David Bramhill, executive chairman of Union Jack Oil PLC (LON:UJO) speaks to Proactive Investors after the company announced it has bought into the upcoming Holmwood exploration project, in the south east of England.
He says the oil and gas junior is 'really pleased to be involved' in the project, which is located close (about 12 kilometres) to the Horse Hill oil discovery and 'fits our strategy a treat'.
To earn its stake Union Jack will cover a portion of upcoming well costs, which are expected to cost around 480,000.
The project is 'on trend' and 'drill ready' he adds, noting drilling is expected to start in the fourth quarter of 2016 or the beginning of 2017.
Meet Eco (Atlantic) Oil & Gas Ltd and Bushveld Minerals Limited at our event, London, 13 June 2016. Register here ' Share Facebook if (typeof urlShortener == 'undefined') { var urlShortener = { generate: function(){ $.get('/swift/tinyUrl?url=http%3A%2F%2Fwww.proactiveinvestors.co.uk%2Fcompanies%2Fstocktube%2F5062%2Funion-jack-boss-really-pleased-with-holmwood-project-investment-5062.html', function( url ) { $('.twitter.tweet').attr('onclick', 'popUp = window.open(\'https://twitter.com/intent/tweet?url=' + url + '&text=%23UJO+Union+Jack+boss+%E2%80%9Creally+pleased%E2%80%9D+with+Holmwood+project+investment&via=proactive_uk\', \'popupwindow\', \'scrollbars=yes,width=800,height=400\');popUp.focus();return false'); }); } } urlShortener.generate(); } Twitter
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