Business
Update on Flow Test
Update on Flow Test.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 1444P UK Oil & Gas Investments PLC 16 February 2016 \n\nUK Oil & Gas Investments PLC\n(\"UKOG\" or the \"Company\")\nUpdate on Flow Test\nHorse Hill-1 Oil Discovery, Weald Basin, UK\nSignificant Oil Flows to Surface from Lower Kimmeridge Limestone\n \nUK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) announces that Horse Hill Developments Limited has informed the Company that light, 40-degree API, sweet oil has flowed naturally to surface from an 80-foot zone within the Lower Kimmeridge limestone interval at a depth of approximately 900 metres below ground level. \nFlow commenced at around 10.00am GMT yesterday at an initial instantaneous rate in excess of 700 barrels per day using a 1-inch choke, in an approximate mix of 50:50 oil to water. The well was then choked back to 32/64 inches resulting in a steady early oil rate in excess of 463 barrels of oil per day over a further 7.3-hour period, in an approximate mix of over 99% oil and less than 1% water. \nThe Lower Kimmeridge flow period is planned to continue today at 0700 following an overnight shut-in from 1900 Monday. Upon completion, Phase 2 and Phase 3 operations will move to the shallower Upper Kimmeridge limestone and Portland sandstone zones at approximately 840 and 615 metres below ground level, respectively.\nThe HH-1 discovery well, the original exploration drilling phase originally completed at the end of 2014, is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. UKOG owns a 20.163% interest in PEDL137. \nStephen Sanderson, UKOG's Executive Chairman commented: \n\"This is a very significant event for the company and for oil and gas activity in the Weald basin of southern England. Importantly, tests so far show oil has flowed to the surface under its own pressure and has not, so far, required artificial lift.\nThe flow test, the first ever in the Lower Kimmeridge limestone within the Weald basin, provides proof that significant quantities of moveable oil exist within the Kimmeridge section of the well and can be brought to surface at excellent flow rates. In this case from a vertical well with minimal stimulation. \nWhile these flow rates are significant and in excess of management's expectations, it should be borne in mind that the planned future us...