Key Licence Conversion, Kimmeridge and Portland Region, Weald Basin
Evocutis (AIM: EVO, ISDX: EVO) is pleased to announce that the Oil and Gas Authority ("OGA") has granted a licence conversion to new model terms for Horse Hill ("HH") PEDL137 and PEDL246.
At the Operator Horse Hill Developments Ltd's ("HHDL") election, the licences will adopt 2016 14th Round licence terms permitting the HH Licences to continue without further relinquishment. A Retention Area ("RA") covering the entire 55 square mile licence area and an outline work programme has been agreed with the OGA. The RA will continue throughout the agreed work programme period currently due to expire on June 30, 2018 for PEDL137 and June 30, 2017 for PEDL246. The HH Licences forward work plan includes long-term production testing of 3 Kimmeridge Limestone zones plus the overlying Portland, two contingent appraisal/development wells and 3D seismic.
Interest in Horse Hill
Evocutis owns a 2% direct interest in HHDL. HHDL is a special purpose company that owns a 65% participating interest and operatorship of Licence PEDL137 and the adjacent Licence PEDL246 in the UK Weald Basin.
See this will go up give it time we all shall be rewarded shame this board has gone quiet. My personel view is double if not more by xmas that would be a nice xmas gift not ramping or deramping as some say on here i like to jus read what other ppl say been watching these boards for some time can rem this when it was on 0.3 last year was on the side lines thinkin should i dive in now or wait But now the waiting game is almost over it does tik u off when u see no movement for days or sum times even a week but hay we all still here livin the dream SOME DAY.....
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