Drilling operations begin at Union Jack Oil's Sark well

(Sharecast News) - Hydrocarbon development and exploration company Union Jack Oil said on Friday that it has been informed by the operator of its Sark well that it has now been spudded. Union Jack said Reach Oil and Gas had informed it that drilling operations had commenced at the Sark well, located in Central Oklahoma.

The AIM-listed group currently holds a 60% interest in the well.

Chairman David Bramhill said: "Following on the heels of the successful producing Moccasin well, the high-impact Sark well is of major importance to Union Jack, both financially and operationally.

"I look forward to reporting on the results of Sark as soon as information becomes available".

As of 0900 BST, Union Jack shares were up 3.0% at 5.15p.



Reporting by Iain Gilbert at Sharecast.com