Union Jack Oil Reports Brief Delay to Crossroads Well Spud in Oklahoma

Union Jack Oil ( (GB:UJO) ) just unveiled an update.

Union Jack Oil has reported a short delay to the planned spud date of the Crossroads well in Southern Oklahoma after the operator, Reach Oil and Gas Company Inc., required rig maintenance. The operator expects drilling to commence before the end of April 2026, limiting the operational impact of the postponement.

The company holds a 43% interest in the Crossroads well and has already funded its share of drilling costs from existing cash resources. This indicates that the project remains fully financed despite the schedule slip, and the minor delay is unlikely to materially affect Union Jack’s near-term liquidity or its strategy to expand its U.S. onshore footprint.

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 an AIM-listed company focused on onshore hydrocarbon production, development, exploration and investment in the UK and USA. The group targets conventional oil and gas projects and holds portfolio interests in drilling and production ventures, aiming to grow cash-generative assets within established North American and British basins.

Average Trading Volume: 1,204,759

Technical Sentiment Signal: Sell

Current Market Cap: £5.5M

Find detailed analytics on UJO stock on TipRanks’ Stock Analysis page.