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UKOG: Drilling update at 100% owned Broadford Bridge-1 Kimmeridge exploration well PEDL234 Licence, Weald Basin, UK

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Oilfield Technology,

UK Oil & Gas Investments PLC has announced that it has now drilled and cased-off the 12 ¼ in. hole section of its 100% interest Broadford Bridge-1 exploration well.

BB-1 has reached a measured depth of over 830 m and is now drilling ahead in 8½ in. hole towards the objective. An extensive conventional coring programme within the target Kimmeridge Limestone section is planned to commence next week. The well is now under budget and remains on schedule.

BB-1 is located near Billingshurst, West Sussex, within the 300 km² PEDL234 licence, in which the Company has a 100% interest via its ownership of the licence's operator, Kimmeridge Oil & Gas Limited. The well, an exploration step-out, is designed to penetrate four naturally fractured Kimmeridge Limestone units (KL1-KL4), the uppermost two units of which flowed at record rates in the Company's Horse Hill-1 discovery near Gatwick Airport.

The well will now continue to drill at a consistent inclination of 54° to vertical and at approximately 90° to the predicted orientation of open natural fractures in the KL1-KL4 reservoir section. The planned overall horizontal deviation of the well is approximately 1 km to the north-northeast of the well site. The Kimmeridge Limestones are expected to be encountered at a drilled depth of approximately 1300 - 1700 m, which equates to around 950 - 1200 m vertically below surface.

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