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4 stories mentioning UJO.L

Every FINWIRES story that references UJO.L, newest first.

Equities

Reabold Resources Confirms All-share Takeover Offer for Union Jack Oil

Reabold Resources (RBD.L) confirmed talks for an all-share takeover offer for oil and gas company Union Jack Oil (UJO.L).The oil and gas sector-focused investor said Monday that a potential deal would create a group with "greater scale, superior access to capital and other compelling operating efficiencies."Under takeover rules, the bidder has until July 13 to announce a firm offer intention or walk away.

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Equities

Union Jack Oil Confirms Takeover Proposal from Reabold Resources

Union Jack Oil (UJO.L) received a nonbinding indicative offer from oil and gas projects investor Reabold Resources (RBD.L) for a possible all-share proposal.The British oil and gas company said Monday it reviewed the potential offer for its entire share capital and provided due diligence access to Reabold.It noted that there is no certainty that the offer will proceed.

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Equities

Union Jack Oil Secures GBP1 Million Loan from Egdon Resources

Union Jack Oil (UJO.L) said Monday it received a secured term loan worth 1 million pounds sterling from Egdon Resources UK.The 24-month loan facility carries 5% annual interest and 8% default interest and is secured against its interests in PEDL180 and PEDL182 at the Wressle oilfield.Proceeds will be used for general working capital. Repayment terms require the hydrocarbon production, development, and exploration company to pay 60% of monthly operating free cash flow from Wressle, with all principal and accrued interest due at maturity.Egdon also has a right of first refusal and matching rights over any sale of the PEDL180 and PEDL182 interests.

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Equities

Union Jack Oil Flags Delay in Well Spudding at US Project

Union Jack Oil (UJO.L) said the spudding for the Crossroads well in Oklahoma, US, will be delayed slightly to the end of April, according to operator Reach Oil and Gas.The British oil and gas company said Thursday that the delay was due to rig maintenance requirements. Union Jack Oil holds a 43% stake in the project and has funded its share of drilling costs.

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