Union Jack Oil, a UK and USA focused onshore hydrocarbon, production, development, exploration and investment company, announces a positive update on the Crossroads Well, located in Garvin County, Oklahoma USA. Union Jack holds a 43% interest in this well.  

• Crossroads drilled on budget to Target Depth of 4,600 feet 
• Electric logs have been acquired and several zones of interest and test intervals have been identified 
• Production casing will be run and cemented 
• The technical team at Reach Oil and Gas Company Inc., the Operator, has informed Union Jack that the evaluation and testing will begin in mid-June 

The Crossroads well encountered good hydrocarbon shows at several levels from the Hoxbar down to the Basal McLish intervals. 

Based on a petrophysical evaluation of the downhole logs, four intervals with production potential will be tested. These intervals are the Middle McLish, Basal McLish, Cisco and Hoxbar Sandstones. 

David Bramhill, Executive Chairman of Union Jack, commented: 
“We look forward to the evaluation and test results from Crossroads which has excellent upside potential. Nearby wells that are down-dip from the Crossroads location have produced hydrocarbons.  

“We look forward to reporting on evaluation and test results from Crossroads in due course.” 

Union Jack Oil plc announced a disappointing update on its Sark well in Central Oklahoma, USA, where it holds a 53% interest. The well, drilled to a Total Depth of 5,391 feet, initially indicated the Prue interval as hydrocarbon bearing. However, a subsequent 30-day production test failed to yield commercial hydrocarbons, with post-well analysis confirming the encountered structural closure was breached. This unexpected result could negatively impact investor sentiment regarding this specific project. Despite this setback, the company highlighted that its other US interests, including income from Moccasin, the Andrews Field, and Mineral Royalties, remain profitable, and it intends to continue its Oklahoma drilling programme.

Temporary production facilities were installed and a 30-day test programme was undertaken. The production test of the Prue Sandstone failed to produce commercial hydrocarbons.

Post well analysis indicates the Sark well encountered a valid structural closure, however, the trap was subsequently breached.

David Bramhill, Executive Chairman of Union Jack, commented: 
"Following the drilling of four successful discoveries in Oklahoma to date, this is an unexpected and disappointing result. Our US interests, with income from Moccasin, the Andrews Field and Mineral Royalties, continue to be profitable and we look forward to continuing our Oklahoma drilling programme."

KeyFacts Energy: Union Jack Oil US company profile