StockMarketWire.com - UK Oil & Gas said production volumes at the Horse Hill joint venture near England's Gatwick Airport had risen following a pressure build-up test.

Aggregate total Portland oil production at Horse Hill now exceeded now exceeds 20,500 barrels, the company said.

UK Oil & Gas has a 50.635% majority interest in the asset.

It said the Portland continued to produce at a stable rate of over 220 barrels of dry oil per day at a modest reservoir pressure draw-down.

No formation water had yet been produced to surface.

'The latest pressure build-up yielded significantly better than expected results, with little or no apparent pressure depletion compared to the last PBU in early April,' the company said.

'The potential positive impact on connected oil in place will therefore be thoroughly evaluated and reported in due course.'


At 8:22am: [LON:UKOG] UK Oil Gas Investments Plc share price was -0.08p at 1.03p



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