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Podere Maiar drilling results
Podere Maiar drilling results.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 4847Y United Oil & Gas PLC 06 December 2017 \n\n 6th December 2017 \n \nUnited Oil & Gas Plc \n (\"UOG\", \"United\" or the \"Company\")\nPodere Maiar drilling results\n \nUnited Oil & Gas Plc (\"UOG\", \"United\" or the \"Company\"), the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce positive log results from the drilling of the Podere Maiar 1 (\"PM1\") well on the Selva Gas Field in the Podere Gallina licence, onshore Italy.\n \nPM1 was successfully drilled to a total depth of 1330m TVD (1307m TVDSS) ahead of schedule and on budget.\n \nDownhole log results from Schlumberger confirm a gross gas pay of 53m. The top of the reservoir was encountered at 1245m TVD (1223m TVDSS) some 12m above the level of any previous production wells, including the nearby Selva 6 well. \n \nThe two main sand levels show high resistivity in the logs, indicating a thick gas-bearing reservoir\n \nUnited Oil & Gas (20%), and its joint venture partners Po Valley Energy (64%; operator) and Prospex Oil and Gas (17%) have agreed to proceed to case, perforate and complete the well and install downhole production equipment.\n \nWell completion is targeted to be finished mid-December with flow-testing on a rigless basis planned for early January.\n \nBrian Larkin, United CEO, commented: \n \n\"We are very pleased with these initial well results, which confirm the significant potential in the Selva Field. We are looking forward to successfully completing the well operations, and commencing the rigless testin...