---
title: "Union Jack Oil plc (AIM:UJO) Capital Reduction Update"
publisher: "Share Talk"
author: "sharetalk"
published: "2022-06-29T06:36:51+00:00"
modified: "2022-06-29T06:39:32+00:00"
date: 2022-06-29
canonical: "https://www.share-talk.com/union-jack-oil-plc-aimujo-capital-reduction-update/"
category: "Energy"
categories: ["Energy"]
tags: ["3D seismic data", "Biscathorpe", "Biscathorpe-2", "Claymore", "David Bramhill", "development", "EDR", "Egdon Resources", "Egdon Resources U.K", "EOG", "Europa Oil & Gas", "Fiskerton Airfield", "gas", "Graham Bull", "Humber Basin", "Humber Oil & Gas Limited", "HYDROCARBON", "Keddington", "North Sea", "oil", "oilfield", "onshore", "onshore hydrocarbon", "PEDL253 licence", "Piper", "production", "Scapa", "Share Talk", "side-track", "South Humber Basin", "UJO", "UKOOG", "Union Jack Oil", "Union Jack Oil plc", "Weald Basin", "West Newton", "West Newton A-2", "Wressle", "Wressle-1"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# Union Jack Oil plc (AIM:UJO) Capital Reduction Update

**Published:** June 29, 2022
**Author:** sharetalk
**Categories:** Energy
**Tags:** 3D seismic data, Biscathorpe, Biscathorpe-2, Claymore, David Bramhill, development, EDR, Egdon Resources, Egdon Resources U.K, EOG, Europa Oil & Gas, Fiskerton Airfield, gas, Graham Bull, Humber Basin, Humber Oil & Gas Limited, HYDROCARBON, Keddington, North Sea, oil, oilfield, onshore, onshore hydrocarbon, PEDL253 licence, Piper, production, Scapa, Share Talk, side-track, South Humber Basin, UJO, UKOOG, Union Jack Oil, Union Jack Oil plc, Weald Basin, West Newton, West Newton A-2, Wressle, Wressle-1
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2023/11/Stencil-Google-Chrome-2023-04-19-at-2.47.43-PM.jpeg?fit=1231%2C615&quality=89&ssl=1)

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**Union Jack Oil plc (AIM: UJO)** a UK focused onshore hydrocarbon production, development and exploration company is pleased to announce that following the passing of a special resolution of the Company at its Annual General Meeting on 23 June 2022, the Company is now pursuing a reduction of capital exercise through the court procedure (“Capital Reduction”).

The Capital Reduction involves an application to the High Court of Justice, followed by two court hearings, where the Courts will consider whether any creditors will be prejudiced by the Capital Reduction.

Once the Capital Reduction is complete and a positive result obtained, the Company will issue a further announcement outlining details of a share buy back scheme or the payment of a maiden dividend.

For further information, please contact

Union Jack Oil plc

[info@unionjackoil.com](mailto:info@unionjackoil.com)

David Bramhill

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