RE: RNS3 May 2023 08:03
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that Pinarova-1 has reached its final depth of 600 metres below surface. Electric logs over both the 9? inch cased hole and 8½ inch open hole section have been acquired and the delivery of a final log interpretation is awaited.
Plans are now being made to run a conventional selective cased hole flow test operation. The proposed uppermost zone, from approximately 255-285 metres, corresponds to a 12-hour period of strong oil odour at surface and the recovery of light c. 38° API oil within fluids returned to surface from the same depth. The sourcing of suitable perforating guns to run in the 9? inch casing is currently underway.
A sample of the oil recovered from Pinarova (as detailed above) along with samples of the 41.7° API oil recovered from the active seismic shot-hole seep (see RNS of 11th January 2023 and 30th June 2022) and 43° API oil from the nearby East Sadak field, have now also been dispatched to the UK for detailed geochemical study.
The oil study's primary objectives are to determine; a. whether the Pinarova oil sample matches the oil from the shot-hole seep, b. whether it's derived from the same general Upper Jurassic source as E. Sadak or c. it has another origin from shallower Cretaceous origin. The geochemical results will assist the Company's current investigations into the possibility that a deeper light oil accumulation may also exist below the Pinarova area within Cretaceous limestones.