UK Oil & Gas plc (UKOG) is preparing for the next drill stage to test whether the Pinarova-1 exploration well is fed by and connected to an underlying 9km2 light oil accumulation at the site in Turkey. SCHEDULE Following initial drilling, the company’s joint venture partner has set and cemented the well’s 9⅝ inch casing down […]
Tag: UK Oil & Gas plc (UKOG)
UKOG ahead of schedule at Pinarova-1 well
UK Oil & Gas plc (UKOG) is several days ahead of schedule after reaching its planned 9⅝ inch casing point at 291 metres below surface in the Pinarova-1 shallow oil exploration well in Turkey. PROGRAMME The 50-50 joint venture is testing whether the active 41.7˚ API light oil seep found in a seismic shot hole above the […]
UKOG tests for light oil accumulation in Pinarova-1
UK Oil & Gas plc has started testing its working hypothesis that the Pinarova-1shallow oil exploration well is connected to an underlying accumulation at the site in Turkey. OPERATIONS The 50-50 joint venture with operator Aladdin Middle East involves drilling a 12¼ inch diameter hole down to the first casing point at a depth of […]
UKOG records £2.9m impairment from Horse Hill-1
UK Oil & Gas plc (UKOG) recorded an impairment of £2.9 million of the Horse Hill-1 oil well near Gatwick Airport in Surrey. HORSE HILL The company’s annual review and accounts for the year ended 30 September 2022 states: “Following an impairment review carried out as at 30 September 2022, the net present value of […]
UKOG signs conditional farm-in for Horse Hill
UK Oil & Gas plc (UKOG) has signed a conditional binding term sheet for a farm-in with Pennpetro Energy plc for the Horse Hill oil field, 2km north of Gatwick airport in Sussex. PARTNERS The transaction, with the company’s subsidiaries UKOG Ltd (85.635%) and Horse Hill Developments Ltd (HHDL) (77.9%), will be on an incremental […]
UKOG looks to improved Horndean production rates
UK Oil & Gas plc (UKOG) expects improved production rates from new power-efficient surface pumps at the Horndean oil field 10 miles north of Portsmouth in Hampshire. LOWER COSTS The company holds a 10% share in PL211 which is operated by IGas plc. UKOG said its net share of oil sales revenues from the asset […]