Union Jack Oil PLC (AIM:UJO) told investors drilling is now underway at the Andrews-1-17 well, its first well under its new venture in Oklahoma, USA.
Drilling is expected to reach a target depth of 5,200 feet in around ten days, followed by eight days of completion work.
The company, in a statement, highlighted that the well targets the Hunton Limestone, a reservoir known for its conducive position to oil migration due to its proximity to the oil-prone source rock, the Woodford Shale.
It is being operated by partner Reach Oil & Gas Company, which is an accredited operator with experience in oil and gas production in Oklahoma.
Union Jack holds a 45% working interest in the well, and it is highlighted that the well has a geological chance of success estimated at 75%.