UKOG sees oil potential in offshore Isle of Wight area

UK Oil & Gas Investments says its initial subsurface analyses of southern England license P1916 confirm the potential for significant unrisked hydrocarbon volumes in the M prospect.

Mar 26th, 2015

Offshore staff

LONDONUK Oil & Gas Investments says its initial subsurface analyses of southern England license P1916 confirm the potential for significant unrisked hydrocarbon volumes in the M prospect.

The location is in the offshore and onshore transition area along the southwest coast of the Isle of Wight.

UKOG assesses possible oil in place for the main prospective Portland limestone and Triassic Sherwood sandstone reservoir objectives – the same formation that hosts the giant Wytch Farm onshore/offshore oil reserves to the west, operated byPerenco – at 40 MMbbl and 76.5 MMbbl, respectively.

A gas-only case for the Triassic Sherwood shows most likely in-place resources of 197 bcf.

The company is working on volumetric estimates for additional identified reservoir objectives including limestones within the Kimmeridge Clay formation, as encountered in its recent onshore Horse Hill-1 discovery well; and the Corallian Osmington Oolites. Initial electric log analyses indicate these are oil saturated in the nearby onshore Arreton-2 well.

03/26/2015

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