Industry

“Disappointing” pause on UKOG’s Turkish well

Work has paused on UKOG’s Turkish well after the drilling assembly became stuck.

Drilling UKOG’s Basur-3 well in Turkey. Photo: UK Oil & Gas plc

A statement from the company today said the component was successfully recovered but the section of well was considered “unsuitable for onwards drilling”.

A sidetrack well is now planned in the well, Basur-3, to test the Garzan and Mardin targets.

But UKOG said to ensure the sidetrack was “optimally located” any drilling would be paused until after the previously-planned acquisition and processing of new seismic data.

UKOG has a 50% non-operational stake in the Resan licence, which includes the Basur oil field. The operator is the US company, Aladdin Middle East (AME).

UKOG’s chief executive, Stephen Sanderson, said today:

“Clearly the unforeseen delay in delivering the Basur appraisal objective is disappointing, but we remain pleased by AME’s exemplary performance in resolving the stuck drilling assembly situation. We concur with AME that the most prudent course of action is to pause commencing the sidetrack until new modern seismic can be incorporated to further de-risk drilling and help achieve our objective.”

In May 2021, UKOG described by the Basur project as the “focus of the Company’s 2021 activities”.

Last month, AME reported good progress on Basur-3, saying it had successfully cementing the well’s casing to a depth of 1,204ft.

10 replies »

  1. Hahaha, all those years of “Experience “ and can’t drill a hole in the ground, how very like Broadford Bridge, UKOG we’re careful not to mention problems before raising the funds by diluting with more confetti shares , not to mention the £400k in the “Special “ share offer to mug punters at 0.18p , currently
    Share Price:
    0.145
    Bid:
    0.135
    Ask:
    0.145
    Change:
    -0.0175 (-10.77%)
    Never mind, old Salmon Slacks will still be getting paid his salary.
    Also very noticeable that the recent RNS about directors buying shares turned out to be rubbish.
    Anyone might think that they knew it was going to drop

  2. Oh dear Jono!

    UKOG were not doing the drilling.

    Once again, in your haste to post [Edited by moderator] you couldn’t wait to check the facts. AME is the operator.

    • AME are not doing the drilling. That is being carried out by Oceanmec.

      As an aside, UKOG have been very quiet about not getting the 3 new licences they applied for with AME back in December. They were awarded to TPAO.

      • But AME will be calling the shots as the operator. 60 years drilling experience in SE Turkey, where did that come from?

  3. Oh Martin, you really think I didn’t know that ? UKOG paid for a bunch of cowboys to drill it for them, ah well ( or no well ) it’s just another wasted £1 million but who cares . So what’s your view of the fact that none of this was mentioned when it happened?
    Photos of worn drill bit on Twitter just to reel in the mugs [edited by moderator]
    I’m so pleased that it’s all gone Pete Tong 🤣🤣🤣🤣🤣🤠🤠🤠🤠🤠

  4. Yes, I think you didn’t know that, otherwise you would have not posted about all those years of experience, which is not relevant if someone else is the operator.

    What are you on about “reel in mugs”? The well was funded. No need to reel in anyone. You may be pleased, but accurate-not.

    • If you read the RNS instead of trying to score points Martin you will see what everyone else saw, please feel free point out where I said UKOG did the drilling?

      AME have almost 60 years of operational drilling experience in the naturally fractured and tectonically stressed rocks of SE Turkey. Since AME’s discovery of the nearby look alike E. Sadak field in late 2013, they have successfully drilled 12 wells plus 3 sidetracks in the field.

      • Fake news, Jono. Twice.

        If you read the information you will learn the reality, as you know, which is why “everyone” suddenly emerged.

        “can’t drill a hole in the ground” “all those years of experience”-but the two were not connected, were they!

        No, I am not out to score points, but would prefer when the information is there it is correctly represented. Goodness, I am questioned when I do quote correct information. A level playing field is not expected, but you expect a pretty decent slope on your side.

        However, if you feel it is okay to portray the antis as so willing to resort to incorrect information, then feel free.

  5. Is it just Basur-3 that is “unsuitable for onwards drilling”?

    Surely that applies to UKOG itself after their appalling track record of technical failures and fairy tale geological concepts.

  6. Ruth… how does this fit in with your bread other than a vendetta against UKOG .
    “ DRILL OR DROP?
    INDEPENDENT JOURNALISM ON UK FRACKING, ONSHORE OIL AND GAS AND THE REACTIONS TO IT”

    It’s neither UK or fracking …

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