Union Jack Oil Flags Multiple Prospective Zones at Oklahoma Crossroads Well

Union Jack Oil ( (GB:UJO) ) has provided an update.

Union Jack Oil reported progress at its Crossroads Well in Garvin County, Oklahoma, where it holds a 43% interest in the onshore hydrocarbon prospect. The well was drilled on budget to a target depth of 4,600 feet, and electric logs show several zones of interest from the Hoxbar down to the Basal McLish intervals.

Based on petrophysical evaluation, four sandstone intervals with production potential – the Middle McLish, Basal McLish, Cisco and Hoxbar – will be tested, with casing to be run and cemented ahead of mid-June evaluation. Management highlighted the upside potential, noting that nearby down‑dip wells have already produced hydrocarbons, suggesting Crossroads could enhance Union Jack’s U.S. production profile if tests confirm commercial flows.

Spark’s Take on UJO Stock

According to Spark, TipRanks’ AI Analyst, UJO is a Neutral.

The score is primarily supported by a very strong, low-risk balance sheet (no debt) and sustained profitability since 2022, but is held back by 2024’s sharp profitability compression and negative/volatile free cash flow. Technicals show short-term strength but overbought momentum and a weaker longer-term trend, while valuation is difficult to support due to the negative P/E and missing dividend yield.

To see Spark’s full report on UJO stock, click here.

More about Union Jack Oil

Union Jack Oil is a London AIM-listed company focused on onshore hydrocarbon production, development and exploration, with assets in the UK and the U.S. The group also undertakes oil and gas investments, targeting conventional plays such as sandstones in established basins, and is gradually expanding its footprint in U.S. onshore fields like Oklahoma.

Average Trading Volume: 1,274,320

Technical Sentiment Signal: Sell

Current Market Cap: £7.18M

See more data about UJO stock on TipRanks’ Stock Analysis page.