United Oil & Gas PLC announced an update on the ASH-4 development well ("ASH-4") in the Abu Sennan licence, onshore Egypt. United holds a 22% non-operating interest in the Abu Sennan licence, which is operated by Kuwait Energy Egypt. ASH-4 well update: As previously announced, ASH-4, a step-out development well in the ASH field, encountered 20 metres of net pay through the primary Alam El Bueib ("AEB") reservoir target.

Preliminary well-test results indicated average flow rates of 1,325 bopd and 1.8 mmscf/d (c. 1,685 boepd gross; 371 boepd net working interest) on a 32/64" choke, with no water production and encouraging reservoir pressure. The well was brought on stream on 17 November 2022 on the 32/64" choke size and although initial flow-rates were in excess of the well-test average, over recent days the rates from the well have sharply declined, suggesting that the well is connected to a smaller volume of oil than had been expected pre-drill. The choke size has now been reduced to 24/64" to manage the reservoir and production rates from the well, which are expected to stabilise over the coming days, but these will be at a lower level than had previously been anticipated.

The ASH-4 well is located in the northern, more heavily faulted part of the ASH field and appears to have intersected reservoir that is separated from the currently producing wells. The additional data and insights from ASH-4 are already being incorporated into updating the models and building on its understanding of the field. The next development well planned at ASH lies in the southern, better-imaged part of the field, and is in a location independent of these updated ASH-4 results.