UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that following completion of the Basur-3 appraisal well’s initial 17½ inch diameter hole section, 13⅜ inch casing has now been set, successfully cemented down to a drilled depth of 367 m (1204 ft) below surface and pressure tested.
Following the setting of blow out preventers, drilling will then resume in 12¼ inch hole section, the base of which is planned to penetrate the Garzan limestone, the first of two target horizons.
The Basur-3 oil appraisal well is located within the north-western structural culmination of the 60 km² Basur-Resan geological anticlinal structure, approximately 1.2 km north of the 1964 Basur-1 oil discovery well which, as previously reported on 14 October 2020, 15 January 2021, 21 June 2021, flowed oil to surface at encouraging rates over a 6 hour test period.
Basur -3 is the first modern well designed to properly appraise and assess the extent and commercial viability of the Basur-Resan oil pool discovered in the 1950s-1960s.
UKOG Turkey Ltd holds a 50% non-operated interest in B-3 and the surrounding 305 km² Resan M47-b1,b2 licence.
A selection of the latest site photographs are available on the Company’s website:
Qualified Person’s Statement
Matt Cartwright, UKOG’s Commercial Director, who has 38 years of relevant experience in the global oil 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 / Kiran Morzaria Tel: 01483 900582#