logo-loader
RNS
viewUnited Oil & Gas PLC

Colter Appraisal Well Results

/**/ link{ color: #0563C1 }visited{ color: #954F72 } .m{size:595.3pt 841.9pt;margin:72.0pt 72.0pt 72.0pt 72.0pt;}div.m{}p.av{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height: 17.0pt; text-align: center}span.at{font-family:"Calibri","sans-serif";color:black}p.aw{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";line-height:17.0pt}p.ax{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 17.0pt; text-align: center}p.ay{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";margin-top:13.2pt;margin-right:0cm;margin-bottom: 13.2pt;margin-left:0cm;text-align:justify;line-height:17.0pt}span.ap{font-family:"Calibri","sans-serif"}p.az{margin:0cm;margin-bottom:.0001pt;font-size:11.0pt;font-family:"Calibri","sans-serif";text-align:justify;line-height:17.0pt}span.an{font-size:12.0pt;color:black} span.am{font-size:12.0pt}p.ba{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-weight: bold; line-height: 17.0pt; text-align: justify}table.bb{width:458.5pt;margin-left:-10.8pt;border-collapse:collapse}td.aj{width:220.9pt;padding:0cm 5.4pt 0cm 5.4pt}p.bc{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";text-align:justify;line-height:17.0pt}td.ah{width:216.0pt;padding:0cm 5.4pt 0cm 5.4pt}p.bd{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";font-div: italic; line-height: 17.0pt; text-align: justify}span.ag{font-family: "Calibri","sans-serif"}tr.ad{height:3.5pt}td.af{width:220.9pt;padding:0cm 5.4pt 0cm 5.4pt; height:3.5pt} td.ae{width:216.0pt;padding:0cm 5.4pt 0cm 5.4pt; height:3.5pt}span.be{color:#0563C1;text-decoration:underline;font-family:"Calibri","sans-serif"}span.bf{color:#0563C1;text-decoration:underline;font-family: "Calibri","sans-serif"; text-decoration: none}span.aa{color:black}table.bg{width:455.7pt;margin-left:-10.8pt;border-collapse:collapse}tr.u{height:27.85pt}td.z{width:43.75pt;border:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:27.85pt}td.y{width:88.4pt;border:solid windowtext 1.0pt; border-left:none;padding:0cm 5.4pt 0cm 5.4pt;height:27.85pt}td.x{width:81.35pt;border:solid windowtext 1.0pt; border-left:none;padding:0cm 5.4pt 0cm 5.4pt;height:27.85pt}td.w{width:53.0pt;border:solid windowtext 1.0pt; border-left:none;padding:0cm 5.4pt 0cm 5.4pt;height:27.85pt} td.v{width:146.0pt;border:solid windowtext 1.0pt; border-left:none;padding:0cm 0cm 0cm 0cm;height:27.85pt}tr.o{height:1.0cm}td.t{width:43.75pt;border:solid windowtext 1.0pt; border-top:none;padding:0cm 5.4pt 0cm 5.4pt;height:1.0cm}td.s{width:88.4pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:1.0cm}td.r{width:81.35pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:1.0cm}td.q{width:53.0pt;border-top:none;border-left:none; border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; padding:0cm 5.4pt 0cm 5.4pt;height:1.0cm}td.p{width:146.0pt;border-top:none;border-left: none;border-bottom:solid windowtext 1.0pt;border-right:solid windowtext 1.0pt; padding:0cm 0cm 0cm 0cm;height:1.0cm}p.a,li.a,div.a{margin:0cm;margin-bottom:.0001pt;font-size:12.0pt;font-family:"Times New Roman","serif";} /**/
RNS Number : 9361Q
United Oil & Gas PLC
25 February 2019
 

United Oil & Gas PLC / Index: LSE / Epic: UOG / Sector: Oil & Gas

25 February 2019

United Oil & Gas PLC ("United" or the "Company") 

Colter Appraisal Well Results

United Oil & Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, is pleased to provide the following update on the Colter appraisal well ('the Well' or 'Colter'), currently being drilled by Corallian Energy Limited ('Corallian') in the P1918 licence in the Wessex Basin.  United holds a 10% interest in the licence.

