Business
Further Update on Horse Hill-1 Flow Test
Further Update on Horse Hill-1 Flow Test.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \nRNS Number : 4714R Evocutis PLC 09 March 2016 \n\n \nEvocutis plc\n \n(\"Evocutis\" or the \"Company\")\n \nFurther Update on Horse Hill-1 Flow Test\nPortland Zone Flows Oil at a Sustained Rate of 168 Barrels Per Day\n \nEvocutis (AIM: EVO, ISDX: EVO) announces that Horse Hill Developments Limited (\"HHDL\") 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 a 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. \n \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.\n \nHorse Hill-1 Discovery Well and Licence\nThe exploration drilling phase of the HH-1 discovery well was originally completed at the end of 2014. The well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. Evocutis owns a 1.3% interest in PEDL137.\n \nHamish Harris, Executive Chairman, commented:\n\"These results provide additional validation to the board's decision to invest in this project and we remain very positive pending further news\"\n \nInterest in Horse Hill\nEvocutis owns a 2% 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 \nQualified Person's Statement:\nStephen Sanderson, who has over 35 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Sanderson is a Fellow of the Geological Society of London and is an active member of the American Association of Petroleum Geologists.\n \n \nFor further information please contact:\nEvocutis plc: &n...