United Oil & Gas PLC (AIM:UOG, FRA:1UO) has released its latest positive well results from Egypt, with the Al Jahraa-8 (AJ-8) well flowing up to 2,819 barrels oil equivalent per day in testing.
Preliminary short-term tests yielded a maximum rate of 2,819 boepd, comprising 2,093 bopd and 3.63mln cubic feet of gas per day, and a rate of 1,433 boepd on a more constrained choke.
The results exceed the company’s pre-drill expectations for the well, which will now be brought onto production in the coming days.
"We are delighted to announce further positive news from the AJ-8 development well; continuing our run of success on the Abu Sennan licence,” said chief executive Brian Larkin. “With over 40m of net pay previously reported, the AJ-8 well was expected to flow at good rates, but it is great to have our expectations exceeded with these encouraging initial test rates recorded from the Lower Bahariya.”
"We will now work with our partners to bring the well on stream in the coming days, at a rate which will maximise the long-term production and contribute to our low cost production base.”
The drill rig will shortly now move some 7 kilometres north to drill the ASX-1X well on the Al Jahraa Field. Drilling is expected to start in the coming days.
United owns a 22% interest in the Abu Sennan licence which hosts the AJ-8 well and ASX-1X wells. The licence is operated by Kuwait Energy.