Union Jack Oil plc’s joint venture has had its first setback from a poor show in its fifth drilled well, Sark, in central Oklahoma, USA. PROGRAMME Operator and partner Reach Oil and Gas company plc drilled the well to a total depth of 5,391 feet, targeting an estimated 1,440,000 barrels of oil gross and a […]
Tag: Union Jack Oil plc
Union Jack investors to vote on bonus warrants
Union Jack Oil plc has proposed to issue bonus warrants to all of its shareholders, in connection with the £2 million fundraise during August 2025. MEETING The company said that, following shareholder feedback, it would issue one bonus warrant for every four ordinary shares of five pence each, held by shareholders at 6pm on 3 […]
Union Jack JV completes drilling Sark
Union Jack Oil plc has drilled the Sark well to a total depth of 5,391 feet at the central Oklahoma site in the USA. TEST Joint venture partner and operator Reach Oil and Gas Company Inc perforated the Prue interval from 4,586 to 4,600 ft. Union Jack said that the Prue interval was highlighted on […]
Union Jack JV spuds Sark
Union Jack Oil plc’s joint venture has spud the Sark well, targeting an estimated 1,440,000 barrels of oil gross and a further potential 1.5 million barrels, in central Oklahoma, USA. PARTNERS The company will use the proceeds from the July £2 million fundraise for the programme. The overall US$3m drilling programme comprises Sark and Wolverine-1 wells […]
Union Jack NED buys 122,000 shares
Union Jack Oil plc non-executive director Craig Howie has bought 122,000 ordinary shares of five pence each in the company at 5.075 pence per ordinary share. Following the 7 August purchase, Mr Howie holds 3,377,000 ordinary shares equivalent to 2.21% of Union Jack’s issued share capital. The company’s interests are located onshore UK, including the […]
West Newton JV looks to Bitcoin financing
The West Newton onshore gas project could be financed by installing gas-powered generators and cryptocurrency mining equipment, funded by natural gas produced at the East Yorkshire site. AI DATA The project estimate is gross recoverable 2C gas resources of almost 200 billion cubic feet, based on RPS’ independent assessment in 2022. Operator Rathlin Energy (UK) […]