Last 0.43 GBp
Change Today 0.00 / 0.00%
Volume 3.1M
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As of 7:31 AM 12/24/14 All times are local (Market data is delayed by at least 15 minutes).

uk oil & gas investmen (UKOG) Snapshot

0.43 GBp
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0.43 GBp
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52 Week High
09/26/14 - 1.78 GBp
52 Week Low
12/15/14 - 0.32 GBp
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-0.0020 GBp
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uk oil & gas investmen (UKOG) Details

UK Oil & Gas Investments PLC, an investment holding company, focuses on seeking investments in the conventional oil and gas sector in the United Kingdom. The company was formerly known as Sarantel Group PLC and changed its name to UK Oil & Gas Investments PLC in December 2013. UK Oil & Gas Investments PLC is based in London, the United Kingdom.

3 Employees
Last Reported Date: 11/18/14

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uk oil & gas investmen (UKOG) Key Developments

UK Oil & Gas Investments plc Announces Horse Hill-1 Oil Discovery Update

UKOG announced that, as a result of the analysis and integration of subsurface data from the Horse Hill-1 ('HH-1') discovery well, in which it holds a net attributable interest of 14.56%, the calculated estimates of the discovered most likely gross oil initially in place ('OIIP') within the overall Upper Portland sandstone conventional reservoir in the HH-1 and Collendean Farm-1 ('CF-1') structure have increased by over 250% from the 3.1 million barrels ('mmbbls') reported on 24 October 2014, to a current most likely OIIP of 8.2 mmbbls. Similarly, calculated estimates of low case (P90) discovered OIIP has increased by nearly 400% to 5.7 mmbbls and high case (P10) OIIP volumes show a 250% increase to 12.1 mmbbls. In addition, the results of electric log analysis in the HH-1, CF-1 and other regional wells to the south of PEDL 137 ("Licence"), combined with ongoing geochemical analysis of HH-1 samples, indicate that the key elements of a conventional Upper Jurassic Limestone oil play have been demonstrated to extend into the southern part of the Licence. The HH-1 well demonstrates the presence of limestone porosity adjacent to, both overlying and underlying, thermally mature super-saturated world-class oil source rocks within a 1,496-foot gross interval of the Upper Jurassic Kimmeridgian Clay Formation between 2,224 feet and 3,720 feet TVDss. Integration of the Vertical Seismic Profile data from the HH-1 well has enabled a revised interpretation of available 2D seismic data to be made over the geological structure containing the HH-1 discovery. The current seismic interpretation is strongly indicative that the Upper Portland oil pool, discovered by HH-1, is most likely part of a larger geological structure containing the CF-1 well to the north drilled by Esso in 1964. The HH-1 well penetrated an unexpectedly thick 1,496-foot gross interval of the Upper Jurassic Kimmeridge Clay Formation between 2,224 feet and 3,720 feet TVDss. The sequence contains predominantly organically rich high gamma-ray hot shale, inter-bedded with two regionally correlatable limestone units. Preliminary examination of cuttings indicates the limestones are coccolithic argillaceous micrites. The mud log showed elevated gas readings above the upper limestone (KC Micrite 1) and weak oil shows were reported within the limestone. The KC Micrite 1 encountered at 2,510.4 feet TVDss has a gross thickness of 113 feet and electric log analysis indicates the development of 37 feet of net porosity greater than 5%. A continuous oil saturated zone of approximately 20 feet below 2,550 feet TVDss is calculated. Average total porosity within the hydrocarbon zone is calculated at 6.4% and is dominated by secondary porosity. Re-examination of the HH-1 mud log shows that gas levels increase significantly 60 feet above the Kellaways Sandstone, continue throughout the 47-foot gross sand interval and immediately drop off within the underlying Great Oolite limestone. No observed oil shows were recorded within the Kellaways Sandstone. Geochemical analyses of samples from the Oxford Clay demonstrate that the section directly above the Kellaways Beds is thermally mature for oil generation (Ro of greater than 0.81%) and contains potential generative oil source rocks with TOCs of 1.9 to 2.9%. Electric logs are now being evaluated in more detail, to determine whether potential oil saturations lie within the Kellaways Sandstone.

UK Oil & Gas Investments PLC Announces Audited Consolidated Earnings Results for the Year Ended September 30, 2014

UK Oil & Gas Investments PLC announced audited consolidated earnings results for the year ended September 30, 2014. For the period, the company reported turnover of £7,000. Loss from operations was £889,000 compared to £249,000 a year ago. Loss before taxation was £907,000 compared to £2,479,000 a year ago. Retained loss for the financial year was £907,000 compared to £2,479,000 a year ago. Basic and diluted LPS was 0.11 pence compared to 0.26 pence a year ago. Net cash outflow from operating activities was £1,207,000 compared to £135,000 a year ago.

UK Oil & Gas Investments PLC Announces Horse Hill-1 Provisional Results at Total Depth

UK Oil & Gas Investments PLC announced that the Horse Hill-1 well was successfully completed with a discovery in the Jurassic and has reached total depth (TD) at 8,770 feet measured depth (MD) in rocks of pre-Triassic Palaeozoic age, which were prognosed at that depth. The well has been electrically logged from the previous casing point to TD and a vertical seismic profile (VSP) has been acquired to correlate the well to the available 2D seismic data. The logs are now being analyzed along with all other relevant data from the well and the initial results are set out below. In addition, the well is currently being prepared for future flow testing in the identified Jurassic age Portland Sandstone discovery. Portland Discovery: The well is currently being prepared for testing and as a probable future oil production well from the Portland Sandstone oil discovery, where, as announced on 24 October 2014, a preliminary most likely estimate of 3.1 million barrels (mmbbls) of gross in place oil has been calculated within the upper Portland from a 102-foot gross oil column, with a further most likely unrisked undiscovered gross oil in place volume of 16.8 mmbbls in a separate lower sand in the Portland interval located in an untested fault block immediately to the south. On completion of the analysis of the electric logs and the VSP, Horse Hill Developments Ltd. (HHDL) as operator, intends to apply to the Department of Energy and Climate Control (DECC) for permission to carry out a flow test on the Portland Sandstone. Kimmeridge Limestone Potential: Geochemical studies, to determine oil source rock richness and thermal maturity, are being conducted on rock samples from the Kimmeridge Clay, Oxford Clay and Liassic Shale formations encountered in the well. The geochemical analyses will be integrated with other data in order to evaluate the potential for Horse Hill-1, and the area to the southwest, to have generated hydrocarbons resulting in the trapping of oil in the Portland and other reservoir objectives within the southern area of PEDL 137. Preliminary analysis of samples from the Kimmeridge Clay immediately below the Portland Sandstones, in a section which also contains oil shows and multiple limestone sections individually up to 105 feet in thickness, have higher than expected oil source potential with a measured total organic carbon content (TOC) of over 5% by weight. The operator continues to investigate the conventional potential of the Kimmeridge Limestones in a possibly analogous situation to the nearby Balcombe oil discovery.


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