Union Jack Oil (GB:UJO) has released an update.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Union Jack Oil has announced the commencement of drilling at the Andrews 2-17 well in Seminole County, Oklahoma, with a promising 80% geological chance of success. The well, in which Union Jack holds a 45% interest, is expected to be drilled and completed within a swift eight days at an anticipated cost of $340,000, funded from existing cash resources. On successful completion, the well is set to bolster Union Jack’s portfolio with rapid production timelines and favorable project economics by sharing facilities with an adjacent productive well.
For further insights into GB:UJO stock, check out TipRanks’ Stock Analysis page.