On 9 October 2017 Union Jack Oil plc announced that it has acquired the entire onshore portfolio of Cairn subsidiary Nautical Petroleum Limited. Under the terms of the agreement Union Jack acquired 10% interest in PEDL 005(R) which contains the producing Keddington oil field in which it already had a 10% interest. It has acquired 10% interest in PEDL 339 containing the Louth prospect which has estimated Stock Tank Oil Initially in Place (STOIIP) of 5.5 MMbbl. It has taken a 16.67% interest in PEDL 203 which contains the Kirklington 3Z well which will be ready to produce if a decision for production is made and following some remediation work. And lastly it has acquired a 16.67% interest in PEDL 118 containing the decommissioned Dukes Wood field is located and where there is believed to be further unproduced resources. The acquisition has been valued at GBP 25,000 and Union Jack has assumed further financial costs for the acquired assets. Union Jack will receive production proceeds from Keddington from 1 September 2017. It is understood the deal completed in December 2017. The Keddington field is located along the east-west structural high on the southern margin of the Humber Basin known as the East Barkwith Ridge. The Saltfleetby field is also located along the ridge along with the Biscathorpe prospect. Recent 3D mapping over the Keddington field has indicated some remaining oil potential within structural closure. Keddington was discovered in 1998 by Morrison Middlefield Resources Ltd subsidiary Candecca Resources Ltd. Following completion of the deal interest in the Keddington field in PEDL 005(R) is held by Egdon Resources U.K. Limited (45% + operator), Terrain Energy Limited (35%) and Union Jack Oil plc (20%). Interest in PEDL 339 is held by Egdon Resources U.K. Limited (65% + operator), Union Jack Oil plc (20%) and Terrain Energy Limited (15%). Interest in PEDL 203 and PEDL 118 is held by Egdon Resources U.K. Limited (55.5% + operator), Terrain Energy Limited (27.78%) and Union Jack Oil plc (16.67%). 
UJO announces the acquisition of Nautical Petroleumâs interests onshore UK, namely 4 Egdon-operated blocks in the E. Midlands. Involved are 10% in PEDL 005 (Keddington field), 10% in PEDL 339 (Louth prospect), 16,67% in PEDL 203 (Kirklington shut-in field), and 16,67% in PEDL 118 (Dukes Wood shut-in field).