Completion of Portland High Rate Flow Test
Horse Hill-1 ("HH-1") oil discovery,
· Portland short-term high rate tests achieve stable implied equivalent daily pumped rates of 401 and 414 barrels of oil per day ("bopd") of dry 36 API oil over two periods of 6 and 2 hours, respectively. Maximum instantaneous half-hourly pumped rates of 441 and 470 bopd.
· The maximum rate recorded was limited by the rod pump's maximum rate capacity of approximately 470 bopd. Higher capacity rod pump sourced and mobilised for use at HH-1.
· Metered daily oil rates and recovered Portland volumes, to date, exceed 2016 test values.
· Associated solution gas rates of around 41,000 cu ft per day.
· Forward extended well test ("EWT") programme includes flow optimisation necessary to determine the maximum sustainable long-term flow rate and a lengthy stabilised flow period to test whether the well accesses a commercially viable oil volume.
· The primary EWT objective, to establish the commerciality of the Kimmeridge Limestone 3 & 4 oil pools, will follow directly after the completion of the Portland test sequence.
As maximum initial rates were restricted by the pump's capacity of around 470 bopd, a larger capacity pump has been sourced and has been mobilised to site for possible use during the remainder of the Portland test sequence.
To date, the recorded implied daily oil rates and overall produced Portland oil volumes exceed those reported from the initial short-term test programme of
It should be noted that the above high rate results are not the long-term sustainable flow rates that will be utilised to assess the Portland's commercial viability as part of the next test phase.
Forward EWT Plans
Following a planned further short restricted flow period and pressure build up test, flow will be further optimised to determine the well's sustainable long-term production rate and to test whether the well can recover a commercially viable volume of oil.
The primary EWT objective of testing the two underlying Kimmeridge Limestone 3 & 4 oil pools, which in 2016 flowed 40 API crude naturally to surface at an aggregate implied stable dry oil rate of 1,365 bopd, will commence directly after completion of the Portland test.
Further updates will be provided as the EWT progresses.
The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014.
The directors of
For further information, please contact:
+44 20 7440 0640
James Caithie /
+44 20 7213 0880
Peterhouse Corporate Finance
+44 20 7469 0930
This information is provided by RNS, the news service of the