Business
Horse Hill-1 Aggregate Flow Rate
Horse Hill-1 Aggregate Flow Rate.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 6987S Regency Mines PLC 21 March 2016 \n\n21 March 2016\n \nREGENCY MINES PLC\n(\"Regency\" or the \"Company\")\nHorse Hill-1 Oil Discovery, Weald Basin, UK\n \nLatest Test Confirms Highest Aggregate Flow Rate from a UK Onshore Discovery Well\n \nRegency Mines PLC announces, further to the announcement of 9th March, 2016, that Horse Hill Developments Limited (\"HHDL\") has informed the Company that the final Horse Hill 1 ('HH-1') Portland test flowed at a stable dry oil rate of 323 barrels of oil per day ('bopd'), double the previously reported rate. The final total aggregate stable dry oil flow rate from two Kimmeridge limestones plus the overlying Portland sandstone stands at 1688 bopd. Over the 30-90 hour flow periods from each of the 3 zones, no clear indication of any reservoir pressure depletion was observed. Further analysis of data is ongoing and will be reported shortly.\nWay Forward\nGiven these exceptional results, HHDL shareholder United Kingdom Oil and Gas PLC (AIM:UKOG) has commissioned Nutech to investigate a possible upgrade to the oil in place (\"OIP\") calculated within all 3 test zones together with engineering studies to examine possible flow rates from a horizontal well. Reservoir engineering analyses by Nutech and Xodus are also underway, and will likely result in an estimation of potential recoverable volumes. Results of these studies will be reported shortly.\nPreparation is now underway to obtain regulatory permissions to conduct extended production tests from all 3 zones at the site, followed by a horizontal sidetrack in the Kimmeridge and a possible new Portland development well.\nFlow Test Highlights\n· The final Portland test of 323 bopd, over an 8.5-hour, period is the highest stable dry oil flow rate from any onshore UK Portland well. On further testing with a larger pump the rate doubled from the previously reported stable rate of 168 bopd. The Portland was produced at maximum pump capacity and showed no clear indication of depletion. It is likely that the rate can be further increased using a higher capacity downhole pump during the next planned test.\n· Proof that the Kimmeridge limestones contain significant volumes of moveable light oil that can be flowed to surface at commercial rates\n· &n...