United Oil & Gas spuds next Egypt well

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United Oil & Gas PLC (AIM:UOG, FRA:1UO) told investors its latest well in Egypt was this weekend spudded by operator Kuwait Energy.


The ASX-1X well got underway on August 14, the company said in a statement. The drill programme is expected to last for up to 54 days.


ASX-1X is located some 7 kilometres to the north of the producing Al Jahraa field. It is a vertical well, targeting stacked reservoir targets. The targets are described as being similar in structure to the nearby discovery that was recently made at ASD-1X well.


“There is considerable exploration potential in the Abu Sennan licence, and it is great to be actively drilling our second exploration well this year to further unlock that potential,” said chief executive Brian Larkin.


“We are delighted that the ASX-1X exploration well has been spudded and look forward to updating shareholders once the well has reached the target reservoirs.”

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