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UK Oil & Gas Investments updates on KL4 core samples

By BFN News | 01:29 PM | Friday 23 June, 2017

UK Oil & Gas Investments has reported that mobile light oil has been observed seeping from open natural fractures in Kimmeridge Limestone 4 ("KL4") core samples at its 100%-owned Broadford Bridge-1 ("BB-1") exploration well. The KL4 samples, at a measured depth of around 4080 feet, exhibit a strong oil odour plus the rock matrix is oil saturated and heavily oil stained. Wet gas readings also increased significantly at the top of the KL4. Both the KL4 and overlying shales exhibit a high degree of natural fracturing. Coring operations continue through KL4. The Company added that the well remains on schedule and under budget. Stephen Sanderson, UKOG's Executive Chairman commented: "I am privileged and excited to have seen, smelt and touched the oil in the KL4 samples today, alongside UKOG's management and operations team. This is a significant and positive result at such an early stage in the well. Whilst this is still early days, the presence of mobile oil within a Kimmeridge geological feature that has no structural oil trapping configuration, demonstrates that both BB-1 and Horse Hill-1 could be part of the same Kimmeridge continuous oil deposit. This oil deposit may therefore extend over 30 km from north to south across the Weald Basin. We will now continue our coring and drilling programme and then move to an extended flow testing operation upon the grant of the remaining necessary regulatory permissions." At 1:28pm: (LON:UKOG) Uk Oil Gas Investments Plc a Ord 0.01p share price was +0.55p at 1.73p Story provided by

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