Union Jack Oil plc (LON:UJO), a UK focused onshore hydrocarbon production, development and exploration company, has noted the positive announcement made today by the Operator in respect of PEDL253.
Union Jack Oil states that “Egdon Resources plc has advised that the proceeds from the confidential settlement agreement between Egdon Resources U.K. Limited (acting on behalf of the PEDL253 joint venture partners) and Humber Oil & Gas Limited as announced on 24 June 2020 have been received.The joint parties to PEDL253 have therefore resolved the dispute arising under the JOA and look forward to co-operating in the future in the development of the licence.”
