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Lidsey Oil Field Update
Lidsey Oil Field Update.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 2355L UK Oil & Gas Investments PLC 02 July 2014 \n \n\n \nFor Immediate Release\n2 July 2014\n \nUK Oil & Gas Investments PLC\n(\"UKOG\" or the \"Company\")\n \nLidsey Oil Field Update\n \nUK Oil & Gas Investments PLC (AIM: UKOG) announces a 230% increase in oil production from the conventional Lidsey Oil Field (\"Lidsey\"), near Bognor Regis south of London, from 34 barrels of oil per day (\"bopd\") in May 2014 to a current rate of 113 bopd of 34 API oil after a successful recompletion programme on the Lidsey-1 well.\n \nThe operators of Lidsey, Angus Energy Limited (\"Angus Energy\") have advised that an 80-foot section of the Greater Oolite reservoir was perforated using tubing conveyed (TCP) guns, at 4 perforations per foot, using Paradigm Connect charges between 3,271 feet and 3,351 feet at 16:00 hours on Sunday, 22 June 2014. Of the 80 feet of perforations shot, 19 feet were opening up new reservoir and 61 feet were re-perforations.\n \nThe Lidsey-1 well was put back to pump at half speed to clean-up the well at 15:30 hours on Wednesday, 25 June 2014. After an initial restricted 5 day clean-up of programme, the Lidsey-1 well produced at an average restricted rate of 47 bopd with the pump jack running at half speed. On 30 June 2014, the pump was increased to full speed resulting in a higher production rate of 113 bopd.\n \nDavid Lenigas, UKOG's Chairman commented:\n \n\"This is an excellent result for Lidsey. Each phase of well workovers on the Lidsey-1 well has been successful since the workover programmes started on the field at the end of last year. UKOG looks forward to the drilling of the proposed new Lidsey-2 well later this year, which is designed to access the crest of the Greater Oolite reservoir and the majority of Lidsey's Oil in-Place.\"\n \n\"UKOG also looks forward to a very active programme over the coming 6 months with our partners Angus Energy here in the UK, especially with the drilling of the Horse Hill-1 well near Gatwick later this month and the drilling of the proposed Brockham side-track well in the same geographical area once final approvals have been granted.\"\n \n \nLidsey Oil Field (70% owned and operated by Angus Energy):\n(UKOG owns 6% of Angus Energy)\n \nThe Lidsey Oil Field (\"Lidsey\"...