Spot the difference23 Jul 2018 18:35
01 March 2016
UK Oil & Gas Investments PLC (London AIM and ISDX: UKOG) announces that Horse Hill Developments Limited ("HHDL") has informed the Company that 100% dry, 40-degree API, light, sweet oil has flowed freely to surface, without pumping, at an average stabilised rate in excess of 900 barrels per day from an 88-foot aggregate perforated zone within the Upper Kimmeridge limestone interval at a depth of approximately 840 metres below ground level.
Restricted flow of 100% dry oil, through a 1-inch choke, using a rod pump, commenced at around 1350 hrs GMT yesterday at an initial instantaneous rate in excess of 700 barrels per day ("bopd"). At circa 1430 hrs the well started flowing freely to surface, without pumping. The free flow rate increased to over 900 bopd at 1500 hrs. The flow of dry oil then stabilised from 1500 hrs to approximately 1800 hrs, at rates averaging in excess of 900 bopd.
Note that as a consequence of flow initialisation via rod pump, the initial natural flow rates stated above were further restricted by the rods within the 2 and 7/8-inch production tubing.
The well was shut in at approximately 1830 hrs yesterday. The well was opened and free 'natural' oil flow recommenced at 2234 hrs yesterday. The well was flowed to obtain a further stabilised flow period and reservoir engineering data. A further update will be provided once this new data is available.
With this stable Upper Kimmeridge limestone flow, the two Upper Kimmeridge and Lower Kimmeridge limestone intervals have now produced a combined average stable rate of over 1,360 bopd.
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