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Independent Report and Rig Booked, Brockham UK
Independent Report and Rig Booked, Brockham UK.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 2295B UK Oil & Gas Investments PLC 28 February 2014 \n \n\n28 February, 2014\nUK Oil & Gas Investments PLC\n(\"UKOG\" or the \"Company\")\n \nIndependent Report, Brockham Oil Field, UK\nRig booked for Brockham side track well.\n \nUKOG (AIM: UKOG) today announces the independent evaluation report by RPS Energy Consultants Limited (\"RPS\") of the summary of in place hydrocarbon volumes on the Brockham Field in the Weald Basin, UK for the Field's 80% owner and operator Angus Energy Ltd (\"Angus Energy\"). UKOG has an interest in the Brockham Field by way of a 6% ownership in UK conventional oil producer Angus Energy Limited (\"Angus Energy\"). \nThe gross in-place volumes for the Brockham Field have been calculated at:\n· P90 (Low Case) - 1.89 million barrels (\"MMstb\")\n· P50 (Best Case) - 3.62 MMstb\n· P10 (High Case) - 5.83 MMstb\nAngus Energy commissioned RPS Energy to prepare an updated independent evaluation of the Brockham Field to assist with preparation for the proposed new Brockham side track well scheduled to be spudded in about one month's time. The PW Wells Services 475 rig has been contracted for the side track well which is scheduled to mobilise to site in late March 2014.\nDavid Lenigas, the Company's Chairman, commented:\n\"The Company looks forward to shortly the drilling of the side track well at Brockham, which is targeted to intersect the crestal part of the structure and is planned to be completed as a production well.\"\n \nFull extract from the RPS Report date 27 February 2014:\n \nEVALUATION OF BROCKHAM FIELD, ONSHORE UK\nIn response to Angus Energy Limited's request of February 2014and the Letter of Engagement dated 5th February 2014 with Angus Energy Limited (the \"Agreement\"), RPS Energy Consultants Limited (\"RPS\") is currently undertaking and will shortly complete an independent evaluation of liquid hydrocarbons in Licence PL235 in the United Kingdom (the \"Properties\") in which Angus Energy Limited (\"Angus\") has an interest. \nThe evaluation is based on data and information available up to February 28th 2014. \nThe Services have been performed by an RPS team of professional petroleum engineers, geoscientists and economists and is b...