Union Jack Oil raised £1.25
million through a subscription of 1.5
billion shares. The placing includes
1.3 billion new ordinary shares and
a subscription for an
additional 158.8 million
new ordinary shares. Proceeds will be
used to fund drilling obligations. The
company said it signed an MOU to coinvest
in UK onshore opportunities with
Humber Oil & Gas Ltd, whose sold director
Frazer Lang owns 397 million ordinary
shares, or 9.2%, of Union......
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