U.S. Oil & Gas plc - Operations Update
PR Newswire
Update
U.S. Oil & Gas Plc, ( USOIL or the Company ), the oil and gas exploration company with assets in Nevada, is pleased to make the following announcement:
Operational update
As previously announced, the Company has submitted Notices of Staking for three drill locations in its West Play: Eblana-7, Eblana-8 and Eblana-13. The locations are on one of two zones with interpreted Palaeozoic slide block structures suggested by geophysical and geochemical data and which may feature carbonate lithology. These zones appear to be analogues of Railroad Valley s Grant Canyon Field, and each may contain multiple slide blocks. The data suggests that in the West Play multiple slide blocks may exist within the Company s acreage.
The explorer believes success would represent a company-making achievement .
US Oil & Gas Plc (USOP) said it has submitted Notices of Staking for three drill locations - Eblana-7, Eblana-8 and Eblana-13 - in its West Play, in Nevada.
The company said that the proposed well sites are located in one of two zones with interpreted Palaeozoic slide block structures suggested by geophysical and geochemical data. They are in Zone 1 which spans some 4,064 acres. Estimates for the three sites see some 86.5mln barrels of prospective resources of original oil in place.
According to the company, the zones appear to be analogues of Railroad Valley’s Grant Canyon Field and it says that if this is proven by well results it could anticipate “exceptionally high” flow rates.