Houston-Based NUTECH Identifies Major International Oil Discovery

A report delivered by Houston-based NUTECH, one of the world's leading companies in petrophysical analysis and reservoir intelligence, to the independent exploration company, UK Oil & Gas Investments PLC (UKOG), estimates that the Horse Hill-1 (H-H1) well in the Weald Basin holds between 50-100 billion barrels of oil in place (OIP).

NUTECH used its proprietary NULOOK petrophysical analysis solution to provide the London-based company with a report identifying the Horse Hill Upper Jurassic Kimmeridge formation as holding approximately 72 percent of OIP. According to NUTECH, the geological sequence of Horse Hill is analogous to the productive sections of the Bakken and Permian Basin shale formations, as well as the Bazhenov Formation in West Siberia.

The NULOOK petrophysical evaluation process uses conventional open hole well logs to analyze the texture of the tested reservoir rock. In order to accurately determine the effective porosity of the rock, NUTECH uses a unique multi-mineral based system which combines a multi-source clay volume logic and a series of algorithms to yield permeability, which directly relates to core and production results. The pore size distribution provides an effective understanding of the texture of the reservoir rock and identifies the bound and free fluid.

In order to accurately confirm the total OIP estimates predicted in NUTECH’s report, the Horse Hill licensed areas, covering approximately 55 square miles of the Weald Basin in southern England, will undergo extensive analyses led by NUTECH, UKOG and Solo Oil Plc. The contracted companies are working to prepare a drilling and well testing program to confirm the findings of NUTECH’s initial report. Final results of the estimated OIP within the formation will be announced when complete.

“The experience and global knowledge NUTECH has earned through years of interpreting well analyses, have provided UKOG with the expertise needed to identify the full potential of the Horse Hill-1 well,” said Allen Howard, president and CEO, NUTECH. “I am pleased to announce that our local company was able to play such a key role in the discovery of this significant international reservoir. Our company looks forward to working alongside UKOG and Solo Oil Plc. to continue with the analysis of the rock sequence in order to fully unlock the oil play potential of this well.”

In cooperation with the contracted alliances, NUTECH will continue work to confirm the findings of the H H-1 well using its comprehensive reservoir analysis solutions including the NUSTIM completion process designed to predict well behavior prior to completion and the NUVIEW process which utilizes textural analysis and petrophysical outputs to build models that calculate original OIP as well as create in-field development plans. The reservoir intelligence gathered from the integrated set of innovative technologies offered by NUTECH will be interpreted to accurately determine the potential of the Horse Hill-1 well licenses.

About NUTECH
Headquartered in Houston, NUTECH is a global oil services company specializing in reservoir evaluation and optimization at all stages of the exploration and production life-cycle. NUTECH has analyzed nearly 100,000 wells globally for super majors and small independents in 80 countries containing many of the world's major conventional and unconventional hydrocarbon plays. NUTECH has been a technical leader in global conventional missed hydrocarbon pay analysis and, over the last 13 years, in the analysis of more than 20,000 wells from within unconventional plays in North America. For more information, visit www.nutechenergy.com.