Union Jack Oil, a company specialising in onshore hydrocarbon production, development, and exploration in the UK and US, has entered into two additional farm-in agreements with Reach Oil & Gas Company, building upon the announcement made by the Company on 6 February 2024.
The initial agreement involves obtaining a 75% working interest in a well slated for drilling in Q3 2024. This well aims to assess the Footwall Fold Prospect within the Wilzetta Fault play (“the Prospect”) and an adjacent area of interest.
The subsequent agreement entails acquiring a 37.5% working interest in a 2D and 3D seismic acquisition programme. This programme aims to pinpoint additional drillable prospects along the Wilzetta Fault, situated in Pottawatomie and Lincoln Counties, Oklahoma, US.
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.