Union Jack Oil shares rise on spudding of Crossroads well.

Union Jack Oil said on Wednesday that drilling had started at the Crossroads well in southern Oklahoma.

Union Jack Oil
06 May 2026 16:24:49

Source: Sharecast

The AIM-traded onshore hydrocarbon company said operator Reach Oil and Gas Company had informed it that the well was spudded on 5 May.

It said the drilling period was expected to be about 10 days, with results to be announced in due course.

Union Jack holds a 43% interest in the project.

The company said its share of drilling costs had been funded from existing cash resources.

At 1603 BST, shares in Union Jack Oil were up 17.72% at 4.65p.

Reporting by Josh White for Sharecast.com.

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