Extended Well Test and Regulatory Update

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connected oil in place	A volume of OIP that is demonstrated by reservoir pressure and flow data to be directly accessed and drained by a well during production. Only part (or a fraction) of the volume, known as the recoverable volume, will normally be recovered to surface during oil production. The percentage of the recoverable volume compared to the total connected OIP is known as the recovery factor for that well.
discovery	a discovery is a petroleum accumulation for which one or several exploratory wells have established through testing, sampling and/or logging the existence of a significant quantity of potentially moveable hydrocarbons
extended well test	a well test, as per the permission granted by the Oil and Gas Authority, with an aggregate flow period duration over all zones of greater than 96 hours and up to 90 days maximum
flow test	a flow test or well test involves testing a well by flowing hydrocarbons to surface, typically through a test separator. Key measured parameters are oil and gas flow rates, downhole pressure and surface pressure. The overall objective is to identify the well's capacity to produce hydrocarbons at a commercial flow rate
oil in place	the quantity of oil or petroleum that is estimated to exist in naturally occurring accumulations.

Asset	Licence	UKOG Interest	Licence Holder	Operator	Area (km²)	Status
Avington ¹	PEDL070	5%	UKOG (GB) Limited	IGas Energy Plc	18.3	Field currently shut in
Broadford Bridge ⁴	PEDL234	100%	UKOG (234) Ltd ⁴	UKOG (234) Ltd ⁴	300.0	BB-1 & 1z oil discovery, planning application approved
Holmwood ³	PEDL143	40%	UKOG	Europa Oil & Gas (Holdings) plc	91.8	Seeking alternate sites to drill Holmwood and other Kimmeridge prospects
Horndean ¹	PL211	10%	UKOG (GB) Limited	IGas Energy Plc	27.3	Field in stable production
Horse Hill ⁵	PEDL137	46.735%	Horse Hill Developments Ltd ^⁶	Horse Hill Developments Ltd ^⁶	99.3	Production tests ongoing, 2 further appraisal wells scheduled for 2018/19
Horse Hill ⁵	PEDL246	46.735%	Horse Hill Developments Ltd^⁶	Horse Hill Developments Ltd ^⁶	43.6	As above
Isle of Wight (Onshore) ^{2, 3}	PEDL331	65%	UKOG	UKOG	200.0	Preparing planning submission for Arreton-3 oil appraisal well and Arreton South exploration well
Markwells Wood ²	PEDL126	100%	UKOG (GB) Limited	UKOG (GB) Limited	11.2	Revised drilling and testing planning application underway

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