UK Oil & Gas plc (London AIM: UKOG) is pleased to announce that all required explosives permits for the deployment of the new 7-inch perforating guns, capable of fully penetrating Pinarova’s 9⅝-inch casing, have now finally been secured by the service provider, PSI.
The equipment is thus fully ready to be transported to site. The Company is now liaising with the operator AME to schedule a firm date for the resumption of testing operations.
The new guns will be deployed over the Germik/Hoya section where strong oil odours at surface were recorded over a 12-hour period during drilling and mobile light oil was recovered from the mud pit (see RNS of 22nd September 2023). Geochemical analysis found the mud pit oil to be near identical to that found in the seismic shot hole oil seep, located around 1.5 km to the west.
UKOG holds a 50% non-operated interest in Pinarova-1 and the surrounding 305 km² Resan licence, which also includes the as yet undeveloped Basur-1 light oil discovery.
Qualified Person’s Statement
Matt Cartwright, UKOG’s Commercial Director, who has 40 years of relevant experience in the global petroleum industry, has approved the information contained in this announcement. Mr Cartwright is a Chartered Engineer and member of the Society of Petroleum Engineers.
For further information, please contact:
UK Oil & Gas plc
Stephen Sanderson / Allen D Howard Tel: 01483 941493
