Certainly we are worth more ....26 Aug 2015 08:14
Stephen Sanderson, UKOG's Chairman, commented:
"The independent analysis has further tested and given support to our geological model which predicts that the significant volumes of OIP calculated within the tight Jurassic section of HH-1 extend across the Licence Area. The report is thus a further step towards establishing proof of concept for the Jurassic tight oil play potential of Horse Hill and the Weald Basin."
Future Plans:
In parallel with its subsurface and HH-1 flow test studies for the Portland sandstone and underlying tight Jurassic oil zones, the Company has also commissioned related engineering and environmental studies to investigate a conceptual Weald Jurassic field development, with the prime objective that it must respect and preserve the rural beauty and way of life of the area, with minimal environmental impact, while at the same time providing a valuable contribution to the area's economy. This is fundamental to the Company's operating philosophy and policy.