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UK Oil & Gas PLC - London-based exploration and production company focused on the UK and Turkey - Says phase 2 seismic programme over its Turkey Resan licence is complete. UK Oil & Gas has a 50% interest in the Resan licence. The programme, consisting of four new 2D seismic lines over the possible updip western extent of the Basur-1 oil discovery and Prospect B to the south, was delivered ‘ahead of schedule and under budget’, the company says. UK Oil & Gas will now analyse the data before focusing on delivery of a new Basur appraisal well. Well is now anticipated to add near-term oil production in the first half of 2023. Turkey's petroleum law enables a successful oil well to be put into full time production within days to weeks of a successful test, company notes.
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