Union Jack Oil Boosts US Presence with Oklahoma Project
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Union Jack Oil Boosts US Presence with Oklahoma Project

Union Jack Oil (GB:UJO) has released an update.

Union Jack Oil has expanded its US portfolio by acquiring a 45% working interest in the Rogers Enhanced Oil Recovery Project in Oklahoma, expecting to recover an additional 124,000 barrels of oil with a projected $7.5 million in gross revenues. The company will fund the acquisition and capital expenditures from its existing cash resources, anticipating an attractive IRR of nearly 80% and a payback period of around 18 months. Executive Chairman David Bramhill expressed confidence in the strategic benefits and potential for increased production and revenue synergies with existing operations.

For further insights into GB:UJO stock, check out TipRanks’ Stock Analysis page.

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