Union Jack Oil PLC (AIM:UJO) Final Results for the Year Ended 31 December 2017

[https://www.share-talk.com/share-news/union-jack-oil-plc-aimujo-final-results-for-the-year-ended-31-december-2017/](https://www.share-talk.com/share-news/union-jack-oil-plc-aimujo-final-results-for-the-year-ended-31-december-2017/)

**Operational Highlights**

á Portfolio expanded with selective, value accretive asset transactions through further interests in Wressle and Biscathorpe

á Proven resources and reserves increased

á Oil production profile expanded via acquisition of interests in Fiskerton Airfield and Keddington oilfields

á Prepared for the drilling of two significant conventional prospects Biscathorpe-2 and Holmwood-1

**Financial Highlights**

á Cash balance in excess of £2.0 million as at 30 April 2018

á £1.25 million (before expenses) raised in March 2018 to expand further the Company’s asset portfolio

á The Company remains debt free

**David Bramhill, Executive Chairman, commented:**

“Considerable progress was made in the year under review and in the period up to the signing of these financial statements.

I am enthusiastic in respect of the year ahead and I look forward to reporting progress with our current projects and new acquisitions during 2018 and beyond.

The objective of your Board remains to build a sustainable and profitable conventional onshore hydrocarbon production and development business.”