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Union Jack Oil plc (LON:UJO) announces audited results for 2023. Strong operational and financial highlights show resilience and growth opportunities in UK and USA. CEO David Bramhill remains optimistic about future prospects.

Union Jack Oil Final Dividend for 2023, Reflecting Strong Cash Flow and Positive Business Outlook

Union Jack Oil, a UK and USA focused onshore hydrocarbon production, development, exploration and investment company, has announced its audited results for the year ended 31 December 2023. The Companys solid 2023 financial results confirm its resilience, both financially and operationally.

Union Jack Oil plc has signed two farm-in agreements with Reach Oil & Gas Company Inc. to acquire working interests in drilling and seismic programs in Oklahoma, USA. The first agreement involves a high-impact well to test the Wilzetta Fault play, while the second agreement focuses on identifying additional drillable prospects along the Wilzetta Fault. The company expects to see the first well drilled in Q2 2024.

Europa cited delays in production scale-up in the Wressle field.

Europa Oil increased the 2P estimate for the Wressle field in the United Kingdom by 263 percent.

Union Jack Oil (UJO) Shares Positive Wressle CPR update, Analyst Comments

Union Jack Oil Wressle CPR Shows 263% Increase in 2P Reserves

Union Jack Oil PLC and Europa Oil & Gas Holdings PLC on Tuesday said an independent assessment has increased the oil reserves of their licences at the Wressle field onshore in Lincolnshire,...

Union Jack Oil report a positive set of Half Yearly results