The Application details the planned construction, operation and eventual decommissioning of a well site for the appraisal of hydrocarbons via a deviated borehole, plus a possible horizontal sidetrack off the ‘mother’ borehole – all to be undertaken within a temporary period of 3 years.
UKOG says it has spent considerable time and undertaken much research to minimise the potential noise and visual impact of the site, which will be largely screened from public view. The Company has chosen a site adjacent to land which already supports non-agricultural commercial uses. The land immediately to the east supports the Wight Farm Anaerobic Digestion Energy Power Station and to the west supports the Blackwater Quarry and ancillary operations connected to the working of aggregates.
The oil discovery site will be situated off of Blackwater Road under St George’s Down.
As reported in the Company’s July 2018 AIM admission document, the Arreton conventional oil discovery, a geological analogue of the Company’s Horse Hill oil field (UKOG net 85.635%), contains three stacked Jurassic oil pools containing a third party (Xodus) calculated aggregate gross P50 oil in place of
It is thought that some 127 million barrels of oil are contained within 3 stacked Jurassic oil pools.
Stephen Sanderson, UKOG’s Chief Executive, commented:
“Whilst UKOG’s primary focus will remain on maintaining continued long-term stable and profitable oil production at Horse Hill, our efforts will also continue with those actions necessary to ensure that both the Arreton oil and Loxley gas appraisal projects move forwards as swiftly as the current UK situation permits.”