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Solo Oil, Stellar Resources and Alba Mineral Resources strike oil in UK

Mon, 06th Oct 2014 08:05

Oil explorers Solo Oil, Alba Mineral Resources and Stellar Resources have struck oil at a site in southern England.The companies said their Horse Hill-1 drilling well encountered Portland Sandstone over the weekend, with oil shows at between 2,100 and 2,400 feet of measured depth.The sandstone drill cuttings indicated the presence of oil within a porous and permeable rock matrix, the company said in a statement.Drilling is now proceeding towards the remaining primary and secondary targets.The Horse Hill-1 well is on the northern side of the UK Weald Basin, near Gatwick Airport.The well is aiming to test for Triassic aged formations which are expected to contain gas.Solo Oil owns a 10% interest in special purpose company HHDL, which in turn has a 65% interest in the Horse Hill-1 well. Alba holds 5% of HHDL and Stellar has 10%.Solo's executive director Neil Ritson said: ""Drilling has shown the presence of the anticipated Portland Sandstone reservoir and the presence of oil shows is an encouraging development."We will gain considerably more information from electric logs that will be run at the end of the current section of the well, and in the meantime we have further primary oil targets to drill."Shares in Stellar Resources lifted 5.6% to 0.95p, Solo gained 5.4% to 0.96p but Alba dropped 6.5% to 1.08p.
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6 Aug 2014 11:28

Horse Hill Developments Gets Final Approvals For Weald Basin Drilling

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21 Jul 2014 08:56

Horse Hill Developments Gets Key Approvals For Weald Basin Drilling

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11 Jul 2014 07:58

Alba Mineral Resources And Regency Mines Buy Into Horse Hill

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27 Jun 2014 07:28

UK MORNING BRIEFING: Imagination Technologies Hit By Intel Share Sale

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16 Jun 2014 13:37

Sector movers: Oil stocks track crude higher on Iraq violence

Rising crude prices helped lift stocks in the oil sector on Monday, as the ongoing violence in Iraq raised concerns about the knock-on effect on supply. Fighting between the Iraqi army and Sunni Islamist insurgents escalated this weekend after militants from the Islamic State of Iraq and the Levant

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16 Jun 2014 11:54

UK MIDDAY BRIEFING: Mixed News For London's IPO Market

LONDON (Alliance News) - Low-cost airline Wizz Air Holdings Monday pulled its planned initial public offering in London, blaming the recent volatility in airline stocks, but three other companies added themselves to the London IPO pipeline.

Wizz Air is the fourth co

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16 Jun 2014 11:16

UK WINNERS & LOSERS: Miners Gain As China's Premier Promises Support

LONDON (Alliance News) - The following stocks are the leading risers and fallers within the main London indices midday Monday.
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FTSE 100 - WINNERS
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Fresnillo, up 2.3%, Glencore, up 2.0%, Anglo American

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16 Jun 2014 07:38

Horse Hill Companies Rise As Work Starts On First Well Site

LONDON (Alliance News) - Solo Oil PLC, Stellar Resources PLC, Doriemus PLC and UK Oil & Gas Investments PLC all saw their shares rise early Monday after saying that the operators of the Horse Hill oil and gas prospect in the Weald Basin near Gatwick Airport had stared building the site for the Ho

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22 May 2014 11:13

Aminex And Solo Oil Complete 2D Seismic At Ntorya-1 In Tanzania

LONDON (Alliance News) - Aminex PLC and Solo Oil PLC Thursday said that 2D seismic studies to appraise part of their Ntorya-1 discovery at the Ruvuma Licence in Tanzania have been completed and processing has started. The oil and gas exploration and development companies said the overall pr

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22 May 2014 10:38

Solo Oil and Aminex complete 2D seismic acquisition

Oil and gas exploration group Solo Oil has completed a 2D seismic programme to appraise the 'up-dip' portion of the Ntorya discovery, in Tanzania. The group announced on March 27th that a programme of 2D seismic was planned in the Ntorya field of the onshore Ruvuma Petroleum Sharing Contract. This

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16 May 2014 11:46

Solo Oil, Stellar Resources, Doriemus And UK Oil & Gas Investments Say Horse Hill-1 On Schedule

LONDON (Alliance News) - Solo Oil PLC, Stellar Resources PLC, Doriemus PLC and UK Oil & Gas Investments PLC Friday announced that the Horse Hill-1 well is on schedule to go into test production during July towards planned completion in August. The four oil and gas exploration and developmen

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12 May 2014 14:47

DIRECTOR DEALINGS: Solo Oil CEO Buys Three Million shares

LONDON (Alliance News) - Solo Oil PLC Monday said that Chief Executive Officer Neil Ritson bought three million shares at an average price of 0.175 pence per share. Ritson now holds a total of 33 million shares, representing a 0.717% shareholding in the company. Solo Oil shares were u

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8 May 2014 16:49

DIRECTOR DEALINGS: Solo Oil Executive Director Buys Shares

LONDON (Alliance News) - Solo Oil PLC said Executive Director Neil Ritson bought 9 million shares at an average price of 0.16 pence per share on Thursday. The oil and gas exploration and development company said Ritson now holds 30 million shares in the company. Solo Oil shares closed

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29 Apr 2014 13:20

Solo Oil Pretax Loss Widens On Expenses, Impairments

LONDON (Alliance News) - Solo Oil PLC Tuesday said it widened its pretax loss for the 18 months ending December 31 compared to the previous year as increased administrative expenses and impairment charges hit the company. The oil and gas exploration and production company with assets in the

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16 Apr 2014 22:30

This Is A Test From Alliance News

LONDON (Alliance News) - This is a test from Alliance News. Please ignore. Copyright 2014 Alliance News Limited. All Rights Reserved.

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