Union Jack Oil (AIM:UJO) shares were up 7.7%, trading at 4.3p, after the Crossroads well in Oklahoma was spudded on 5 May, the company said.
Reach Oil and Gas Company, the operator, informed the company that the drilling period is expected to be approximately 10 days and that shareholders will be informed of the results in due course, the company said.
Union Jack holds a 43% interest in the project and said its share of the drilling costs has been funded from existing cash resources.
