Union Jack Oil plc has signed further two farm-ins, following the West Bowlegs deal, for projects in Oklahoma, USA.
The first is to acquire a 75% working interest in a well planned to be drilled in a high impcat well in Q3 2024, to test the Footwall Fold prospect in the Wilzetta Fault play and in an area of associated interest.
Drilling to a depth of 6,000ft will also test the deeper structure beneath the main target. Estimated recoverable oil is in excess of 200,000 barrels with a geological success chance of 35%.
Union Jack said that the Wilzetta Fault plays were the site of numerous oilfields across central Oklahoma with nearby analogous production.
Union Jack Oil plc (LON:UJO) is an onshore oil and gas exploration company with a focus on drilling, development and investment opportunities in the United Kingdom hydrocarbon sector.