Union Jack has announced an equity raise of £2.0m at a price of 5.0p/share to fund the drilling of three new wells in Oklahoma over the coming months. These are all in a similar area to the company’s four existing successful Oklahoma wells, are all supported by 3D seismic data, and can all be brought onstream quickly on success, accelerating repayment of CAPEX outlay and contributing to company production and cash flows.
