UEN Urals EN.

RNS No 3398w
UNITED ENERGY PLC
12th November 1997

ANN MAG DEEP DRILLING SUCCESS

United Energy plc announces that its wholly owned subsidiary, AmBrit Energy
Corp ("AmBrit") is in the process of completing the successful Perez Deep No.1
well in the Ann Mag Field, Brooks County, Texas.

The Perez Deep No.1 well, in which AmBrit has a 15% working interest, is the
second of three wells to be drilled this year to evaluate the deeper Vicksburg
sands in the Ann Mag area, at a depth of just over 12,000 ft.  The first well,
the Sullivan Deep A No.1 (AmBrit 15.6% working interest), encountered three
sands, the Vx5, Christico and Vx6 with a total of 56 feet of net pay.  This
well is currently producing 3.8 mmscf of gas and 350 bbl of condensate per day
just from the 25 ft thick Vx6 sand, which is equivalent to some 120 boepd net
to AmBrit.  We hope to add in production from the Christico and Vx5 sands
during the first half of 1998, subject to approval from the regulatory
authorities.

In the Perez Deep No.1 well, the Vx5 to Vx9 sands were either faulted out or
poorly developed, but the well encountered a thick Vx10 sand with 77 ft of net
pay together with 17ft of net pay in the Vx11 sand.  The Vx10 sand is
considerably thicker than was expected and the initial indications from this
well are very encouraging.  The two pay zones are scheduled to be perforated
and stimulated during the month of November and we expect to have this well on
commercial production by early December.  The success of this well should have
a material impact on AmBrit's production and reserve base.

The third deep Vicksburg well, the Rupp Deep "C" No.1 in which AmBrit has a
14.55% working interest, is currently drilling and we expect to intersect the
target sands over the next two weeks.  The success of the two deep Vicksburg
wells to date has set up at least three deep development wells for the 1998
Drilling Program.

Contact:        Nick Tamblyn, Chief Executive - 01242 253773
       Derek Howard-Orchard, Group Technical Director - 01242 253773

END



MSCOCBCQNDDDQDD

Urals Energy (LSE:UEN)
Historical Stock Chart
From Jun 2024 to Jul 2024

Urals Energy (LSE:UEN)
Historical Stock Chart
From Jul 2023 to Jul 2024