Portland Declared Commercially Viable

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depletion-drive	a natural mechanism whereby the differential pressure between the wellbore and reservoir permits dissolved solution gas to expand and become an energy support to create oil flow into a well. It is also known as solution gas drive or dissolved gas drive.
connected oil in place	a volume of OIP that is demonstrated by collected 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.
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
horizontal well	a well that during drilling is steered so as to be at or close to 90 degrees from the vertical to follow a particular geological stratum or reservoir unit
oil in place ("OIP")	the quantity of oil or petroleum that is estimated to exist in naturally occurring accumulations.
pressure support or voidage replacement	maintenance of reservoir pressure as close to virgin reservoir pressure as possible and above bubble point via injection of saline formation water into the reservoir. The injected water increases oil recovery via maintaining maximum depletion drive energy (see above) and displacing oil from reservoir pores towards the wellbore. The mechanism is also referred to as voidage replacement. Full pressure support or "full voidage replacement" means that the overall volume of saline formation water injected is equal to the volume of oil extracted.
recoverable volumes or resources	those quantities of petroleum (oil in this case) estimated, as of a given date, to be potentially recoverable from known accumulations
reserves	those quantities of petroleum anticipated to be commercially recoverable by application of development projects to known accumulations from a given date forward under defined conditions. Reserves must further satisfy four criteria: they must be discovered, recoverable, commercial, and remaining (as of the evaluation date) based on the development project(s) applied. Reserves are further categorised in accordance with the level of certainty associated with the estimates and may be sub-classified based on project maturity and/or characterised by development and production status

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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