StockMarketWire.com - Oil company Union Jack Oil said it had acquired a further 30% stake in the British onshore licence holding the North Kelsey for £0.1 million.

The purchase from operator Egdon Resources had increased the company's stake in the asset to 50%, while reducing Egdon's to 50% also.

North Kelsey was a conventional oil prospect along trend from and analogous to the Wressle oil development, which lay around 15 kilometres to the northwest.



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