PEDL253 Settlement Received from Humber Oil & Gas

Market Abuse Regulation (MAR) Disclosure  
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement

26 August 2020

Union Jack Oil plc

("Union Jack" or the "Company")

PEDL253 Settlement Received from Humber Oil & Gas

Union Jack Oil plc (AIM: UJO), a UK focused onshore hydrocarbon production, development and exploration company notes the positive announcement made today by the Operator in respect of PEDL253.

"Egdon Resources plc (AIM: EDR, "Egdon") is pleased to advise 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".

For further information, please contact:

Union Jack Oil plc                                                         +44 (0)78 0154 0358

David Bramhill

SP Angel Corporate Finance LLP                                +44 (0)20 3470 0470

Nominated Adviser and Broker

Richard Morrison

Richard Hail

Caroline Rowe

Cassiopeia Services Ltd                                                 +44 (0)7949 690 338

Public Relations

Stefania Barbaglio