UK Oil & Gas PLC – Turkey: Pinarova-1 9⅝ inch casing set

UK Oil & Gas PLC (London AIM: UKOG) has made an announcement regarding the progress of Pinarova-1 drilling operations. The 9⅝ inch casing has been successfully set and cemented at a depth of 287 metres below the surface, and the installation of the new wellhead and blow-out preventer assembly is nearing completion in preparation for drilling through the target Eocene Hoya limestone sequence.

The final pressure test is scheduled to be conducted soon, and drilling is expected to resume in the next few days.

During the drilling process, caution will be exercised while passing through the Hoya target zone. Any zones with good live oil shows will be open-hole tested before reaching the total depth of around 550 metres below surface. UKOG’s geologist will remain present to help identify and sample any live oil, as well as describe the Hoya reservoir geology observed in drill cuttings within the newly enlarged mud-pits.

Located 6 km north of the Basur-1 oil discovery, Pinarova-1 is designed to test a working hypothesis based on well and seismic data, which suggests that the active 41.7˚ API light oil seep discovered last summer in a seismic shot hole above the Pinarova structure is directly fed by and connected to an underlying light oil accumulation.

This accumulation is estimated to have a 9 km² areal extent within the Hoya limestones, lying approximately 300-645 metres below surface. UKOG holds a 50% non-operated interest in Pinarova-1 and the surrounding 305 km² Resan licence, which includes the as yet undeveloped Basur-1 light oil discovery.

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