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Horse Hill-1 Flow Test Portland Zone
Horse Hill-1 Flow Test Portland Zone.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 4737R Regency Mines PLC 09 March 2016 \n\nREGENCY MINES PLC\n(\"Regency\" or the \"Company\")\nFurther Update on Horse Hill-1 Flow Test\nPortland Zone Flows Oil at a Sustained Rate of 168 Barrels Per Day \n \n \n9 March 2016\n \nRegency Mines PLC announces that Horse Hill Developments Limited (\"HHDL\") has informed the Company that 37-degree API, light, sweet, dry (99-100% oil) crude has flowed to surface, via rod pumping, at an average stabilised rate of 168 barrels per day over a continuous 9-hour period. The flow is from an 103-ft aggregate perforated zone within the Upper Portland sandstone interval at a depth of approximately 615 metres below ground level. Maximum flow during this test period was restricted by the initial rod pump configuration. The flow test will now continue with a pump configuration designed to permit optimal flow over a longer flow period. \nThe Horse Hill-1 (\"HH-1\") well has now produced at a combined average stable rate of over 1,528 bopd from the two Kimmeridge and Upper Portland zones.\nAndrew Bell, Regency's Chairman commented: \"The well continues to perform above expectations. The results so far compare favourably with the nearest comparator, Brockham. We look forward to the results from the optimised pumping programme.\" \n \nBackground\n \nThe HH-1 well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. The exploration drilling phase of the HH-1 discovery well was originally completed at the end of 2014. Regency owns a 5% direct interest in HHDL. HHDL is a special purpose company that owns a 65% participating interest and operatorship of Licence PEDL137 and the adjacent Licence PEDL246 in the UK Weald Basin.\n \nThe only commercial Upper Portland oil production in the Weald Basin is from the nearby Brockham field, 8 km to the northwest of HH-1. The Brockham field was discovered by BP in 1987 and flowed 28-degree API oil on an extended well test in 1988, at a maximum stabilised rate on pump of 117 bopd. A subsequent extended well test in 2001, prior to commercial production, produced oil at an average pumped rate of approximately 140 bopd.\n \nQualified Person's Statement:\n \nThe technical information contained in this announcement has, for the purposes of the AIM...