Union Jack Oil (AIM:UJO), a UK and USA focused onshore hydrocarbon production, development, exploration and investment company, said the Crossroads well in Garvin County, Oklahoma, in which it holds a 43% interest, was drilled to the target depth of 4,600 feet and encountered good hydrocarbon shows at several levels.
Electric logs and a petrophysical evaluation have identified several zones of interest from the Hoxbar down to the Basal McLish and flagged four intervals with production potential, the Hoxbar, Cisco, Middle McLish and Basal McLish.
"We look forward to the evaluation and test results from Crossroads which has excellent upside potential," said David Bramhill, Executive Chairman.
The operator, Reach Oil and Gas Company, will run and cement production casing and has informed Union Jack that evaluation and testing are scheduled to commence in mid‑June, the company said.
Union Jack noted nearby down‑dip wells have produced hydrocarbons, and it said it will report the evaluation and test results in due course.
