REG - UK Oil & Gas Inv PLC - Update - Broadford Bridge-1

UK Oil & GasAnnouncement

21/03/2018 14:30

RNS Number : 4830I
UK Oil & Gas Investments PLC
21 March 2018
 

UK Oil & Gas Investments PLC
("UKOG" or the "Company")
 
Operational Update: Broadford Bridge-1/1z Oil Discovery, Weald Basin, UK
 
UK Oil & Gas Investments PLC (London AIM: UKOG) has been informed by its 100%-owned subsidiary Kimmeridge Oil & Gas Limited that well testing operations have now ceased at Broadford Bridge in West Sussex. Equipment is being removed from the site and the Company will update the market once data and test results have been assessed.
In the meantime, the focus now shifts to the Horse Hill well site (located in licence PEDL137), operated by Horse Hill Developments Ltd (HHDL), where an extended well test of the Horse Hill-1 oil discovery will commence once all regulatory approvals are in place. UKOG owns a 49.9 per cent interest in HHDL and 32.435 per cent interest in the Horse Hill site and PEDL137.
 
For further information, please contact:
UK Oil & Gas Investments PLC
Stephen Sanderson / Kiran Morzaria                                     Tel: 01483 243450 
 
WH Ireland (Nominated Adviser and Broker)
James Joyce / James Sinclair-Ford                                          Tel: 020 7220 1666
 
Cenkos Securities PLC (Joint Broker)
Joe Nally / Neil McDonald                                                        Tel: 0207 397 8919
 
Public Relations
Brian Alexander / David Bick                                                    Tel: 01483 900583/ 01483 243450
 
UKOG Licence Interests
  
The Company has interests in the following UK licences:




Asset


Licence


UKOG's Interest


Licence Holder


Operator


Area (km2)


Status




Avington 1


PEDL070


5%


UKOG (GB) Limited


IGas Energy Plc


18.3


Field in stable production




Baxters Copse 2


PEDL233


50%


UKOG Weald Limited


IGas Energy Plc


89.6


Appraisal/development well planned; licence extended to 2018




Broadford Bridge 3


PEDL234


100%


Kimmeridge Oil & Gas Limited 4


Kimmeridge Oil & Gas Limited 4


300.0


BB-1 & 1z drilling completed, testing of multiple zones underway




Holmwood 3


PEDL143


40%


UKOG


Europa Oil & Gas (Holdings) plc


91.8


Holmwood-1 exploration well planned in 2018




Horndean 1


PL211


10%


UKOG (GB) Limited


IGas Energy Plc


27.3


Field in stable production




Horse Hill 5


PEDL137


32.435%


Horse Hill Developments Ltd ⁶


Horse Hill Developments Ltd ⁶


99.3


Production tests and further appraisal well (s) scheduled for 2018




Horse Hill 5


PEDL246


32.435%


Horse Hill Developments Ltd⁶


Horse Hill Developments Ltd ⁶


43.6


As above




Isle of Wight (Onshore) 2, 3


PEDL331


65%


UKOG


UKOG


200.0


Preparing Arreton-3 oil discovery appraisal well planning submission




Markwells Wood 2


PEDL126


100%


UKOG (GB) Limited


UKOG (GB) Limited


11.2


Revised drilling and testing planning application underway




 
Notes:
1. Oil field currently in production.
2. Oil discovery pending development and/or appraisal drilling.
3. Exploration asset with drillable prospects and leads. Contains the Broadford Bridge-1&1z discovery well, the extension of the Godley Bridge Portland gas discovery plus further exploration prospects.
4. UKOG has a 100% interest in Kimmeridge Oil & Gas Limited
5. Oil discovery with successful flow test in 3 zones, further long-term testing scheduled in 2018
6. UKOG has a direct 49.9% interest in HHDL, which has a 65% interest in PEDL137 and PEDL246
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
 



This information is provided by RNS
The company news service from the London Stock Exchange
 
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