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Union Jack Oil ( (GB:UJO) ) has issued an update.
Union Jack Oil plc announced a successful update on the Moccasin 1-13 well in Oklahoma, confirming it as a significant oil producer with no formation water and minimal associated gas. The well has been declared a commercial discovery, with initial flow rates promising substantial revenue contributions. The company has completed the installation of permanent production facilities and commenced oil sales. This success opens new opportunities for Union Jack in Oklahoma, with plans to explore similar structures in the future.
More about Union Jack Oil
Union Jack Oil plc is a company focused on onshore hydrocarbon production, development, exploration, and investment in the USA and UK. It holds significant interests in various oil wells, including a 45% working interest in the Moccasin 1-13 well in Oklahoma.
YTD Price Performance: 35.14%
Average Trading Volume: 280,553
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £13.32M
See more insights into UJO stock on TipRanks’ Stock Analysis page.