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UKOG Provides Update on Broadford Bridge-1 Kimmeridge Well

Source: www.gulfoilandgas.com 6/16/2017, Location: Europe

UK Oil & Gas Investments PLC (UKOG) has now drilled and cased-off the 12¼ inch hole section of its 100% interest Broadford Bridge-1 (BB-1) exploration well. BB-1 has reached a measured depth of over 830 metres and is now drilling ahead in 8½ inch hole towards the objective. An extensive conventional coring programme within the target Kimmeridge Limestone section is planned to commence next week. The well is now under budget and remains on schedule.

About BB-1

BB-1 is located near Billingshurst, West Sussex, within the 300 km² PEDL234 licence, in which the Company has a 100% interest via its ownership of the licence's operator, Kimmeridge Oil & Gas Limited. The well, an exploration step-out, is designed to penetrate four naturally fractured Kimmeridge Limestone units (KL1-KL4), the uppermost two units of which flowed at record rates in the Company's Horse Hill-1 discovery near Gatwick Airport.

The well will now continue to drill at a consistent inclination of 54 degrees to vertical and at approximately 90 degrees to the predicted orientation of open natural fractures in the KL1-KL4 reservoir section. The planned overall horizontal deviation of the well is approximately 1 km to the north-northeast of the well site. The Kimmeridge Limestones are expected to be encountered at a drilled depth of approximately 1300-1700 metres, which equates to around 950-1200 metres vertically below surface.

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