Client NewsUnited Oil and Gas plc: Spudding of the ASX-1X exploration well, Egypt
United Oil & Gas PLC (AIM: “UOG”), the growing oil and gas company with a portfolio of production, development, exploration and appraisal assets is pleased to announce the spudding of the ASX-1X exploration well in the Abu Sennan Licence (the “Licence”), Egypt on 14 August. United holds a 22% working interest in the Licence, which is operated by Kuwait Energy Egypt.
· Drilling of the ASX-1X exploration well commenced on 14 August 2021
· The well is located c. 7km to the north of the producing Al Jahraa field and will test a number of stacked reservoir targets
· In a success-case scenario, the well is expected to take up to 54 days to drill, test and complete
United’s Chief Executive Officer, Brian Larkin commented:
“There is considerable exploration potential in the Abu Sennan licence, and it is great to be actively drilling our second exploration well this year to further unlock that potential. We are delighted that the ASX-1X exploration well has been spudded and look forward to updating shareholders once the well has reached the target reservoirs.”
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