Well done LTH14 Feb 2019 18:45
UKOG CEO Stephen Sanderson said: “We are delighted to acquire this further share of our Horse Hill flagship oil production project. The transaction now firmly establishes UKOG as the majority interest holder in the Horse Hill Portland and Kimmeridge oil field, together with the highly prospective surrounding licence acreage.
“Horse Hill is UKOG’s stated 2019 focus and we are on track to deliver continuous test-derived oil production until the start of long-term stable oil production by year end.
“The plan is designed to make Horse Hill the Weald Basin’s number one oil producing field in 2019 and to move UKOG upwards into the top tier of UK onshore oil producing companies shortly afterwards.”
Permits for up to 20 years of permanent production in Horse Hill are expected to be in place for autumn 2019.