After waiting for months, UKOG finally conducted a flow test on its Horse Hill site in early February. The results, while not spectacular, was better than expected, as the Lower Kimmeridge zone delivered 456 bopd after choking back with a 24/68 inch choke. Initial flow was 700 bopd.
UKOG is now preparing to conduct similar flow test in the Upper Kimmeridge zone and the Portland Sandstone.
A BUY recommendation on UKOG was initiated in September 2014 at 1.19 pence. With yesterday's closing price at 2.38 pence, this is equivalent to a gain of 100% since.
My disclosure: O own UKOG.
No comments:
Post a Comment