TIDMUKOG
RNS Number : 4896D
UK Oil & Gas PLC
19 February 2020
UK Oil & Gas PLC
("UKOG" or the "Company")
Horse Hill-2z Water Shut Off Intervention Commences
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that operations to shut off formation water ingress into its Horse
Hill-2z ("HH-2z") horizontal production well have commenced. By
means of a Halliburton coiled tubing unit, production logging tools
will be run along the entire length of the 2,500 ft horizontal
section to identify the source of water ingress, thought to be from
a series of open natural fractures at the base or "toe" of the
wellbore.
Once identified, the source of water ingress will be isolated,
either via a rigid setting fluid plug, or by a conventional
cementing and selective perforation programme. A resumption of
HH-2z extended well test operations is planned to follow directly
after a successful intervention. Portland oil pool test production
from HH-1 will continue during the intervention.
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 look forward to a successful intervention programme and the
near-term resumption of test oil production from the new HH-2z
horizontal 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 941493
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: 020 7397 8919
Novum Securities (Joint Broker)
John Bellis Tel: 020 7399 9400
Public Relations
Brian Alexander Tel: 01483 900582
Glossary
coiled tubing a very long, narrow (typically 1 to 3.5 inch diameter)
(CT) continuously welded metal tube, which is supplied
spooled on a large reel. It is used for interventions
to convey tools and/or fluids to specific downhole
locations where deployment via wireline or other
conventional means is impossible or impractical
i.e. in existing deviated and horizontal wells.
It can also be used for drilling purposes in existing
wellbores via the installation of a drill bit and
bottom hole assembly powered solely by drilling
fluid circulation. Its use removes the need for
a workover rig as most CT units are self-contained
and trailer mounted.
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
----------------------------------------------------------
production PLTs measure flowing fluid parameters on a zone-by-zone
logging tools basis within a producing well. They provide diagnostic
(PLTs) information, pinpoint where fluids such as water,
oil and gas are entering a well and gives an indication
about the efficiency of the perforations. PLTs
normally measure four parameters: flow (via a series
of spinners which rotate in the flow), density,
temperature and pressure. The flow and density
readings are used in traditional quantitative production
logging analysis, whilst temperature and pressure
data are used in more of a qualitative way to compute
in-situ flow properties and locate zones of entry
of fluids into a well
----------------------------------------------------------
well test or flow test involves testing a well by flowing
hydrocarbons to surface, typically through a test
separator over a flowing period of up to 96 hours;
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. An extended well test or EWT is a
well test with duration of over 96 hours and up
to 90 or 180 flowing days aimed at assessing longer
term production viability and the connected oil
in place seen by the well.
----------------------------------------------------------
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 Production
Hill Hill tests ongoing,
Horse Hill Developments Developments HH-2/2z drilling
(5) PEDL137 85.635% Ltd Ltd 99.3 completed
---------------------- ---------- -------------- -------------- --------------- ---------------------
Horse Horse
Hill Hill
Horse Hill Developments Developments
(5) PEDL246 85.635% Ltd Ltd 43.6 As above
---------------------- ---------- -------------- -------------- --------------- ---------------------
Preparing
planning submission
for Arreton
oil appraisal
Isle of well and Godshill
Wight (Onshore) 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
completed. Long term Production start expected Spring 2020.
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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