United Oil & Gas PLC (LON:UOG) Rockhopper Announcement

 

On 23 July 2019 United Oil & Gas PLC (“United”), the AIM traded oil and gas exploration and development company, announced the proposed acquisition of Rockhopper Egypt Pty Ltd from Rockhopper Exploration Plc.

 


Published 23rd July 2019
 

The purchase will include a non-operated 22% interest in the Abu Sennan concession onshore Egypt, and accordingly United notes the announcement made by Rockhopper Exploration Plc earlier today with the headline “Egypt Update” and with RNS number 1623I available on the following link

https://www.share-talk.co.uk/announcements/rns/rockhopper-exp-plc/egypt-update/201908070700041623I

Al Jahraa-7

The development well, Al Jahraa-7, was spudded on 25 May 2019 and reached a total depth of 3,970m MD in the Kharita formation on 23 June 2019. Initial petrophysics indicated pay in the following intervals:

Abu Roash-C

Net Pay: 7m

Abu Roash-E

Net Pay: 4m

Upper Bahariya          

Net Pay: 9m

Lower Bahariya_1

Net Pay: 6m

Lower Bahariya_2

Net Pay: 5m

A series of well tests of the Abu Roash-E and Bahariya reservoirs has commenced, initially with the rig on location and subsequently following the release of the rig. These operations remain ongoing.

Al Jahraa-12 (formerly WI-1)

The third Al Jahraa field development well (Al Jahraa-12) of this campaign was spudded on 4 August 2019. The well is being drilled as a deviated hole to appraise the Abu Roash-C downdip of the Al Jahraa-3 well and in the water leg. In addition, it will further explore the potential of the Bahariya reservoirs. The well is anticipated to take around 55 days to drill, test and complete.

READ
Coro Energy PLC (LON:CORO) Tambak-1 Operational Update

Current production from Abu Sennan is approximately 5,100 boepd gross (1,120 boepd net to Rockhopper’s 22% working interest).

Rockhopper’s disposal of Rockhopper Egypt Pty Limited, as announced on 23 July 2019, is subject to satisfaction of customary conditions precedent and is expected to complete during Q4 2019.

 


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