Solo Oil Plc (AIM:SOLO) Production Flow Test Operations Commence at Horse Hill-1, PEDL137, Weald Basin, UK

Solo Oil plc (LSE AIM: SOLO) is pleased to announce that it has been informed by Horse Hill Developments Ltd (“HHDL”), the operator of the Horse Hill-1 (“HH-1”) Kimmeridge Limestone 3 (“KL3”), KL4 and Portland oil discovery,  that planned flow testing operations of HH-1 have commenced. All key equipment necessary to carry out a 150-day long-term extended flow test campaign at HH-1 is now on site. The Company holds a 9.75% beneficial interest in licence PEDL137 containing the HH-1 oil discovery.

Following final equipment set-up and the subsequent removal of three temporary suspension plugs in the HH-1 wellbore, flow will first be re-established from the Portland sandstone oil pool.  Testing of each of the KL4 and KL3 oil pools will follow completion of the Portland test sequence.

 Neil Ritson, Solo’s Chairman, commented:

 “We are extremely pleased to see that, following receipt of all regulatory approvals, HHDL has moved quickly to mobilise the necessary equipment and is now due to start the extended well tests in the immediate future.  These tests, aimed at establishing commerciality are a critical part of the pre-development phase and we remain enthusiastic about the potential outcome for our investors.”

 Extended Well Test (“EWT”) Overview

  As the 2016 short flow test campaign established commercially viable initial flow rates for each of the Portland, KL4 and KL3 zones, the 2018 EWT’s prime goal is to confirm that the wellbore is connected to a commercially viable oil volume within one or more of the three zones.

The long term reservoir performance data is also expected to provide the necessary data to enable, for the first time, Petroleum Resources Management System compliant Kimmeridge and Portland reserve figures to be estimated at Horse Hill. 

Each test sequence will include a short, optimised rate test, together with a sequence of “choked back” (i.e. reduced) steady-state flow periods necessary to obtain the data required to determine the connected oil volume within each zone. A series of associated long pressure build up tests are also planned. Oil produced from the EWT will be sold on the “spot” oil market and any revenues will be utilised to offset overall testing costs. 

In a move to further minimise environmental impact, the EWT will utilise a new type of clean-burning enclosed flare, a UK onshore industry first. The flare, utilising technology from UK landfill sites, was developed jointly between Landfill Systems, PW Well Test and UKOG, and is regarded as the best available and preferred technology by the Environment Agency.

Qualified Person’s Statement:  

The information contained in this announcement has been reviewed and approved by Neil Ritson, Chairman and Director for Solo Oil plc, who has over 40 years of relevant experience in the oil industry.  Mr. Ritson is a member of the Society of Petroleum Engineers (SPE), an Active Member of the American Association of Petroleum Geologists (AAPG) and is a Fellow of the Geological Society of London (BGS).



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Share Talk Investor Show - September 27th August 2019

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