Business
Spudding of the ASX-1X exploration well, Egypt
Spudding of the ASX-1X exploration well, Egypt.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6731I\n United Oil & Gas PLC\n 16 August 2021\n \n \n \n \n United Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas\n \n \n \n \n \n 16 August 2021\n \n \n \n \n \n United Oil and Gas plc \n \n \n (\"United\" or \"the Company\")\n \n \n \n \n \n Spudding of the ASX-1X exploration well, Egypt \n \n \n \n \n \n United Oil & Gas PLC (AIM: \"UOG\"), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets is pleased to announce the spudding of the ASX-1X exploration well in the Abu Sennan Licence (the \"Licence\"), Egypt on 14 August. United holds a 22% working interest in the Licence, which is operated by Kuwait Energy Egypt. \n \n \n \n \n \n Highlights:\n \n \n \n · \n Drilling of the ASX-1X exploration well commenced on 14 August 2021\n \n \n \n \n · \n The well is located c. 7km to the north of the producing Al Jahraa field and will test a number of stacked reservoir targets\n \n \n \n \n · \n In a success-case scenario, the well is expected to take up to 54 days to drill, test and complete\n \n \n \n \n \n \n United's Chief Executive Officer, Brian Larkin commented: \n \n \n \n \n \n \"There is considerable exploration potential in the Abu Sennan licence, and it is great to be actively drilling our second exploration well this year to further unlock that potential. We are delighted that the ASX-1X exploration well has been spudded and look forward to updating shareholders once the well has reached the target reservoirs.\"\n \n \n \n \n \n ASX-1X Exploration Well\n \n \n ASX-1X is a vertical exploration well, located c. 7km to the north of the producing Al Jahraa Field. The well is targeting a similar structure to the nearby discovery that was recently made at ASD-1X, with primary targets in the Abu Roash C and E reservoirs, and secondary targets in the deeper Bahariya and shallower Khoman Formations.\n \n \n \n \n \n The ASX prospect had always ranked highly for United among the identified exploration targets in Abu Sennan, and with the de-risking provided by the positive result at ASD-1X only 11km away, and the short timeframe in which that discovery was put into production, the ASX-1X prospect has become a prioritised target. \n \n \n \n \n \n...