Last checked at 4 Jan 2016 07:00
Evocutis plc
("Evocutis" or the "Company")
Horse Hill-1 Oil Discovery, Weald Basin, UK
Final Flow Test Consent from the UK Oil and Gas Authority
Evocutis (AIM: EVO, ISDX: EVO) announces that it has been informed by Horse Hill Developments Limited ("HHDL") that the UK Oil and Gas Authority ("OGA") has granted consent for an extended flow test over three separate zones in the Horse Hill-1 ("HH-1") oil discovery well. All necessary permissions to test the well are now in place.
The HH-1 well, drilled at the end of 2014, is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport, in which Evocutis owns a 1.3% interest.
Interest in Horse Hill
The HH-1 well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. Evocutis owns a 2% direct interest in HHDL. HHDL is a special purpose company that owns a 65% participating interest and operatorship of Licence PEDL137 and the adjacent Licence PEDL246 in the UK Weald Basin.
For further information please contact:
Evocutis plc: +44 (0) 20 7440 0640
Hamish Harris
Nominated Adviser and Broker:
Cairn Financial Advisers LLP +44 (0) 20 7148 7900
James Caithie / Liam Murray
Glossary
discovery | a discovery is a petroleum accumulation for which one or several exploratory wells have established through testing, sampling and/or logging the existence of a significant quantity of potentially moveable hydrocarbons |
extended flow test permit | OGA approval to flow test a well with an aggregate flow period over all zones of up to 90 days. Normal flow test approval is for an aggregate flow period of 96 hours |
flow test | a flow test or well test involves testing a well by flowing hydrocarbons to surface, typically through a test separator. Key measured parameters are oil and gas flow rates, downhole pressure and surface pressure. The overall objective is to identify the well's capacity to produce hydrocarbons at a commercial flow rate |