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UK Oil & Gas PLC - UK-focused oil and gas exploration and production company - Says the casing for the Pinarova-1 well in Turkey is now set and cemented down to 287 metres below surface. Installation of the new wellhead and blow-out prevent assembly is now also nearing completion. Drilling is expected to resume on schedule in the next few days, following final wellhead and blow-out prevent pressure test. Plans to drill ‘cautiously’ through the Hoya target zone and to open-hole test any zones where ‘good live oil shows’ are encountered prior to reaching total depth at around 550 metres below surface. UK Oil & Gas holds a 50% non-operated interest in Pinarova-1 and the surrounding 305 kilometre squared Resan licence. Current stock price: 0.067 pence, down 2.5% in London on Tuesday afternoon 12-month change: down 44% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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