Contrary to what many believe, the success or failure of launching a new overseas venture or the reboot of an existing one is rarely due to lack of market demand or because of a poor quality product or service. It lies in the planning stages and the point at which a firm selects the local partner it will work with.
The Middle East, for example, is a vibrant and exciting region. But it has an entirely different approach and culture when it comes to commercial transactions one that can be a minefield for those who have not experienced it before.
Union Jack Oil (LON:UJO), The directors believe that significant opportunities exist to invest in, or acquire, a company or companies or businesses or assets in the hydrocarbon sector.
The investment strategy will have a heavy emphasis on acquiring late stage exploration projects where planning consent has been approved for drilling wells and to acquire minority production working interests onshore and/or offshore in the UK.