Business
Drilling Update
Drilling Update.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 5306I UK Oil & Gas Investments PLC 20 June 2017 \n\n \nUK Oil & Gas Investments PLC\n(\"UKOG\" or the \"Company\")\n \nDrilling Update at 100% Owned Broadford Bridge-1 Kimmeridge Exploration Well \nPEDL234 Licence, Weald Basin, UK\n \nUK Oil & Gas Investments PLC (London AIM and NEX: UKOG) announces that it has now commenced conventional coring operations at its 100% interest Broadford Bridge-1 (\"BB-1\") exploration well. The first coring point was called at a measured depth of 4013 feet (1223 metres) situated just above Kimmeridge Limestone 4 (\"KL4\"), the first reservoir target. Downhole natural gas levels increased steadily throughout the Kimmeridge section, with the onset of wet gas shows (butane and pentane) just above the coring point. When recovered to surface, the 100 ft cores will be transported to Aberdeen for initial rock sampling. Extensive geological, petrophysical and geo-mechanical analyses will be carried out in the UK and USA. BB-1 remains under budget and on schedule. \n \n \nAbout BB-1\n \nBB-1 is located near Billingshurst, West Sussex, within the 300 km² PEDL234 licence, in which the Company has a 100% interest via its ownership of the licence's operator, Kimmeridge Oil & Gas Limited. The well, an exploration step-out, is designed to penetrate four naturally fractured Kimmeridge Limestone units (KL1-KL4), the uppermost two units of which flowed at record rates in the Company's Horse Hill-1 discovery near Gatwick Airport. \n \nThe forward plan is to core the KL4 and KL3 target zones and then continue to drill 8½ diameter hole at a constant inclination of 54 degrees to vertical. Further core may be taken in KL2. The well azimuth, approximately north-northeast of the well site, is designed to be at approximately 90 degrees to the predicted orientation of open natural fractures in the KL1-KL4 reservoir section. The planned overall horizontal deviation of the well is approximately 1 km. The Kimmeridge Limestones are expected to be encountered at a drilled depth of approximately 1250-1700 metres, which equates to around 950-1200 metres vertically below surface. \n \n \nQualified Person's Statement\n \nStephen Sanderson, UKOG's Executive Chairman, who has over 35 years of relevant experience in the oil industry, ...