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Horse Hill-1, Further Update on Flow Test
Horse Hill-1, Further Update on Flow Test.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \nRNS Number : 2654P Evocutis PLC 17 February 2016 \n\n \nEvocutis plc\n \n(\"Evocutis\" or the \"Company\")\n \nFurther Update on Flow Test\nHorse Hill-1 Oil Discovery, Weald Basin, UK\nFurther Significant Oil Flows to Surface from Lower Kimmeridge Limestone\n \nFollowing the announcement on 16 February 2016, Evocutis (AIM: EVO, ISDX: EVO) announces that Horse Hill Developments Limited (\"HHDL\") has informed the Company that light, 40-degree API, sweet oil has continued to flow naturally to surface from an 80-foot zone within the Lower Kimmeridge limestone interval at a depth of approximately 900 metres below ground level. \nFlow re-commenced at around 07.45 am GMT yesterday at a steady oil rate in excess of 456 barrels of oil per day over a further 9.5-hour period using a smaller 28/64-inch choke in order to further stabilise the flow. Yesterday's flow consisted of dry oil with zero water.\nAs previously announced, Phase 2 and Phase 3 operations will move to the shallower Upper Kimmeridge limestone and Portland sandstone zones at approximately 840 and 615 metres below ground level, respectively, once the Lower Kimmeridge testing is completed.\nThe HH-1 well, drilled at the end of 2014, is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport, in which Evocutis owns a 1.3% interest. \nInterest in Horse Hill:\nThe HH-1 well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. Evocutis 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:\n \nEvocutis plc: &n...