Just remember1 Aug 2018 13:29
• Metered daily oil rates to date equal to or exceed 2016 values. Highest observed hourly rate equivalent to an implied daily rate of 352 barrels of oil per day ("bopd"). Corresponding metered solution gas volumes are up to an implied rate of 30,000 cu ft per day.
• Flow has not yet been optimised for maximum sustainable flow rates
• First tanker containing 214 barrels of dry oil exported to BP's Hamble oil terminal
• Oil produced from the EWT will be sold on the "spot" oil market and any revenues will be utilised to offset overall testing costs.
• 2016 short flow test campaign established commercially viable initial flow rates for each of the Portland, KL4 and KL3 zones, the 2018 EWT's prime goal is to confirm that the wellbore is connected to a commercially viable oil volume within one or more of the three zones.
• Stephen Sanderson, UKOG's Executive Chairman and Chief Executive, who has over 35 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Sanderson is a Fellow of the Geological Society of London and is an active member of the American Association of Petroleum Geologists.