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EWT Update, Portland & Kimmeridge Oil Discovery
EWT Update, Portland & Kimmeridge Oil Discovery.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 4007H UK Oil & Gas PLC 15 November 2018 \n\nUK Oil & Gas PLC\n(\"UKOG\" or the \"Company\")\n \nExtended Well Test (\"EWT\") Hits Significant Production Milestone, KL3 Exceeds 10,000 Barrels\nHorse Hill-1 (\"HH-1\") Portland and Kimmeridge Oil Discovery, Weald Basin, UK \n \nUK Oil & Gas PLC (London AIM: UKOG) announces that Horse Hill Developments Ltd (\"HHDL\"), a UKOG subsidiary company and the operator of the HH-1 Kimmeridge Limestone and conventional Portland Sandstone oil discovery, has informed the Company that total oil production from the 2018 EWT has reached 13,920 barrels (\"bbl\") approximately 2.21 million litres, with gross oil sales revenues of approximately US$1.1 million.\n \n2018 HH-1 oil production comprises 10,248 bbl (1.63 million litres) of 40° API oil from the Kimmeridge Limestone 3 (\"KL3\") and 3,672 bbl (c. 584,000 litres) of 35° API oil from the Portland. No formation water was returned to surface from either the KL3 or Portland. The KL4 EWT programme is planned to commence shortly following the ongoing final KL3 pressure build up test. HH-1 is located in licence PEDL137 in which UKOG holds a 46.735% beneficial interest. Key points and further details are summarised below.\n \n2018 EWT Milestones to date:\n \n· Approximately US$1.1 million gross 2018 HH-1 oil sales achieved to date from the KL3 and Portland (this figure excludes the KL4 oil reservoir, which will be tested shortly).\n· 13,920 bbl (2.21 million litres) total KL3 and Portland production as of 0700 14 November.\n· 10,248 bbl (1.63 million litres) of 40° API produced solely from the KL3 as of 0700 14 November.\n· 15,860 bbl (2.52 million litres) aggregate total oil production from the 2016 and 2018 tests.\n \nKL3 EWT Update:\n \n· 10,248 bbl of KL3 oil was produced over 30 days of sustained daily natural and pumped flow from an 83 ft perforated interval. The programme included 9 days of pressure build-ups (or \"shut-ins\") and downhole sampling. Production was achieved via a variety of choke sizes whilst maintaining stable bottom hole pressures. No formation water was returned to surface; however, small intermittent slugs of completion brine were recorded. \n·  ...