Business
Operational Update
Operational Update.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n UK Oil & Gas PLC\n \n \n \n \n (\"UKOG\" or the \"Company\")\n \n \n \n \n \n \n \n \n \n Operational Update\n \n \n \n \n \n \n \n \n UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce the following operational updates in respect of its key Turkiye and Portland Hydrogen/Energy Hub projects, together with an outline of its near-term forward strategy. \n \n \n \n \n \n \n Turkiye Resan Licence (UKOG 50% interest):\n \n \n \n \n \n \n Further to the Company's announcement of 30th June 2022, continued examination of the new phase 1 seismic data has revealed a further potentially significant undrilled geological structure to the south of the Basur-1 oil discovery. The feature, currently known as Prospect B, shows the same geological structural style as the Basur discovery, bounded on its northern extent by a significant back-thrust fault. It appears to be of similar size to Basur upon first review. Further phase 2 seismic lines to the west will be required to confirm its size, prospective resource hydrocarbon volume, and to help define any future exploration well location. A revised top reservoir structure map and seismic line illustrating the new feature will be made available on the Company's website.\n \n \n \n \n \n Additional recent oil sampling has also been undertaken by the Resan licence's operator, Aladdin Middle East (\"AME\"), at the live light 42˚ API oil seep, located to the north of the Basur oil discovery. The oil charge to the seep appears to be continuous as similar quantities of crude have now been recovered from the same shallow seismic shot holes at multiple sampling events over a one-month period. It is anticipated that a new Phase 2 seismic line will pass over the seep to aid identification of whether it derives from a previously unrecognised deeper Mardin/Garzan age oil accumulation.\n \n \n \n \n \n To help progress Basur towards drilling, members of UKOG's technical team plan to spend next week in the field, scouting a potential new Basur-4 location, tying Basur seismic work into surface geology and investigating whether Prospect B has any surface geological expression that can help define its extent.\n \n \n \n \n \n \n Portland Hydrogen/Energy Hub (UKOG 100%)\n \n \n \n \n \n \n \n \n Further to recent discussions with U...