UK Oil & Gas PLC Turkey: Pinarova-1 Operations Re-Commence (5551Y)
03 Enero 2024 - 7:04AM
UK Regulatory
TIDMUKOG
RNS Number : 5551Y
UK Oil & Gas PLC
03 January 2024
UK Oil & Gas PLC
("UKOG" or the "Company")
Turkey: Pinarova-1 Operations Re-Commence
UK Oil & Gas plc (London AIM: UKOG) is pleased to announce
that operations at Pinarova-1 have commenced with site access and
well pad strengthening and repair. This will be followed by the
arrival of the service provider PSI's wireline equipment and the
operator AME's swab testing unit.
As previously advised, the required explosive permits have been
received for the deployment of the new larger 7" perforating guns
over the Germik/Hoya section, where strong oil odours at surface
were recorded over a 12-hour period during drilling and mobile
light oil was recovered from the mud pit . Geochemical analysis
found the mud pit oil to be near identical to that found in the
seismic shot hole oil seep, located around 1.5 km to the west.
Further operational updates will be made in due course. UKOG
holds a 50% non-operated interest in Pinarova-1 and the surrounding
305 km(2) Resan licence, which also includes the as yet undeveloped
Basur-1 light oil discovery.
Qualified Person's Statement
Matt Cartwright, UKOG's Commercial Director, who has 40 years of
relevant experience in the global petroleum industry, has approved
the information contained in this announcement. Mr Cartwright is a
Chartered Engineer and member of the Society of Petroleum
Engineers.
For further information, please contact:
UK Oil & Gas plc
Stephen Sanderson / Allen D Howard Tel: 01483 941493
WH Ireland Ltd (Nominated Adviser and Broker)
James Joyce / Andrew de Andrade/James Bavister Tel: 020 7220
1666
Communications
Brian Alexander
Tel: 01483 941493
Glossary
discovery a petroleum accumulation for which one or several
exploratory wells have established through testing,
sampling and/or logging the existence of a significant
quantity of potentially moveable hydrocarbons
oil seep a natural flow of crude oil at or close to the
earth's surface whose origin is from a petroleum
accumulation or oil source rock at depth
--------------------------------------------------------
shot hole a shallow borehole in which a small amount of
explosive is detonated in order to generate a
seismic signal.
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The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
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END
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