UK Oil & Gas Investments PLC (London AIM and NEX: UKOG) announces that 13⅜ inch steel casing was set and cemented successfully over the 855 feet thick Weald Clay section on its 100% interest Broadford Bridge-1 (“BB-1”) Kimmeridge Limestone exploration well.
Directional drilling operations, within 12¼ diameter hole, commenced on Monday evening. BB-1 has now reached a depth of over 370 metres (1200 feet) below surface within the Lower Cretaceous Hastings Beds. The uppermost Kimmeridge Limestone target, KL4, is expected to be conventionally cored in around 10-12 days’ time. The well remains on schedule and within budget.
About BB-1
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.
The well is designed to drill through the target limestones at an inclination of around 50 degrees to vertical and at approximately 90 degrees to the predicted orientation of open natural fractures in the reservoir. 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.
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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