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Union Jack

Transcript: Union Jack Oil Investment Thesis Investment Thesis Strong upside projected in the short run. Union Jack currently holds 3 licences, with a potential of over 70 million barrels of oil. (more than any other onshore UK firm) Currently holds a 15% interest in a 2m oil discovery awaiting production in early 2019. Barrel of Oil currently stands at $67 and is projected to rise. Business Overview Business overview 3 main licences West Newton- Estimated 189Bcf with drilling planned for Q1 2019. Biscathorpe- Calculated 2.1 million barrels of oil with scope for 41 million barrels, UJ own 22%. Wressle's-2 million barrel dicovery waiting production, UJ own 15%. Upstream oil firm-finds and produces crude oil . Recently completed a round of funding are earmarked to cover the group’s expanded drilling obligations for 2019 Industry overview Industry overview Oil activity levels are rising, driven by the North American market, as major projects are being approved. Oil Exploration is on the rise again to combat current supply issues however the industry is still facing multiple supply issues as global demand continues to rise steadily. While cleaner forms of energy such as hydrogen and renewables continue to advance, society at large is still enormously reliant on fossil fuels we are still dependent on oil for various products and will continue to be so in the forseable future. Financial Highlights Financial highlights • Cash balance in excess of £2.0 million as at 30 April 2018; • £1.25 million before expenses raised in March 2018 to expand further the Company’s asset portfolio. • The Company remains debt free, leading to greater confidence given rising interest rates Renewables-Increased demand for renwable energy poses a sever threat on future oil prices, esoecially with the UK opting for a 'diesel freee city' by 2030. Political headwinds- With continued uncertainty in the Uk emerging from brexit the future of the oil industry still remins unclear, however speculation of higher taxes on UK oil has emerged. Regulation-Although only 5% of UJ's oil is recieved from fracking many new enviromental regulations have severly threatened this modern technique. Risk Risk

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