Union Jack Oil PLC (AIM:UJO, OTCQB:UJOGF, FRA:1UJ0) has flagged a fresh delay to the Crossroads well in southern Oklahoma, after operator Reach Oil and Gas Company Inc. told the company the spud date had slipped because of rig maintenance requirements.
The AIM-listed group said the operator remains confident the well will be spudded before the end of April.
The update marks a modest operational setback for a well that Union Jack had already updated investors on last week.
Importantly, Union Jack said its share of drilling costs has already been funded from existing cash resources, removing any immediate funding question around the short delay.