Posted on: January 18, 2021

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Gneiss Energy is pleased to announce that we have acted as Financial Adviser to Humber Oil & Gas Limited on the sale of a 15% economic interest in the Biscathorpe Project PEDL253 to Union Jack Oil plc (AIM:UJO) for £1,000,000 (a cash consideration of £500,000 upon OGA approval and, following receipt of various planning approvals, a further contingent payment of £500,000). Following completion of the acquisition Union Jack Oil plc will hold a 45% interest in PEDL253.

Our Oil & Gas team is delighted to already announce its 1st transaction of 2021.

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