TIDMUJO

RNS Number : 6417T

Union Jack Oil PLC

15 November 2019

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

15 November 2019

Union Jack Oil plc

("Union Jack" or the "Company")

Response to Market Speculation

Union Jack Oil plc (AIM: UJO), a UK focused onshore conventional hydrocarbon production, development and exploration company, notes recent market speculation relating to a potential fundraising, pursuant to an equity placing with certain existing and new investors.

The Company confirms that it is in the process of taking market soundings from investors in regard to an equity placing of up to GBP5 million. It is intended that the majority of the proceeds will be used to fund further drilling activity at the Company's flagship asset, West Newton, including one vertical well and one horizontal well, and acquire and reprocess new seismic data at West Newton. A portion of the proceeds may also be allocated to drill a new side-track well at Biscathorpe.

Further announcements will be made in due course.

For further information, please contact:

 
Union Jack Oil plc             +44 (0)7801 540 358 
David Bramhill 
SP Angel Corporate Finance 
 LLP                           +44 (0)20 3470 0470 
Nominated Adviser and Broker 
Richard Morrison 
Richard Hail 
Stephen Wong 
Blytheweigh Communications 
 Limited                       +44 (0)20 7138 3204 
Financial PR 
Tim Blythe 
Megan Ray 
Jane Lenton 
Cassiopeia Services Ltd        +44 (0)7949 690 338 
Public Relations 
Stefania Barbaglio

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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November 15, 2019 11:33 ET (16:33 GMT)

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