Union Jack Oil PLC (AIM:UJO, OTCQB:UJOGF, FRA:1UJ0) told investors that its Crossroads well in Garvin County, Oklahoma, has been drilled on budget to a target depth of 4,600 feet, with evaluation and testing scheduled to begin in mid-June.
The AIM-listed onshore hydrocarbons company, which has a 43% interest in the well, said electric logs have been acquired and several zones of interest and test intervals identified. Production casing will now be run and cemented ahead of the testing programme, which will be led by operator Reach Oil and Gas Company Inc.
Union Jack said Crossroads encountered good hydrocarbon shows at several levels from the Hoxbar down to the Basal McLish intervals. A petrophysical evaluation of the downhole logs has selected four intervals with production potential for testing: the Middle McLish, Basal McLish, Cisco and Hoxbar Sandstones.
Executive chairman David Bramhill said the company is looking forward to evaluation and test results from a well he said has “excellent upside potential”, noting that nearby wells down-dip from Crossroads have produced hydrocarbons.