Union Jack Oil sells 7.5% Interest in PEDL143 (Holmwood) to UK Oil and GasChristian Fernsby ▼ | April 16, 2019
Union Jack Oil announced that it has conditionally agreed to sell its 7.5% interest in PEDL143 to UK Oil and Gas.
Acquisition The sale is subject to the execution of a sale and purchase agreement
bsequent approval by the Oil and Gas Authority.
The aggregate purchase price by UKOG for the Licence Interest is £112,500 and will be settled in cash that shall then be immediately, simultaneously and irrevocably applied by Union Jack for such number of ordinary shares in UKOG which is equal to £112,500 divided by 1.156 pence, being the 5 day volume weighted average price on 12 April 2019. ■