage and frontier exploration as high risk – Conventional onshore projects are manageable and typically use straight forward development techniques
• Assembled a portfolio of drill-ready exploration and appraisal targets – Shortens lead times between acquisition and either exploration drilling or initial production from discoveries
• Expand drill-ready portfolio selectively: open to production opportunities – Asset farm-in, corporate activity and licence rounds: also targeting attractive low-cost producing assets
• Apply strict financial and technical discipline to our activities – Pride ourselves on having low general and administrative costs for the foreseeable future and remain debt free
The Union Jack Oil presentation in full is here: UJO 2016_Corp_presentation
