Brendan D’Souza of Wh Ireland said today “UKOG has announced initial results of flow testing operations at the Horse Hill-1 (HH-1) oil discovery well located on the PEDL 137 licence (20.16% non-operated interest). The HH-1 well flowed 40 degree API light sweet oil naturally to surface from a 80 foot zone within the Lower Kimmeridge limestone interval, located at a depth of c.900 meters (2,950 feet).
700 bopd of flow rate, using a 1 inch choke, was recorded at an initial instantaneous rate yesterday. The HH-1 well was then choked back to 32/64 inches resulting in a steady flow rate in excess of 463 bopd over a further 7 hour period. The Lower Kimmeridge flow test is scheduled to commence at 7am today. Upon completion, operations will move to the shallower Upper Kimmeridge limestone and Portland sandstone intervals, which are located at depths of 840 meters (2,755 feet) and 615 meters (2,020 feet) respectively.
We note that today’s news is highly significant for the Horse Hill asset as it is the first ever flow test in the Lower Kimmeridge limestone interval within the Weald basin and provides proof that, moveable oil exists. Further we note that the flow test results exceeded managements internal expectations. We look forward excitedly to the final results from the other two intervals. “
