UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) have told DirectorsTalk that it has been notified by Horse Hill Developments Limited (“HHDL”) that operations have now commenced at the Horse Hill site to conduct the extended flow test over three separate zones in the Horse Hill-1 (“HH-1”) oil discovery well.
As previously reported, the extended flow test is designed to test both the oil bearing Upper Portland sandstone and two Kimmeridge limestones beneath the Portland.
The HH-1 discovery well, drilled at the end of 2014, is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. UKOG owns a 20.163% interest in PEDL137.
Stephen Sanderson, UKOG’s Executive Chairman commented: “We look forward to safe and successful operations and to moving the project forward.”
UKOG’s interest in Horse Hill
The HH-1 well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. UKOG owns a 30% direct interest in HHDL and a 1.02% interest in HHDL via its 6% interest in Angus Energy Limited. HHDL is a special purpose company that owns a 65% participating interest and operatorship of Licence PEDL137 and the adjacent Licence PEDL246 in the UK Weald Basin.
