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Portland Extended Flow Test ("EWT")
Portland Extended Flow Test ("EWT").
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 0573V UK Oil & Gas Investments PLC 18 July 2018 \n\n \n \nUK Oil & Gas Investments PLC\n(\"UKOG\" or the \"Company\")\n \nPortland Extended Flow Test (\"EWT\"): Well Clean-Up Phase Complete, Dry Oil Flows to Surface,\nHorse Hill-1 Oil Discovery, PEDL137, Weald Basin, UK\n \nHighlights:\n \n· Initial Portland well \"clean-up\" phase completed successfully\n· Light sweet crude oil (36 API) and associated solution gas flowed sustainably via pump and natural flow to surface over a 4-day period to date. Oil contains no metered water content (i.e. \"dry oil\")\n· Metered daily oil rates to date equal to or exceed 2016 values. Highest observed hourly rate equivalent to an implied daily rate of 352 barrels of oil per day (\"bopd\"). Corresponding metered solution gas volumes are up to an implied rate of 30,000 cu ft per day. \n· Flow has not yet been optimised for maximum sustainable flow rates\n· First tanker containing 214 barrels of dry oil exported to BP's Hamble oil terminal\n· Initial analysis indicates well productivity unaffected by 2 year shut-in period since 2016\n· Following a planned 24-hour shut in (i.e. pressure build-up test) the first of three planned Portland test sequences will commence\n \nUK Oil & Gas Investments PLC (London AIM: UKOG) is pleased to announce that it has been informed by Horse Hill Developments Ltd (\"HHDL\"), the operator of the Horse Hill-1 (\"HH-1\") Kimmeridge and Portland oil discovery, in which UKOG holds a 32.435% beneficial interest along with licence PEDL137, that the initial well \"clean-up\" phase of the Portland extended well test (\"EWT\") programme has been completed according to plan. Over the past four days, the well has delivered a sustained dry oil and solution gas flow to surface via pump and natural flow.\n \nObserved metered Portland flow rates to date are broadly equivalent to, or exceed, those recorded during the short duration 2016 test. The highest recorded hourly metered rate to date, equates to an implied daily rate of 352 bopd and was achieved using a 20/64\" choke, a notably more restricted setting than the 64/64\" choke used in 2016...