Union Jack Oil Reports U.S. Expansion Success

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

Union Jack Oil PLC has announced a successful expansion into the U.S. market with Andrews 2-17 well declared a commercial discovery and the acquisition of a 45% interest in upcoming drilling programs at Taylor and Moccasin wells. The company has seen significant oil and gas production from the Andrews wells and is now aiming to optimize production rates. Financing for these developments has been sourced from the company’s existing cash reserves, indicating a solid financial position.

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