Following the announcement on 01 March 2016, UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) has told DirectorsTalk that Horse Hill Developments Limited has informed the Company that the well resumed flowing 100% dry oil from the Upper Kimmeridge Limestone, through a one-inch choke, at an instantaneous rate of 1008 barrels per day (“bopd”) and continued to flow for a further 7.5 hours from 2234hrs on 29 February at an average rate of 838 bopd. The well was shut in at 0600 01 March for a 12-hour pressure build up test.
As previously announced, on completion of this Upper Kimmeridge test, operations will move to the shallower Portland sandstone zone at approximately 615 metres below ground level.
Horse Hill-1 Discovery Well and Licence
The exploration drilling phase of the HH-1 discovery well was originally completed at the end of 2014. The well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. UKOG owns a 19.968% interest in PEDL137.
Stephen Sanderson, UKOG’s Executive Chairman commented: “The well continues to perform above management’s expectations. We look forward to testing the overlying Portland shortly.”
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 0.72% 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.
