UK Oil & Gas Investments PLC has announced that Schlumberger has independently assessed the petrophysics of Horse Hill-1 well, located in PEDL137 in the Weald basin near to London Gatwick Airport.
The report, entitled Petrophysical Evaluation of the Horse Hill-1 Well, estimates an overall Oil in Place for the Jurassic section of the well to be 271.4 million bbls of oil per square mile. The total OIP comprises 16.2 million bbls of oil per square mile for the conventional Upper Portland Sand reservoir discovery and 255.2 million bbls of oil per square mile solely for the tight limestone and mudstone plays of the Kimmeridge, Oxford Clay and Lias.
Stephen Sanderson, UKOG's CEO, commented:
"This independent technical viewpoint adds further weight to the potential significance of the HH-1 well and the potential of the Horse Hill licences."
Adapted from press release by Joseph Green