Union Jack Oil's Acquisition of an Interest in Biscathorpe

Oil & Gas Advisors is pleased to announce that we have acted as an advisor to Union Jack Oil plc (AIM:UJO) on its purchase of Humber Oil and Gas Limited's remaining 15% interest in the Biscathorpe Project (PEDL253) for £1,000,000 (a cash consideration of £500,000 upon OGA approval and, following receipt of various planning approvals, a further contingent payment of £500,000).

Following completion of the Acquisition, Union Jack Oil plc will hold a 45% interest in PEDL253.

More information on the transaction is available from UJO's website here.

Union Jack Oil plc is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector listed on the London Stock Exchange AIM market (Ticker: UJO).

Oil & Gas Advisors is delighted to provide further support to the management team at Union Jack Oil as it expands its portfolio.