Drilling Update at 100% Owned Broadford Bridge-1 Kimmeridge Exploration Well
UK Oil & Gas Investments PLC (London AIM and NEX: UKOG) announces that it has now drilled and cased-off the 12¼ inch hole section of its 100% interest Broadford Bridge-1 (“BB-1”) exploration well. BB-1 has reached a measured depth of over 830 metres and is now drilling ahead in 8½ inch hole towards the objective.
An extensive conventional coring programme within the target Kimmeridge Limestone section is planned to commence next week. The well is now under budget and remains on schedule.
BROADFORD BRIDGE UPDATE: Drilling for Kimmeridge Limestones on schedule and on budget @UKOGlistedonAIM
BB-1 is located near Billingshurst, West Sussex, within the 300 km² PEDL234 licence, in which the Company has a 100% interest via its ownership of the licence’s operator, Kimmeridge Oil & Gas Limited. The well, an exploration step-out, is designed to penetrate four naturally fractured Kimmeridge Limestone units (KL1-KL4), the uppermost two units of which flowed at record rates in the Company’s Horse Hill-1 discovery near Gatwick Airport.
South East Today, Evening News, 14:06:2017
The well will now continue to drill at a consistent inclination of 54 degrees to vertical and at approximately 90 degrees to the predicted orientation of open natural fractures in the KL1-KL4 reservoir section. The planned overall horizontal deviation of the well is approximately 1 km to the north-northeast of the well site. The Kimmeridge Limestones are expected to be encountered at a drilled depth of approximately 1300-1700 metres, which equates to around 950-1200 metres vertically below surface.
Media Day at Broadford Bridge: Yvette Austin’s report on BBC South East TV with Stephen Sanderson, UKOG’s Executive Chairman
Qualified Person’s Statement
Stephen Sanderson, UKOG’s Executive Chairman, who has over 35 years of relevant experience in the oil industry, has approved the information contained in this announcement. Mr Sanderson is a Fellow of the Geological Society of London and is an active member of the American Association of Petroleum Geologists.
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