The Colter well (98/11a-6) has been drilled as a vertical well with the Ensco-72 jack-up rig and has reached a Total Depth of 1870m MD in the Sherwood Sandstone. The Well is an appraisal of the 98/11-3 well, drilled in 1986 by British Gas, within the Colter Prospect. 

The 98/11a-6 well unexpectedly remained on the southern side of the Colter Prospect bounding fault but encountered oil and gas shows over a 9.4 metre interval at the top of the Sherwood Sandstone reservoir, a separate discovery to the original appraisal target. A petrophysical evaluation of the LWD data has calculated a net pay of 3 metres. Similar indications of oil and gas were encountered in the 98/11-1 well, drilled in 1983 by British Gas, within the Colter South fault terrace.

Provisional analysis of the new data indicates that the two wells may a share a common oil-water-contact having both intersected the down-dip margin of the Colter South prospect. Corallian's most recent assessment of the Colter South Prospect prior to drilling the 98/11a-6 well had estimated a mean recoverable volume of 15 mmbbls. Further work will be required to refine this assessment with the new well data.

The joint venture has commenced preparations to side-track the 98/11a-6 well. The side-track will be drilled directionally to a Sherwood Sandstone target within the Colter prospect on the northern side of the bounding fault and will take approximately two weeks to complete.

United Oil & Gas PLC CEO, Brian Larkin, said: "Initial results from Colter have delivered a bonus in the form of an additional hydrocarbon structure, which has excellent initial oil and gas shows.  This offers opportunity for future appraisal and to increase the overall value of the Colter licence for our shareholders. More work will be required to determine the resource potential within the structure, and we will update shareholders on the outcome of the side-track well in the coming weeks."

 

**ENDS**

 

For more information please visit the Company's website at www.uogplc.com or contact: 

 

United Oil & Gas Plc (Company)


Brian Larkin

[email protected]



Optiva Securities Limited (Broker)


Christian Dennis

+44 (0) 20 3137 1902



Beaumont Cornish Limited (Financial Adviser)


Roland Cornish and Felicity Geidt

+44 (0) 20 7628 3396



Murray (PR Advisor)

+353 (0) 87 6909735

Joe Heron

 

 

[email protected]



St Brides Partners (Financial PR/IR)


Frank Buhagiar and Juliet Earl

+44 (0) 207 236 1177







Notes to Editors

 

United Oil & Gas plc (UOG) is listed on the main market of the London Stock Exchange. United was established to explore, appraise and develop low risk assets in Europe and to develop higher risk, higher impact exploration projects in the Caribbean, Latin America and Africa.

 

The following table outlines the Company's licence interests:

 

 

Country

Licence

Operator

United Interest

 Next Stage of Development

Italy

Podere Gallina Licence

Po Valley Energy Limited

20%

CPR nearing completion

Infrastructure build 2019

Production in 2020

Further seismic to identify other opportunities in licence 2019

UK

Waddock Cross Field

Egdon Resources UK Limited

26.25%

CPR Published

Development drilling targeted in 2019

UK

PL090 Exploration

Egdon Resources UK Limited

18.95%

Technical work to de-risk exploration targets continuing

UK

P1918

Corallian Energy Limited

10%

Colter Drill Ongoing

Results currently under evaluation.

 UK

PEDL 330

Corallian Energy Limited

10%

Technical work to de-risk exploration targets continuing

UK

PEDL 345

Corallian Energy Limited

10%

Technical work to de-risk exploration targets continuing

UK

P2366

United Oil & Gas Plc

95%

CPR published

Seismic reprocessing underway ahead of likely Farm Down Process

Jamaica

Walton-Morant

Tullow Jamaica Ltd

20%

CPR published

Interpretation of Seismic ongoing ahead of Farm Down Process

 



 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
DRLTIMMTMBATTFL

Quick facts: United Oil & Gas PLC

Price: 3.175

Market: AIM
Market Cap: £10.97 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE