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The latest announcement is out from Union Jack Oil ( (GB:UJO) ).
Union Jack Oil plc announced an update on the Sark well in Central Oklahoma, where it holds a 53% interest. Despite encountering a valid structural closure, the Sark well’s production test failed to yield commercial hydrocarbons due to a breached trap. This unexpected result follows four successful discoveries in Oklahoma, but the company’s other US interests remain profitable, and it plans to continue its drilling program in the region.
More about Union Jack Oil
Union Jack Oil plc is a UK and USA focused onshore hydrocarbon company involved in production, development, exploration, and investment. The company holds interests in various projects, including the Sark well in Central Oklahoma, USA, and generates income from assets such as Moccasin, the Andrews Field, and Mineral Royalties.
Average Trading Volume: 585,744
Technical Sentiment Signal: Sell
Current Market Cap: £5.79M
See more data about UJO stock on TipRanks’ Stock Analysis page.