UK Oil & Gas Investments (UKOG) is set to commence drilling at Broadford Bridge-1 (BB-1) exploration step-out well in Weald Basin.
The drilling rig and key equipment have been placed at the site. The company has also received all regulatory permissions to drill the well.
Situated in the 300 km² of PEDL234 licence, the well will test a geological look-alike to Horse Hill.
UKOG owns a 100% stake in PEDL234 licence through its ownership of the licence's operator Kimmeridge Oil & Gas.
The drilling will be carried out to test both the southerly extension of the Kimmeridge Limestone oil play across the Weald Basin, in addition to its development within the licence.
By using conventional oil field techniques, the drilling will test four naturally fractured Kimmeridge Limestone reservoir horizons.
UKOG said the uppermost two reservoir horizons have been successfully flow tested at the firm’s Horse Hill oil discovery in 2016.
The drilling will help the company to collect the comprehensive data, including coring and electric logging, over the Kimmeridge Limestone sequence, helping to characterize natural fracturing and other key reservoir parameters.
The well will be completed as a potential oil-producer and flow tested, once drilled, cored and logged.
UKOG executive chairman Stephen Sanderson said: "The BB-1 well will add materially to our knowledge and understanding of the Kimmeridge Limestone play within the Licence and across the wider Weald Basin. BB-1 is a key piece of the Kimmeridge Limestone puzzle."