U.S. Oil & Gas Plc.
“U.S. Oil” or the “Company”)
Operations Update: Eblana #1
U.S. Oil & Gas plc (GXG: USOP), an oil and gas exploration company focused on Nevada, USA, is pleased to announce that ground operations for the workover programme on its Eblana #1 well will begin on 27th August, 2012, with production testing to commence on September 4th.
After reviewing all available well data, the well workover plan has been finalised , including a formation simulation and production testing programme for depths from 5,500 to 8,400 feet.
The plan was prepared by Karim Akwari, petroleum geologist; Saad Saleh, drilling engineer; and Soran Talabani, petrophysicist. Review was by Diyar Barzanji, reservoir engineering, management and simulation; Serdar Kaya, reservoir engineering and simulation; Tim Howard, reservoir management, drilling; and H. J. Saleh, drilling engineer. The combined industry experience of the reviewers is over 200 years.
The production testing programme will involve:
1. Up to 15 potential reservoir zones
5. Enzyme stimulation
Flow testing will include measurement of well head flowing pressure, well head closed-in pressure, fluid
temperature at the surface, fluid flow rate, and gas flow rate through the flare.
A number of additional contractors, including Baker Hughes and Schlumberger, will be available to provide expertise as and when required. On completion of the workover, the data collected will be provided to Forest Garb & Associates and others for independent analysis.
U.S. Oil CEO Brian McDonnell said, “Our successful drilling of Eblana #1 generated large amounts of data and identified a large number potential pay zones. Designing the follow-on workover programme was complex, but we are satisfied with the resulting operational plan and are confident that the next stage can be executed in the most efficient and effective way possible. We would like to thank our expert team for their outstanding work during this exercise and thank our shareholders for their continued patience as we move forward with the next stage of our programme in Hot Creek Valley.”
THE DIRECTORS OF THE COMPANY ACCEPT RESPONSIBILITY FOR THE CONTENTS OF THIS ANNOUNCEMENT
For further information contact:
U.S. Oil & Gas plc
Brian McDonnell, Chief Executive Officer +353 (0) 872383419
Lionsgate Communications – Financial Public Relations
Jonathan Charles +44 (0)7791892509
Notes to Editors
U.S. Oil & Gas plc is a GXG quoted (Ticker: USOP) oil and gas exploration company with a strategy to identify and acquire oil and gas assets in the early phase of the upstream life-cycle and mature them. The Company’s main asset is in Nye County, Nevada where it holds the entire share capital of US-based company Major Oil International LLC (“Major Oil”). Major Oil has acquired rights to exploration and development acreage in Hot Creek Valley, Nye County, adjacent to the oil and gas rich Railroad Valley area of Nevada, both of which are part of the Sevier Thrust of central Nevada and western Utah, USA.
For further information please refer to our website at: www.usoil.us
U.S. Oil & Gas PLC