LSE Share Talk spoke with Stephen Sanderson about #UKOG RNS update Upgrade to Portland Oil in Place, Weald Basin.
Stephen Sanderson, UKOG’s Executive Chairman, who has over 35 years of relevant experience in the oil industry, explains in great detail the HH-1 well which UKOG owns a 27.3% interest in the Licences, which are operated by Horse Hill Developments Ltd.
Nutech’s Report details that the production of dry oil from the Portland, with little or no observed water production, required a rethink of the pre-flow test petrophysical model. Revised petrophysical model will be used to update Xodus’ 2015 estimates of the total OIP contained within the mapped Horse Hill Portland oil accumulation.
Stephen Sanderson explains in detail the following comment “The applications will seek permission to conduct a programme consisting of the production flow testing of 3 Kimmeridge Limestone zones plus the overlying Portland over a total flow period of up to 360 days, plus two further appraisal/development wells and the acquisition of 3D seismic data.”