Union Jack Oil announces spudding of first drilling venture with Reach in Oklahoma

Union Jack Oil plc (LON:UJO), a UK and USA focused onshore hydrocarbon production, development and exploration company, has announced, further to its announcement dated 6 February 2024, that the Company has been informed by the Operator, Reach Oil & Gas Company Inc, that a drilling contract has been signed with a local contractor, groundworks have been completed and a spud date on or around 20 March 2024 is anticipated in respect of the drilling of the Andrews-1-17 well to test the West Bowlegs Prospect, located in Seminole County, Oklahoma, USA.

Union Jack holds a 45% working interest in the Andrews-1-17 well.

·    Andrews-1-17 well has a geological chance of success estimated by the Operator to be 75%

·    Approximate ten-day drilling period to a depth of 5,200 feet

·    Completion time is swift; approximately eight days including perforating and flow-back if successful

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