HH18 Mar 2019 12:21
Posted on LSE roganjt
UKOG CHIEF EXECUTIVE'S STATEMENT - Snippet 6
Test results to date were beyond our expectations, with over 35,000 bbl total Portland and Kimmeridge production to date. The tests also confirmed that the Portland is commercially viable with EXPECTED RECOVERIES possibly EXCEEDING 30% of the 30 million barrels of oil in place.
The Kimmeridge also performed well, producing over 25,000 bbl of 40° API Brent crude, mostly post the reporting period. Test data CONFIRMED that the Kimmeridge Limestone 3 ("KL3") and KL4 horizons are part of ONE LARGE SINGLE OIL RESERVOIR, likely extending downwards a further 300 ft or more below the base of KL3, a 600 ft vertical extent. This, combined with the absence of any produced formation water, almost certainly means the oil is part of a continuous oil deposit of considerable vertical and lateral extent.
The determination of the Kimmeridge continuous oil deposit's extent will be further defined by the forthcoming HH-1z horizontal well.