UK Oil & Gas PLC Pinarova-1 Testing Operations Commence (5334A)
23 January 2024 - 6:00PM
UK Regulatory
TIDMUKOG
RNS Number : 5334A
UK Oil & Gas PLC
23 January 2024
UK Oil & Gas PLC
("UKOG" or the "Company")
Pinarova-1 Testing Operations Commence
UK Oil & Gas plc (London AIM: UKOG) is pleased to announce
that following the delivery of both PSI's perforating and Aladdin
Middle East's ("AME") swab testing equipment to site, Pinarova-1
testing operations have now recommenced. PSI's larger 7-inch
perforation guns will be deployed following normal site rig up and
necessary safety and environmental checks. UKOG's site
representative will monitor and quality control the full
operational programme. Further updates will be issued in due
course.
The new larger 7-inch perforating guns, capable of fully
penetrating Pinarova's 95/8-inch casing, 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 42˚
API oil was recovered from the mud pit (see RNS of 22(nd) 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 km(2) 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
WH Ireland Ltd (Nominated Adviser and Broker)
James Joyce / James Bavister / Andrew de Andrade Tel: 020 7220
1666
Communications
Brian Alexander
Tel: 01483 941493
Glossary
degAPI a measure of the density of crude oil, as defined
by the American Petroleum Institute
discovery a petroleum accumulation for which one or several
exploratory wells have established through testing,
sampling and/or logging the existence of a significant
quantity of potentially moveable hydrocarbons
--------------------------------------------------------
oil seep a natural flow of crude oil at or close to the
earth's surface whose origin is from a petroleum
accumulation or oil source rock at depth.
--------------------------------------------------------
shot hole a shallow borehole in which a small amount of
explosive is detonated in order to generate a
seismic signal
--------------------------------------------------------
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END
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