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Union Jack Oil shares now seriously under par – it is in a doom loop

Tom Winnifrith
Wednesday 5 November 2025
Shareholders again forced the board of Union Jack Oil (UJO) to withdraw a plan, that is to say to allow it to issue warrants, and now the company faces another problem. And now, following news today of a duster of a well in the USA, its shares are now 3.3p-3.5p but par value is 5p. And that means it simply cannot issue new shares since its funding only ever comes from deeply discounted placings and you cannot issue shares below par.

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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