Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Looking forward to Penguins' balanced analysis of this latest RNS.
gla
Great news,still no mention of water in the core samples?
I'm just a bit concerned by the previous RNS re the additional cores increasing OIP. Sound like just the target core came up trumps, which is still very good for the horizontal but make me wonder why the info on the previous RNS if they werent sure? Could have left it a few days.
bleeding , profusely, strongly worded statement there.
The core is now at a Surrey-based laboratory, where an extensive geological and petrophysical analysis programme is now underway. Results of analyses that directly impact the field's possible increased oil in place and recoverable oil volumes will be reported in due course.
Great News. ATB
Dont be fooled those sells at 1.11p are buys
In other news, a shortage of thimbles in the SE of England has been reported.
Excellent news again!
It just keeps giving.
I especially like the words bleeding and profusely .
Game on!
On with the horizontal.
Exciting times!
Watch them stop losses they’ll be coming for yer!
GLA!
Absolutely. The good news just keeps stacking up.
I’d be more than a little concerned if I was short on this now.
I expect we will get the usual jiggary pokey on good news but it coincides with my listing of Alma Cogans "Fly Me to the Moon" On an Auction website. Apt I Hope.
Woot, woot. :)
Yes, fantastic, they drilled another hole and hit oil again...core bleeding profusely!!!
They hit the sweet spot and next week will drill 1000m through it guided by data, not guessing.
So much risk taken off the table with this RNS. Massive opportunity here at this price.
GLA
No more cheap shares here - website too slow for me.
more cheap shares here...
Excellent news. Derampers will now come out from their woodwork and play this down. This share should be over 1.5p
All going smoothly and looking extremely positive.
About HH-2/2z:
HH-2/2z, the first of two new horizontal wells in the field's Portland oil pool, is designed to be retained as a future production well, capable of delivering flow rates significantly higher than the previously reported 362 barrels of oil per day from the HH-1 vertical Portland discovery well. Following a planned extensive HH-2z production flow-testing campaign, both HH-2z Portland and the HH-1 Kimmeridge well are expected to be put into long term production by the end of 2019.
Stephen Sanderson, UKOG's Chief Executive, commented:
"The HH-2 coring programme has delivered its key short-term goal of defining the Portland reservoir's sweet-spot, the most porous and permeable vertical zone within the oil pool. We can now confidently proceed ahead to drill the HH-2 horizontal trajectory wholly within the most oil productive part of the Portland, the zone capable of delivering the significant flow rates we seek."
UK Oil & Gas PLC
("UKOG" or the "Company")
Horse Hill Oil Field - Successful Completion of HH-2 Coring Operations
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce the successful completion of an extensive conventional coring programme in its 85.635% owned Horse Hill-2 ("HH-2") Portland pilot well. Preliminary visual analysis of a total of 241.45 ft of core has clearly identified the Portland reservoir's most productive zone or "sweet spot", which will now be the target of the planned circa 1,000 m HH-2z horizontal trajectory, expected to commence next week.
Live oil was observed "bleeding" profusely from core throughout the sweet-spot, the Upper Portland reservoir's most porous, permeable and oil productive interval. Lesser degrees of oil bleed, together with oil shows and oil staining were also observed from porous sandstone intervals lying above and below the sweet-spot.
The core is now at a Surrey-based laboratory, where an extensive geological and petrophysical analysis programme is now underway. Results of analyses that directly impact the field's possible increased oil in place and recoverable oil volumes will be reported in due course.
Having also reached its planned depth of around 2320 ft below rig floor, the well is now being prepared for electric logging, following which it will be plugged back to the "kick-off" point delineating the start of the HH-2z horizontal section.
To ensure the borehole remains wholly within the sweet spot, HH-2z will be actively "geo-steered" during drilling to keep within a series of core and electric log-derived diagnostic geological markers delineating the zone's upper and lower boundaries. The successful delivery of such an optimally placed horizontal trajectory is designed to optimise flow rates and oil recoveries from the Portland reservoir.
UKOG holds a controlling 85.635% interest in the Horse Hill oil field and surrounding highly prospective PEDL137 and PEDL246 licences, which are operated by UKOG's subsidiary company, Horse Hill Developments Ltd.