(AIM: UJO)
Completion of drilling - Laughton-1 Well PEDL209
The Laughton-1 well was spudded on 12 February and has reached a total depth of 1,700m in line with the pre-drill prognosis. During drilling, the well recorded hydrocarbon shows from a number of potential reservoir sequences including the Kilburn Sandstone, Chatsworth Grit, Ashover Grit and Kinderscout Grit. The Silkstone Rock primary objective was poorly developed in the well. Analysis of the wireline log data indicates that the hydrocarbon saturations associated with the shows are not sufficiently encouraging to warrant testing.
The well is currently being plugged before the drilling rig is released from contract and in due course the wellsite will be fully restored to its original condition as agricultural land.
Following the drilling of Laughton-1 the licence interests in the Laughton Prospect and the two other conventional prospects in PEDL209 are
Egdon Resources U.K. Limited: 50%
Blackland Park Exploration Limited: 28%
Stelinmatvic Industries Limited: 12%
For further information please contact:
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+44 (0) 77871 60682 |
Shore Capital Nominated Adviser Anita Ghanekar Corporate Broking |
+44 (0) 20 7408 4090 |
SP Angel Joint Broker
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+44 (0) 20 3470 0470 |
Public Relations
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+44 (0) 7768 537 739 +44 (0) 7799 003 220 |
This information is provided by RNS