Proactive Investors - Run By Investors For Investors

Horse Hill flow test blows away expectations

A seven hour test yielded initial unassisted flow rates of 463 barrels of oil per day from one of two intervals in the well’s deeper Kimmerage limestone play.
Horse Hill flow test blows away expectations
Initial flows were ahead of expectations.

The Horse Hill discovery well, near Gatwick airport, has flowed light oil to surface from the one of the intervals within its deeper hybrid oil zone.

An initial instantaneous flow of fluid, approximately 50% oil and 50% water, was measured at a rate of 700 barrels per day from the Lower Kimmeridge limestone interval, before a subsequent seven hour test period measured a flow rate of 463 barrels of oil per day.

The flow during the seven hour test comprised 99% oil.

Neil Ritson, chairman of Solo Oil (LON:SOLO), a 6.5% stakeholder in the project, described the result as “extremely encouraging” and highlighted that the results have exceeded expectations for natural flow from the Kimmerage limestone.

The Kimmeridge limestone intervals are part of hybrid play in the deeper part of the Horse Hill well, which has been the subject of a number of very large resources estimates in recent months.

In a separate statement, UK Oil & Gas (LON:UKOG) executive chairman Stephen Sanderson said the successful flow testing was a “very significant” event.

“Importantly, tests so far show oil has flowed to the surface under its own pressure and has not, so far, required artificial lift.

“The flow test, the first ever in the Lower Kimmeridge limestone within the Weald basin, provides proof that significant quantities of moveable oil exist within the Kimmeridge section of the well and can be brought to surface at excellent flow rates.

“In this case from a vertical well with minimal stimulation.”

Sanderson further highlighted that future plans would involve horizontal wells and conventional reservoir stimulation techniques so flow rates could be even higher in future wells.

Another test will be carried out on the Lower Kimmeridge today, starting at 7:00am, and subsequently other parts of the well will also be tested.

At the Lower Kimmeridge an 80 foot zone was tested at a depth of 900 metres. An Upper Kimmeridge zone, located at a depth of 840 metres, will be tested and the shallower Portland sandstone reservoir, at 615 metres, will be tested too.

Sanderson told UKOG investors that the Horse Hill partners now intend to start the process for regulatory permitting, as they seek to demonstrate sustainable commercial production.

UKOG has a 20.1% interest in Horse Hill.

Aside from Solo and UKOG the other AIM quoted Horse Hill stakeholders include Doriemus (LON:DOR), Alba Minerals (LON:ALBA), Stellar Resources (LON:STG), and Evocutis (LON:EVO).

Why Invest In Solo Oil PLC? Read More Here

Register here to be notified of future SOLO Company articles
View full SOLO profile

Solo Oil PLC Timeline

September 12 2016

Related Articles

Offshore oil operations, Ireland
July 11 2016
Arnstein gives some 10.3p per share for his net valuation Lansdowne’s stake in Barryroe, including 6p per share for an initial development which would target 70mln barrels of oil.
Offshore oil operations
June 30 2016
The Toronto Ventures quoted oil explorer has a 40% stake in the neighbouring block, and as such feels a significant boost along with the rest of Guyana’s emerging oi sector.
One of Iofina's plants in Oklahoma where it produces iodine from brine water taken as by product from oil fields
July 12 2016
Iofina shares have rallied over 180% since April. A new debt deal and the prospect of improving markets bode well for the AIM group's continuing recovery.

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.