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Union Jack Oil ( (GB:UJO) ) has provided an announcement.
Union Jack Oil plc has announced a farm-in agreement with Reach Oil and Gas Inc to acquire a 60% working interest in the Sark well in Oklahoma, USA. This project, which is expected to be drilled in early Q3 2025, aims to tap into an estimated 1,440,000 barrels of recoverable oil resources. The initiative is part of Union Jack’s strategy to expand its operations in the USA following recent successes and is expected to significantly enhance its portfolio and market positioning.
More about Union Jack Oil
Union Jack Oil plc is a UK and USA focused onshore hydrocarbon production, development, exploration, and investment company. The company is involved in various oil projects, aiming to expand its operations and portfolio in the USA, complementing its existing revenue streams from the UK.
Average Trading Volume: 165,172
Technical Sentiment Signal: Strong Sell
Current Market Cap: £9.8M
For an in-depth examination of UJO stock, go to TipRanks’ Overview page.