Union Jack Oil plc has signed a farm-in agreement to acquire a 45% working interest in a well planned to drill test the West Bowlegs prospect in Seminole County, Oklahoma.
The company last month announced it was planning joint ventures with its newly appointed agent and adviser Reach Oil & Gas Inc.
The Andrews-1 well is planned to be drilled in early Q2 2024, with a 75% geological chance of success estimated by operator Reach.
Drilling for some ten days to a depth of 5,200ft will target the Hunton limestone, one of the main hydrocarbon reservoirs in Oklahoma.
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.