Business
Final Results
Final Results.
About this update from Union Jack Oil Plc
[{"type":"text","content":"\n \nRNS Number : 2207Y Union Jack Oil PLC 16 May 2016 \n\nUNION JACK OIL PLC\n(AIM: UJO)\n \nFinal Results for the Year Ended 31 December 2015\n \nUnion Jack Oil plc (\"Union Jack\" or the \"Company\") an onshore exploration and production company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector, is pleased to announce its audited results for the year ended 31 December 2015.\nOperational Highlights\n· Successful hydrocarbon discovery at Wressle and decision to develop with a view to commencing commercial production during H2 2016\n· The acquisition of a 10% interest in PEDL005(R) incorporating the Keddington Oilfield \nFinancial Highlights\n· Cash balance in excess of £2.6 million as at 30 April 2016\n· £800,000 before expenses raised in October 2015 to further expand the Company's asset portfolio \n· The Company remains debt free \nDavid Bramhill, Executive Chairman, commented: \"2015 has proved to be a successful year for the Company. Union Jack is in a sound position with an interest in a discovery at Wressle, which is moving closer to development, with a view to commencing commercial oil production during H2 2016, together with a healthy cash balance to progress its existing portfolio of drill-ready potentially high impact exploration prospects. In addition, Union Jack has firm intentions of expanding its interests in other areas of the UK. \nI am enthusiastic in respect of the year ahead and I look forward to reporting progress with our projects and new acquisitions during 2016 and beyond.\"\n \nFor further information please contact the following: \n\n\n\n\nUnion Jack Oil plc \nDavid Bramhill\n\n\n+44 (0) 77871 60682 \n\n\n\n\nShore Capital \nNominated Adviser\nEdward Mansfield\nAnita Ghanekar \nCorporate Broking \nJerry Keen \n\n\n+44 (0) 20 7408 4090 \n\n\n\n\nSP AngelJoint Broker\nRichard Hail\n\n\n+44 (0) 20 3470 0470\n\n\n\n\nYellow Jersey PR Limited \nPublic Relations \nDominic Barretto\nAiden Stanley\n\n\n+44 (0) 7768 537 739 \n \n\n\n\n\n \n \n \n\n\n\n\n\n\n\nIn accordance with the AIM Rules - Note for Mining and Oil and Gas Companies, the information contained within this announcement has been re...