Rocketing this morning on a superb upgrade !...

Horse Hill-1 Oil Discovery, Weald Basin, UK

Aggregate Flow Rate Likely the Highest of any UK Onshore New Field Discovery Well
UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) announces that Horse Hill Developments Ltd has informed the Company that the final Horse Hill 1 ('HH-1') Portland test flowed at a stable dry oil rate of 323 barrels of oil per day ('bopd'), double the previously reported rate. The final total aggregate stable dry oil flow rate from two Kimmeridge limestones plus the overlying Portland sandstone stands at 1688 bopd. Over the 30-90 hour flow periods from each of the 3 zones, no clear indication of any reservoir pressure depletion was observed. Further analysis of data is ongoing and will be reported shortly.

Way Forward
Given these exceptional results, the Company has commissioned Nutech to investigate a possible upgrade to the oil in place ("OIP") calculated within all 3 test zones together with engineering studies to examine possible flow rates from a horizontal well. Reservoir engineering analyses by Nutech and Xodus are also underway, and will likely result in an estimation of potential recoverable volumes. Results of these studies will be reported shortly.

Preparation is now underway to obtain regulatory permissions to conduct extended production tests from all 3 zones at the site, followed by a horizontal sidetrack in the Kimmeridge and a possible new Portland development well.

Flow Test Highlights
· The final Portland test of 323 bopd, over an 8.5-hour, period is the highest stable dry oil flow rate from any onshore UK Portland well. On further testing, with a larger pump, the rate doubled from the previously reported stable dry oil rate of 168 bopd. The Portland was produced at maximum pump capacity and showed no clear indication of depletion. It is likely that the rate can be further increased using a higher capacity downhole pump during the next planned test.

· Proof that the Kimmeridge limestones contain significant volumes of moveable light oil that can be flowed to surface at commercial rates

· As previously reported, the stable, natural dry-oil flow rate of 464 bopd from the Lower Kimmeridge Limestone is the first ever flow from this rock unit in the Weald Basin and onshore UK

· Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the well's 1688 bopd is likely the highest aggregate stable dry-oil flow from any onshore UK new field wildcat discovery well

· Based on the analysis of published reports from all significant UK onshore discovery wells, the Company concludes that the 901 bopd from the Upper Kimmeridge zone is likely the highest stable natural dry oil flow rate from a single reservoir in any UK onshore new field wildcat discovery well

· High quality Brent Crude produced: light, sweet oil (40 degrees API in Kimmeridge, 35-37 degrees API in Portland) 1,940 barrels delivered to the Esso Fawley refinery

· Preliminary analysis confirms that the Lower and Upper Kimmeridge Limestone units are naturally fractured reservoirs with high deliverability

· Strong possibility for further optimisation and increased flow rates from all 3 zones in future development and production wells, particularly through the use of horizontal wells.

Impressive.....needs oil to rise further...

needs mug punters to keep buying :-)

If crude rises : I'll be one.....

StockMarketWire.com
UK Oil & Gas Investments has acquired the entire 3.9% interest of Flowermay Ltd in onshore Weald Basin licences PEDL137 and PEDL246. The Company now holds a 31.2% total interest in the licences.

is some one going to buy this company or is oil coming out the ground ??

StockMarketWire.com
UK Oil & Gas Investments announces a new Report by Xodus that calculates the Horse Hill Portland sandstone conventional oil accumulation in block PEDL137 to contain an OIP of 32 MMbbl, up 53% from the previously reported 21 MMbbl of May 2015.

UKOG holds a 31.2% interest in the accumulation.

The upgrade results from the incorporation of Nutech's revised petrophysics, as reported in July 2016. As previously stated by UKOG, OIP should not be misconstrued as recoverable Contingent Resources or reserves.

In March 2016 UKOG reported the final Horse Hill-1 (HH-1) Portland test flowed at a stable dry oil rate of 323 bopd, producing light, sweet, 35 API gravity crude.

The Portland was produced at the rod-pump's maximum achievable rate and thus flow was constrained by the pump's mechanical capacity. The test data analyses showed no clear indication of depletion.

"As a result of further analysis of the Portland flow test data, plus a review of similar producing fields, Xodus now assess the gross recoverable Portland 2C Contingent resources at 1.5 MMbbl," said UKOG.

"As a result, Company net attributable Portland 2C resources are assessed at 0.5 MMbbl. Calculated OIP and resources reflect oil contained in the entire Portland structure, as penetrated by the HH-1 and Collendean Farm -1 wells."

The HH-1 oil discovery well is located within onshore UK exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. Horse Hill Development Ltd (HHDL) holds a 65% interest in PEDL137 and is the licence's operator.

The content of UKOG's statement was formally noted by Solo Oil (SOLO) and Regency Mines, which have stakes in HHDL and working interests in PEDL137.

can one believe a single word that comes from this company?

Not one I hold Mr C, but the penny stock traders seem to like it!

anyone who trusts lenigas or anything within smelling distance of him deserves to get their fingers badly burned

i'm sure there was a mega-lie about this stock back in the summer

WELL it has happened

StockMarketWire.com
UK Oil & Gas Investments has reported that mobile light oil has been observed seeping from open natural fractures in Kimmeridge Limestone 4 ("KL4") core samples at its 100%-owned Broadford Bridge-1 ("BB-1") exploration well.

The KL4 samples, at a measured depth of around 4080 feet, exhibit a strong oil odour plus the rock matrix is oil saturated and heavily oil stained.

Wet gas readings also increased significantly at the top of the KL4. Both the KL4 and overlying shales exhibit a high degree of natural fracturing.

Coring operations continue through KL4. The Company added that the well remains on schedule and under budget.

Stephen Sanderson, UKOG's Executive Chairman commented:

"I am privileged and excited to have seen, smelt and touched the oil in the KL4 samples today, alongside UKOG's management and operations team. This is a significant and positive result at such an early stage in the well.

Whilst this is still early days, the presence of mobile oil within a Kimmeridge geological feature that has no structural oil trapping configuration, demonstrates that both BB-1 and Horse Hill-1 could be part of the same Kimmeridge continuous oil deposit. This oil deposit may therefore extend over 30 km from north to south across the Weald Basin.

We will now continue our coring and drilling program and then move to an extended flow testing operation upon the grant of the remaining necessary regulatory permissions."

Sudden bout of interest.

Possibility of a big oil deposit.....company might have hit the jackpot...early days but soooh.... promising !....

required field - 09 Apr 2015 09:25
Rocketing this morning on a superb upgrade !...

mitzy - 09 Apr 2015 09:33 - 2 of 162
David Lenigas on BBC this am says its the biggest discovery in 30 years.

Well Cynic : there is light oil there...and near Gatwick....they are bound to try and flow test all this....and us punters to try and profit from this...I've been in this for several years now...perhaps my patience might be rewarded...

Superb chart.

It is a nice looking chart! I wonder where this share would have been with the same discovery 10 years ago, without the influence of the infamous Mr Lenigas?!

A lot of excitement in the UKOG camp!😃


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Superb performance today and a new closing high.