Union Jack Oil updates on timeline for Crossroads Well

Union Jack Oil PLC (AIM:UJO, OTCQB:UJOGF, FRA:1UJ0) said the rig for the Crossroads Well in Southern Oklahoma remains under maintenance and repair, pushing the next drilling timetable marker into early May.

The AIM-listed onshore hydrocarbon company said operator Reach Oil and Gas Company Inc had informed it that a spud date would be provided in early May.

Union Jack currently holds a 43% interest in the Crossroads project, and its share of the drilling costs has already been funded from existing cash resources.