UKOG Announces Turkey Phase 2 Seismic Completed

Source: www.gulfoilandgas.com 9/16/2022, Location: Europe

UK Oil & Gas PLC (UKOG) is pleased to announce that acquisition of the Phase 2 seismic programme over its Turkey Resan licence (UKOG 50% interest) has now been successfully completed and the field crew demobilised. The programme, consisting of four new 2D seismic lines over the possible updip western extent of the Basur-1 oil discovery and Prospect B to the south, was delivered ahead of schedule and under budget.

Once the seismic has been processed, final versions received in house, interpreted and a new top reservoir map made, the Company will provide a further update of the results. The Company will then focus firmly upon the delivery of a new Basur appraisal well, now anticipated to be able to add near-term oil production to the Company in H1 2023. It should be noted that Turkey's Petroleum Law enables a successful oil well to be put into full time production within days to weeks of a successful test.


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