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Moccasin 1-13 Well, Oklahoma, USA Update
Moccasin 1-13 Well, Oklahoma, USA Update.
About this update from Union Jack Oil Plc
[{"type":"text","content":"\n\n4 March 2025\nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/201\n as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed\nin accordance with the Company's obligations under Article 17 of MAR.\n \nUnion Jack Oil plc\n(\"Union Jack\" or the \"Company\")\nMoccasin 1-13 Well, Pottawatomie County, Oklahoma, USA Update\n \nUnion Jack Oil plc (AIM: UJO, OTCQB: UJOGF) a USA and UK focused onshore hydrocarbon production, development, exploration and investment company is pleased to announce, further to the RNS dated 25 February 2025, a positive update on the testing of the Moccasin 1-13 well (\"Moccasin\"), located in Pottawatomie County, Oklahoma, USA. Union Jack holds a 45% working interest in this well. Reach Oil & Gas Company Inc (\"Reach\"), the Operator, holds the remaining 55% working interest.\n \n• The primary objective, the 1st Wilcox formation was perforated, tested and confirmed as a significant oil producer, free flowing under natural pressure, with no formation water present and minimal associated gas\n• Initial open hole average flow rate over several test periods and a number of days was recorded at 25.88 barrels of oil per hour equating to 621 barrels of oil per day\n• Moccasin is currently being evaluated under highly restricted flow using various choke sizes and has produced over 140 barrels per day of light crude oil with an API of 32 degrees, under a 13/64 choke (approximately 0.2 of an inch). During this evaluation phase, Moccasin will be further restricted with a smaller choke to monitor pressure to determine the production rate for maximum ultimate oil recovery\n• The installation of permanent production facilities, comprising oil storage tanks, separator and flowlines is complete and oil sales have commenced\n• Moccasin confirms the trapping of hydrocarbons in multiple zones within the structure\n• Two other zones, the Red Fork and the Bartlesville Sandstones to be perforated and evaluated in due course\n• Moccasin drill and completion costs have already been funded from the Company's...