UK Oil & Gas PLC Turkey: Pinarova-1 Testing Update (9829P)
2023年10月13日 - 3:00PM
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TIDMUKOG
RNS Number : 9829P
UK Oil & Gas PLC
13 October 2023
UK Oil & Gas PLC
("UKOG" or the "Company")
Turkey: Pinarova-1 Testing Update
UK Oil & Gas plc (London AIM: UKOG) is pleased to announce
that Aladdin Middle East, the Pinarova-1 operator, has advised that
the resumption of testing operations within the Germik/Hoya
sequence, utilising larger and more powerful 7-inch perforating
guns, capable of fully penetrating the well's 95/8-inch casing, is
expected in around 4 weeks once the guns are on site.
Testing will cover the section where strong oil odours at
surface were recorded over a 12-hour period during drilling and
mobile light oil was recovered from the mud pit. Subsequent
geochemical analysis revealed that the Pinarova mud pit oil is near
identical to and from the same source rock as the 42˚ API seismic
shot hole oil seep, located around 1.5 km to the west (see RNS of
22(nd) September 2023).
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 / Andrew de Andrade/James Bavister 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
-----------------------------------------------------------
source rock a sedimentary rock, usually a claystone, mudstone
or shale, which contains fossil organic matter
known as kerogen derived from the decomposition
of fossil phytoplankton, algae, bacteria and occasionally
plant material. When the kerogen is subjected
to increasing temperature and pressure through
burial over geological time, it is transformed
into hydrocarbons.
-----------------------------------------------------------
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
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