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Market disappointed with UK Oil & Gas update

By BFN News | 08:32 AM | Wednesday 27 December, 2017


UK Oil & Gas Investments said operations would shut down until the New Year at its Broadford Bridge-1z exploration discovery and updated on recent events. It said the Basal KL3 test has been re-run following mechanical problems. Initial natural flow of approximately 300 barrels of returned completion fluids per day (bfpd) decreased to a continuous rate of 30 to 50 bfpd during well clean-up. Gas blow and live oil traces recovered to the surface. The company said low reservoir productivity indicates the zone may not be economically viable. At 8:32am: (LON:UKOG) UK Oil Gas Investments Plc share price was -0.95p at 3.03p Story provided by StockMarketWire.com

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