Union Jack Oil plc (LSE:UJO) has provided an update on the Sark well in Central Oklahoma, where it holds a 53% working interest. Although the well encountered a valid structural closure, production testing did not result in commercially viable hydrocarbons due to a breached trap. The outcome marks a temporary setback following four prior successful discoveries in the region. Despite this, Union Jack Oil’s other US operations remain profitable, and the company intends to proceed with its ongoing drilling program across Oklahoma.
More about Union Jack Oil plc
Union Jack Oil plc is an onshore oil and gas company with operations and investments across the UK and USA. The firm’s portfolio spans production, development, and exploration projects, including the Sark well in Central Oklahoma. Its income-generating assets include interests in the Moccasin, Andrews Field, and Mineral Royalties projects, reflecting a diversified approach to hydrocarbon development.
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