Union Jack Oil (GB:UJO) has released an update.
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Union Jack Oil PLC, a hydrocarbon production company, reported a profitable year in 2023 despite a decrease in oil prices and exchange rates, remaining debt-free and declaring a dividend payable in July 2024. The company’s Wressle project significantly upgraded reserves and contributed to a strong financial performance, while new ventures in the USA, including a commercial discovery in Oklahoma, indicate promising international growth. With a robust balance sheet and dynamic drilling campaigns planned, Union Jack Oil is positioned for continued success and shareholder value creation.
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