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

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Union Jack Oil plc published this content on 26 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2020 06:11:16 UTC