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27: Stephen Sanderson, Chief Executive, UK Oil & Gas PLC (LON:UKOG)

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Manage episode 221590509 series 1128869
Content provided by Share Talk and Share Talk LTD. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Share Talk and Share Talk LTD or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

On the 15 November 2018, UKOG made a market announcement on the EWT (Extended Well Test) Portland & Kimmeridge Oil Discovery, Horse Hill-1, Weald Basin, UK. Share Talk spoke with Stephen Sanderson today and he explains in more depth the figures, technical released.

In Stephen own words "the Kimmeridge zone is alive and kicking" K3 limestone zone has been tested and is commercially viable with the rates we have produced. We are now testing the upper layer in K4 Kimmeridge Limestone Zone.

Looking at an average rate of production of 342 barrels per day, with various choke setting used we achieved a maximum rate of 902 barrels a day.

The results clearly show this is the best producing well onshore in the UK outside of Wytch Farm well.

UKOG is moving away from an exploration company, to production with rates that generate gross £20 million per year and looking to drill more multiple wells that will add further value to UKOG.

Full RNS 15th Nov 2018

  continue reading

1291 episodes

Artwork
iconShare
 
Manage episode 221590509 series 1128869
Content provided by Share Talk and Share Talk LTD. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Share Talk and Share Talk LTD or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

On the 15 November 2018, UKOG made a market announcement on the EWT (Extended Well Test) Portland & Kimmeridge Oil Discovery, Horse Hill-1, Weald Basin, UK. Share Talk spoke with Stephen Sanderson today and he explains in more depth the figures, technical released.

In Stephen own words "the Kimmeridge zone is alive and kicking" K3 limestone zone has been tested and is commercially viable with the rates we have produced. We are now testing the upper layer in K4 Kimmeridge Limestone Zone.

Looking at an average rate of production of 342 barrels per day, with various choke setting used we achieved a maximum rate of 902 barrels a day.

The results clearly show this is the best producing well onshore in the UK outside of Wytch Farm well.

UKOG is moving away from an exploration company, to production with rates that generate gross £20 million per year and looking to drill more multiple wells that will add further value to UKOG.

Full RNS 15th Nov 2018

  continue reading

1291 episodes

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