takeover – DRILL OR DROP?

New Union Jack board rejects Reabold offer

New directors of Union Jack Oil have unanimously rejected the takeover offer by Reabold Resources.

New directors of Union Jack Oil will give their views next week on the proposed takeover by Reabold Resources, according to a statement to investors.

Rathlin Energy, the company planning lower-volume fracking in East Yorkshire, has appointed a new board member from its majority owner.

Union Jack, which has interests at Wressle and West Newton, has recommended shareholders vote against a proposal to remove the board.

Shareholders opposed to the takeover of Union Jack Oil are seeking a general meeting to remove three directors from the board.

Reabold Resources announced this afternoon it had reached agreement on the takeover of Union Jack Oil.

Reabold Resources has offered to buy Union Jack Oil, both companies confirmed this morning.

Angus Energy, the operator of oil and gas sites at Balcombe, Brockham and Saltfleetby, has announced its annual accounts will be delayed.

The operator of the UK’s largest onshore gasfield is working with its lender on the potential takeover of production assets off the southern USA.

Egdon Resources, the company behind the UK’s newest onshore oil producer, announced this morning it has agreed to a takeover by Petrichor Partners.