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SP Angel Union Jack Oil Research Note 8 October 2018

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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).

Our strategy is the rapid appraisal and exploitation of the assets currently owned. Simultaneous with this process, the Company’s management expect to continue to use their expertise to acquire further licence interests over areas where there is a short lead time between the acquisition of the interest and either exploration drilling or initial production from any oil or gas fields that may be discovered.

The Company currently has interests in six licences in the East Midlands Basin and one licence in the Weald Basin.

Union Jack remains in negotiation with several established companies to acquire licence interests in suitable projects.