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The ASW-1X well was drilled to a Total Depth of 3,640 metres, 10 days ahead of schedule and under budget. Although the well encountered net reservoir in the Abu Roash, Bahariya, and
The well will now be plugged and abandoned and the Sino Tharwa-1 rig will be mobilised to drill the first well of the 2023 drilling campaign. This will be the ASH-8 development well, targeting an undrilled area of the ASH field.
Details of the 2023 drilling programme will be given within our trading statement due to be issued in late January.
United Chief Executive Officer,
‘Although the results of the ASW-1X well are disappointing, the JV partners are positive about the remaining prospectivity on the licence and will continue to deliver the maximum value from it. We are looking forward to the 2023 drilling campaign, which will initially focus on further development of the asset by the drilling of ASH-8 followed by the ASD-3 well. These development wells are targeting the most prolific areas of the Abu Sennan licence, to maximise production before the drilling of at least one further exploration well in Abu Sennan later in the year. We look forward to updating the market with further details of planned activity across our portfolio later in January.’
This announcement contains inside information for the purposes of Article 7 of Regulation 2014/596/EU which is part of domestic
Contact:
CEO
E: brian.larkin@uogplc.com
Head of IR & ESG
E: sharan.dhami@uogplc.com
Nominated Adviser
T: +44 (0) 20 7628 3396
Joint Broker
T: +44 (0) 020 7186 9030
Joint Broker
T: +44 (0) 20 3137 1902
Camarco
Financial PR
T: +44 (0) 20 3757 4983
E: uog@camarco.co.uk
The business is led by an experienced management team with a strong track record of growing full cycle businesses, partnered with established industry players and is well positioned to deliver future growth through portfolio optimisation and targeted acquisitions.
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