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Update on ASH-2 Well and Acquisition Timetable
Update on ASH-2 Well and Acquisition Timetable.
About this update from United Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 5144A United Oil & Gas PLC 22 January 2020 \n\nUnited Oil & Gas PLC / Index: AIM / Epic: UOG / Sector: Oil & Gas\n22 January 2020\nUnited Oil & Gas PLC ('United' or 'UOG' or 'the Company')\nUpdate on Abu Sennan ASH-2 Well and Rockhopper Acquisition Timetable\n \nUnited Oil & Gas PLC (AIM: \"UOG\"), the AIM traded oil and gas exploration and development company, provides the following update on the proposed acquisition of Rockhopper Egypt Pty Ltd ('the Acquisition') from Rockhopper Exploration Plc ('Rockhopper'). Rockhopper Egypt holds a 22% non-operating interest in the producing Abu Sennan concession, onshore Egypt (see announcements of 23 July 2019 and 18 December 2019 for further details). This update provides further detail regarding the ASH-2 well ('ASH-2' or 'the Well') which was recently drilled at Abu Sennan, current production at Abu Sennan and an update on the timetable for the completion of the Acquisition.\n \nASH-2 well\nFollowing the announcement on 20 December 2019, issued pursuant to media reports in Egypt, ASH-2, which was drilled to a total depth of 4,030m in the Alem El Buieb (AEB) Formation, has been completed to allow selective production from both an upper and lower reservoir interval. The upper and lower intervals were tested separately at maximum gross rates of 7,027 and 3,851 bopd respectively. \n \nASH-2 came on stream on 2nd January and has been consistently producing at over 3,000 bopd (660 bopd net to Rockhopper's 22% interest) on a 32/64\" choke. The well will continue to be monitored over the coming months, and during this period, the interpretation of the test data and the longer-term planning for the ASH field-development will continue with the joint venture partners and Egyptian General Petroleum Corporation ('EGPC'). The rig is currently being mobilised for the first well in the 2020 infill programme (El Salmiya 5) which is expected to spud shortly.\n \nSince ASH-2 came on stream, gross production from the Abu Sennan licence has averaged c. 8,000 boepd, which equates to c. 1,760 boepd net to Rockhopper's 22% interest.\n \nCompletion of the Acquisition\nThe Company is pleased to announce that the approval of the Deed of Assignment by EGPC and Minister of Petroleum and Mineral Re...