Drilling Update - Andrews-1-17 Well Spudded

Union Jack Oil plc (AIM: UJO), a UK and USA focused onshore hydrocarbon production, development and exploration company is pleased to announce, further to its announcement dated 11 March 2024, that the Company has been informed by the Operator, Reach Oil & Gas Company Inc ("Reach"), that the drilling rig is on location and that the Andrews-1-17 well has now spudded.

The Andrews-1-17 well will test the West Bowlegs Prospect, located in Seminole County, Oklahoma, USA in which Union Jack hold a 45% working interest:

• Andrews-1-17 well has a geological chance of success estimated by the Operator to be 75%
• Approximate ten-day drilling period to a depth of 5,200 feet
• Completion time is swift, estimated at approximately a further eight days including perforating and flow-back, if successful

A further update will be given following the Andrews-1-17 well reaching its intended total depth of 5,200 feet, prior to the commencement of wireline logging operations, completion, perforation and testing, if successful.

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Background to Andrews-1-17 Well and the West Bowlegs Prospect

The target for this well is the Hunton Limestone, one of the main hydrocarbon reservoirs in Oklahoma. The Hunton Limestone is unconformably overlain by the main oil-prone source rock, the Woodford Shale and is in an excellent position for the migration of oil.

Reach is an accredited operator in the USA, owning and operating oil and gas production facilities in Seminole and Pottawatomie Counties in Oklahoma. All prospects are generated by Reach which owns modern seismic equipment, supplied by a UK based company Stryde Limited.