Solo Oil says that its technical alliance partner in the Horse Hill discovery in the UK Weald Basin, UK Oil and Gas Investments plc, has released a further update based on the technical work being conducted by UKOG and the Xodus Group.
UKOG has announced a substantial upgrade to the previously announced conventional Stock Tank Oil Initially in Place volumes estimated for the overall Upper Portland Sandstone conventional reservoir in the Horse Hill-1 and Collendean Farm-1 structure within the PEDL137 licence area in the Weald Basin, where Solo holds a 6.5 percent interest. This revised STOIIP is separate to the oil-in-place volumes estimated for the argillaceous limestones and mudstones of the Kimmeridge, Oxford and Lias rock sections of the HH-1 well, reported on 9 April and 15 April 2015.
An independent study of the Portland Sandstone reservoir has been conducted for UKOG by Xodus Group an international energy consultancy based in the UK. The study is based on new petrophysical evaluations of both the HH-1 discovery and the older CF-1 well, plus an updated interpretation of 2D seismic data across the licence and is available on UKOG's website.