UK Oil & Gas PLC Turkey: B-3S Casing Mobilisation (8108A)
07 Febbraio 2022 - 7:59AM
UK Regulatory
TIDMUKOG
RNS Number : 8108A
UK Oil & Gas PLC
07 February 2022
UK Oil & Gas PLC
("UKOG" or the "Company")
Turkey: B-3S Casing Mobilisation
UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce
that it is preparing to transport its wholly owned casing stocks to
Turkey for use in the forthcoming Basur-3 ("B-3") mechanical
sidetrack ("B-3S"). Use of UKOG's casing in B-3S will reduce the
Company's net drilling cost and capital expenditure requirements,
as well as removing further storage costs.
Drilling of B-3S is scheduled to commence upon receipt and
interpretation of fast-track seismic processing results, currently
expected within the first quarter of 2022. First processing
priority has been given to Line 3, running directly along the
planned B-3S trajectory.
Stephen Sanderson, UKOG's Chief Executive commented:
"Our strategy at Basur-Resan centres around the cost effective
and timely establishment of an inaugural producing well within the
licence. Consequently, to ensure drilling commences as soon as
possible, we continue to advance drilling preparations concurrently
with Phase 1 fast track seismic processing. Drilling can then
commence directly after the processed data has been received and
interpreted."
For further information, please contact:
UK Oil & Gas PLC
Stephen Sanderson / Matt Gormley Tel: 01483 941493
/ Allen D Howard
WH Ireland Ltd (Nominated Adviser
and Broker)
James Joyce / Andrew de Andrade Tel: 020 7220
1666
Communications
Brian Alexander Tel: 01483 941493
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