TIDMUKOG
RNS Number : 0646S
UK Oil & Gas PLC
04 November 2019
UK Oil & Gas PLC
("UKOG" or the "Company")
Horse Hill Oil Field: HH-2z Horizontal Update
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that its Horse Hill-2z ("HH-2z") Portland horizontal well (UKOG
85.635% net controlling interest) has, to date, successfully
drilled 2,016 ft wholly within the Portland reservoir's most oil
productive zone or "sweet spot", the presence and quality of which
was defined by the HH-2 pilot well's successful coring and electric
logging programmes.
Following the fitting of a new rig engine, expected to be
completed over the coming days, the remaining 1,200 ft of the
planned circa 3,200 ft horizontal section within the "sweet-spot"
will be drilled. Horizontal drilling is expected to be completed by
mid-November.
Drilling data indicates that sections of possible increased
reservoir quality over that seen in HH-1 and HH-2 have been
encountered within the sweet-spot. Furthermore, mud weights
indicate that the horizontal may lie within a reservoir zone that
is less pressure depleted by HH-1 oil production than expected. A
comprehensive electric logging and extended well test ("EWT")
programme will further clarify these potentially positive
outcomes.
HH-2/2z, the first horizontal well in the field's Portland oil
pool, is designed to be retained as a future production well,
capable of delivering flow rates significantly higher than the
previously reported 362 barrels of oil per day from the HH-1
vertical Portland discovery well.
HH-2z Operations
After cementing the 7-inch diameter casing down to 2373 ft, the
well drilled ahead in 6-inch diameter hole, encountering the top
Portland sandstone at a drilled depth below rig floor of 2389 ft,
some 850 ft laterally southeast of the HH-2 surface location.
The well's 6-inch hole trajectory was increased from around
70deg to vertical at the 7-inch casing shoe to its current
88deg-90deg to vertical, approximately parallel to the geological
dip of the Portland. Electric logging tools close to the drilling
bit together with rock cuttings have enabled the trajectory to be
kept within an overall 35 ft thick section containing the highest
permeability reservoir zones.
After reaching its total drilled depth, HH-2z will then be
completed with production tubing and a downhole electric pump or
"ESP" prior to a clean-up programme and extensive EWT campaign.
UKOG holds a controlling 85.635% interest in the Horse Hill oil
field and surrounding highly prospective PEDL137 and PEDL246
licences, which are operated by UKOG's subsidiary company, Horse
Hill Developments Ltd.
Stephen Sanderson, UKOG's Chief Executive, commented:
"We have successfully delivered around two thirds of the planned
horizontal section within the Portland reservoir's sweet-spot, a 35
ft zone containing the most productive, porous and permeable
sandstones. Keeping within this zone is no mean feat and is a
testament to the meticulous preparation and skill of our geologists
and directional drillers. We remain on schedule to complete
drilling the full trajectory around the middle of November, and
will then immediately complete, clean-up and flow test the
well."
Qualified Person's Statement
Matt Cartwright, UKOG's Commercial Director, who has over 36
years of relevant experience in the global oil 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 / Kiran Morzaria Tel: 01483 900582
WH Ireland Ltd (Nominated Adviser and Broker)
James Joyce / James Sinclair-Ford Tel: 020 7220 1666
Cenkos Securities PLC (Joint Broker)
Joe Nally / Neil McDonald Tel: 0207 397 8919
Novum Securities (Joint Broker)
John Bellis Tel: 020 7399 9400
Public Relations
Brian Alexander Tel: 01483 900582
Glossary
coring a drilling technique that involves using a doughnut-shaped
drilling bit to capture or "cut" a continuous cylinder-shaped
sample of in-situ rock. The core is captured in
a steel pipe or "core barrel" above the bit. Core
is normally cut in 30 feet lengths, or multiples
of 30 feet, and with a diameter of 3-4.5 inches.
Core is taken in petroleum reservoir rocks for
detailed laboratory analyses of geological, geochemical
petrophysical and geomechanical properties
horizontal a well that during drilling is steered so as to
well follow and remain within a particular geological
stratum or reservoir unit having a trajectory that
runs approximately parallel to the top and or base
of the target horizon
---------------------------------------------------------------
oil field an accumulation, pool or group of pools of oil
in the subsurface that produces oil to surface
---------------------------------------------------------------
well test or flow test involves testing a well by flowing
hydrocarbons to surface, typically through a test
separator; key measured parameters are oil and
gas flow rates, downhole pressure and surface pressure.
The overall objective is to identify the well's
capacity to produce hydrocarbons at a commercial
flow rate and volumes.
---------------------------------------------------------------
UKOG Licence Interests
The Company has interests in the following UK licences:
Asset Licence UKOG Licence Operator Area (km(2) ) Status
Interest Holder
UKOG IGas Field currently
Avington (GB) Energy temporarily
(1) PEDL070 5% Limited Plc 18.3 shut in
---------------------- ---------- -------------- -------------- -------------- ---------------------
BB-1/1z oil
discovery,
Broadford Loxley-1 gas
Bridge/Loxley/Godley appraisal
Bridge UKOG UKOG well planning
(2, 3, (234) (234) application
8) PEDL234 100% Ltd (4) Ltd (4) 300.0 submitted
---------------------- ---------- -------------- -------------- -------------- ---------------------
Finalising
new site selection
to drill Portland
UKOG and Kimmeridge
A24 (3) PEDL143 67.5% UKOG (7) 91.8 prospects
---------------------- ---------- -------------- -------------- -------------- ---------------------
UKOG IGas
Horndean (GB) Energy Field in stable
(1) PL211 10% Limited Plc 27.3 production
---------------------- ---------- -------------- -------------- -------------- ---------------------
Horse Horse
Hill Hill Production
Horse Hill Developments Developments tests ongoing,
(5) PEDL137 85.635% Ltd Ltd 99.3 HH-2/2z drilling
---------------------- ---------- -------------- -------------- -------------- ---------------------
Horse Horse
Hill Hill
Horse Hill Developments Developments
(5) PEDL246 85.635% Ltd Ltd 43.6 As above
---------------------- ---------- -------------- -------------- -------------- ---------------------
Preparing
planning submission
for Arreton-3
oil appraisal
Isle of well and Arreton
Wight (Onshore) South exploration
(2, 3) PEDL331 95% UKOG UKOG 200.0 well
---------------------- ---------- -------------- -------------- -------------- ---------------------
UKOG UKOG
Markwells (GB) (GB)
Wood PEDL126 100% Limited Limited 11.2 MW-1 P&A
---------------------- ---------- -------------- -------------- -------------- ---------------------
Notes:
1. Oil field currently in stable production.
2. Oil discovery pending development and/or appraisal
drilling.
3. Exploration asset with drillable prospects and leads.
4. Contains the Broadford Bridge-1/1z Kimmeridge oil discovery,
the eastern extension of the Godley Bridge Portland gas discovery,
plus further undrilled Kimmeridge exploration prospects.
5. Portland and Kimmeridge Oil field with productive and
commercially viable zones, EWT ongoing, production planning consent
granted in September 2019, appraisal/development drilling campaign
underway. Long term production start expected late 2019.
6. UKOG has a direct 77.9% interest in HHDL, which has a 65%
interest in PEDL137 and PEDL246.
7. OGA consent received for the transfer of operatorship from
Europa to UKOG
8. Gas discovery pending appraisal drilling and development with
underlying Kimmeridge potential
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
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contact rns@lseg.com or visit www.rns.com.
END
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