AIM-listed Union Jack Oil, a UK and USA focused onshore hydrocarbon production, development, exploration and investment company, has announced its audited results for the year ended 31 December 2025.
Copies of the Company's Annual Report will be posted to shareholders on or before 30 May 2026 and will be available on the Company's website: www.unionjackoil.com. The Company's AGM will be held in the George White Suite at The Bristol Hotel, Prince Street, Bristol BS1 4QF on Friday 26 June 2026 at 11.00 a.m.
Financial Highlights
• Gross profit of £691,001 (2024: £1,968,101)
• Net loss of £7,029,350, including impairment of Biscathorpe, North Kelsey and Sark (2024: £649,213 net profit)
• Basic loss per share 5.68 pence (2024: 0.61 pence earnings)
• Oil and gas revenues £2,489,507 (2024: £3,929,722)
• The Company continues to be debt free
David Bramhill, Executive Chairman, commented:
'The Board is confident the successful transition of focus to the USA will continue to drive further growth.
'In the UK, Union Jack will remain focused on the development of its flagship project, Wressle, where the Operator and Joint Venture partners have high-value appraisal and development programmes planned for the future, in particular the unlocking of the material proven reserves of oil and gas that remain in place within the Penistone Flags formation. The Board is confident that within the Wressle development there remains significant upside which will support the Company with revenues for at least another decade.
'I am confident that an increase in drilling, appraisal and development activity currently being evaluated in the pursuit of growth from our balanced UK and USA portfolios has the potential for notable value creation for shareholders. We believe ongoing heightened activity and the expected additional news-flow generated, combined with effective investor engagement on both sides of the Atlantic, will continue to attract the ongoing support of our existing shareholders and the attention of new investors, broadening the appeal of the Company to a wider audience.
'I take this opportunity to thank our shareholders for their continued support, as well as my co-directors and advisers, both in the UK and USA, all of whom continue to contribute towards the development and growth of the Company.'
Source: Union Jack Oil
