Business
Completion of Acquistion of Interest in PEDL005
Completion of Acquistion of Interest in PEDL005.
About this update from Union Jack Oil Plc
[{"type":"text","content":"\n \nRNS Number : 5931Z Union Jack Oil PLC 21 September 2015 \n\nUnion Jack Oil plc\n(AIM: UJO)\nCompletion of Acquisition of Interest in PEDL005(R) Incorporating the Keddington Oilfield\n \nFurther to the announcement of 14 July 2015, Union Jack Oil plc (\"Union Jack\" or the \"Company\"), an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector, is pleased to announce that all the required authorities have been received to acquire a 10 per cent. interest in licence PEDL005(R), located in Lincolnshire. PEDL005(R) incorporating the producing Keddington oilfield, the Louth prospect and the North Somercotes prospect (together the \"Acquisition\") from Egdon Resources plc.\n \nFollowing completion of the Acquisition the interests in PEDL005(R) are now:\n \n\n\n\n\n\n\n\nKeddington Oilfield\n\n\nPEDL005(R) Excluding Keddington\n\n\n\n\nEgdon Resources U.K. Limited\n\n\n45%\n\n\n65%\n\n\n\n\nNautical Petroleum Limited\n\n\n10%\n\n\n10%\n\n\n\n\nTerrain Energy Limited\n\n\n35%\n\n\n15%\n\n\n\n\nUnion Jack Oil plc\n\n\n10%\n\n\n10%\n\n\n\n\n \nDavid Bramhill, Executive Chairman of Union Jack Oil plc commented:\n\"We are pleased to complete the acquisition of our interest in Keddington, in line with our strategy to move from a pure exploration company to a production company. The Board believes Keddington, which is currently in production, provides Union Jack with the opportunity to be involved in a relatively low-risk oil production and development play with significant upside potential.\"\n \nFor further information please contact the following:\n\n\n\n\nUnion Jack Oil plc \nDavid Bramhill\n \n\n\n+44 (0) 77871 60682 \n\n\n\n\nShore Capital \nNominated Adviser \nBidhi Bhoma\nEdward Mansfield \nCorporate Broking \nJerry Keen \n \n\n\n+44 (0) 20 7408 4090 \n\n\n\n\nSP AngelJoint Broker\nRichard Hail\n \n\n\n+44 (0) 20 3470 0470\n\n\n\n\nYellow Jersey PR Limited \nPublic Relations \nDominic Barretto\n \n\n\n+44 (0)7768 537 739 \n \n\n\n\n\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END ACQBBLLLEKFBBBD\n ","length":5185,"tagName":"div"}]