Union Jack Oil announce Unaudited Results for the Half Year Ended 30 June 2014

Union Jack Oil plc (“Union Jack” or “the Company”), an on-shore oil and gas exploration company with a focus on drilling and development opportunities in the United Kingdom hydrocarbon sector is pleased to announce its unaudited results for the half year ended 30 June 2014.
Operational Highlights
 The successful drilling of Wressle-1 conventional exploration well awaiting flow testing following indication of the presence of hydrocarbons in three main potential pay zones
 Independent technical report published highlighting the shale potential of northern section of PEDL201 indicating un-risked volumes of approximately 540 million stock tank barrels of oil and 270 billion standard cubic feet of gas net to Union Jack
Financial Highlights
 Approximately £4.0 million raised before expenses via three combined oversubscribed institutional placings
 Cash position in excess of £3.5 million as at 29 September 2014
David Bramhill, Executive Chairman, commented: “Overall I am pleased with the progress of Union Jack. The Company is in a good place in respect of funding and the preliminary results from the Wressle-1 well, soon to be tested.A number of potential drill ready projects are currently being assessed and we look forward to expanding our drill ready portfolio over the coming months”
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Source: Union Jack Oil plc
Oil and Gas Press