The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSOLO.L Regulatory News (SOLO)

  • There is currently no data for SOLO

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Horse Hill Licences

28 Apr 2015 07:00

RNS Number : 4709L
Solo Oil Plc
28 April 2015
 

FOR IMMEDIATE RELEASE, 7 am 28 April 2015

 

 

SOLO OIL PLC

("Solo" or the "Company")

 

Horse Hill Licences, UK Weald Basin

 

Solo notes the comments in yesterday's press in relation to the Horse Hill licences ("Horse Hill") in which the Company has an interest of 6.5 percent. The Company confirms the current two exploration licences over Horse Hill and their expiry dates are as follows:

the PEDL137 licence (within which the Horse Hill-1 well was drilled and which was the subject of the Company's announcement on 9 April 2015) expires on 30 September 2015, and

PEDL246 licence expires on 30 June 2019.

The operator of the two licences, Horse Hill Developments Limited ("HHDL"), has already applied to the Oil & Gas Authority ("OGA") (formerly the Department of Energy and Climate Change) for a one year extension of the exploration period of PEDL137.

The OGA has the power, under certain circumstances, to grant extensions to the term of exploration licences and onshore exploration licences can be converted to a production period of 20 years at any time prior to expiry if the Secretary of State approves a field development plan. 

Further, the Company has been informed by the PEDL137 operator, HHDL, that it intends to conduct a flow test on Horse Hill-1 later in 2015 and that it has already submitted the required applications to the authorities for their consent. Planning approval for a flow test on Horse Hill-1 is already in place since it was part of the original Surrey County Council planning approval. Subject to the results of the flow test, the operator would seek to move the PEDL137 licence into the production period, via submission of a field development plan.

Neil Ritson, Solo Chairman, commented:

"The timings associated with these licences are well understood and we are working with the operator and the OGA to ensure that sufficient time is available to properly evaluate the discoveries that have recently been made, and to seek the necessary production licence if that is appropriate."

Solo will update the market on this licence extension in due course.

Solo's interest in Horse Hill:

 

Solo owns a 10% interest in HHDL, a special purpose company which owns a 65% participating interest and operatorship of onshore licences PEDL137 and the adjacent licence PEDL246 in the UK Weald Basin. Magellan Petroleum Corporation holds a 35% interest in both PEDL137 and PEDL246.

For further information:

Solo Oil plc

Neil Ritson

Fergus Jenkins

+44 (0) 20 7440 0642

 

 

Beaumont Cornish Limited

Nominated Adviser and Joint Broker

Roland Cornish

+44 (0) 20 7628 3396

 

 

Old Park Lane Capital Plc

Joint Broker

Charles Laughton

Zoe Alexander

 

Shore Capital

Joint Broker

Pascal Keane

Jerry Keen (Corporate Broker)

 

Bell Pottinger

Public Relations

Henry Lerwill

 

Cassiopeia Services

Investor Relations

Stefania Barbaglio

+44(0) 20 7493 8188

 

 

 

 

+44 (0) 20 7408 4090

 

 

 

 

+44 (0) 20 3772 2500

 

 

 

+44 (0) 79 4969 0338

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
DRLUBRORVSASUUR
Date   Source Headline
21st Oct 20203:47 pmRNSNOTIFICATION OF MAJOR HOLDINGS
20th Oct 20207:00 amRNSHelium One Update
19th Oct 202012:52 pmRNSNOTIFICATION OF MAJOR HOLDINGS
15th Oct 20207:00 amRNSInvestment Facility Part Settlement and TVR
14th Oct 202010:00 amRNSInvestment Facility Part Settlement and TVR
12th Oct 20204:08 pmRNSTanzania Operations Update
9th Oct 20208:43 amRNSNOTIFICATION OF MAJOR HOLDINGS
6th Oct 20207:00 amRNSInvestment Facility – second closing
30th Sep 20207:00 amRNSUnaudited Interim Results 2020
25th Sep 202011:49 amRNSResult of Annual General Meeting
1st Sep 20207:00 amRNSFull-Year Results 2019 and Notice of AGM
28th Aug 20207:00 amRNSTotal Voting Rights
26th Aug 20207:00 amRNSNotice of 2019 Annual Results
14th Jul 202011:34 amRNSHolding(s) in Company
8th Jul 20202:18 pmRNSDisposal of Ausable Reef gas assets to Levant
3rd Jul 20209:14 amRNSTotal Voting Rights
2nd Jul 20207:59 amRNSDirector / PDMR Shareholdings
29th Jun 20207:05 amRNSStrategy, Corporate, and Operations Update
29th Jun 20207:00 amRNSUS$5,000,000 Investment Facility
24th Jun 20207:00 amRNSCorporate Update
27th Apr 20207:00 amRNSLicence Extension and Tanzania Strategy Update
10th Mar 20207:00 amRNSReturn of the Deposit
2nd Mar 202011:05 amRNSSecond Price Monitoring Extn
2nd Mar 202011:00 amRNSPrice Monitoring Extension
2nd Mar 20207:30 amRNSRestoration - Solo Oil Plc
2nd Mar 20207:00 amRNSTransaction Update and Restoration of Trading
25th Feb 20208:09 amRNSTanzania Operations Update
4th Feb 20207:00 amRNSProposed Transaction and Reverse Takeover Update
9th Jan 20207:00 amRNSAppointment of Broker
20th Dec 20192:00 pmRNSProposed Transaction Update
11th Nov 20197:00 amRNSAppointment of Independent Non-Executive Director
11th Nov 20197:00 amRNSRuvuma Joint Statement with AMINEX PLC
8th Nov 20197:00 amRNSRuvuma Update
9th Oct 20197:30 amRNSSuspension - Solo Oil Plc
9th Oct 20197:00 amRNSTransaction and Suspension of Trading
8th Oct 20197:00 amRNSDisposal of Burj investment completed
27th Sep 20197:00 amRNSInterim Results
24th Sep 201912:13 pmRNSRuvuma Update
23rd Sep 20197:00 amRNSManagement Appointments
11th Sep 20197:00 amRNSSolo Oil signs agreements with THREE60 and NRG
10th Sep 20197:00 amRNSDisposal of Burj investment
27th Aug 201912:20 pmRNSResult of Annual General Meeting
27th Aug 20197:00 amRNSAGM Presentation
16th Aug 20197:01 amRNSTanzania Operations Update
28th Jun 20194:55 pmRNSFull-Year Results 2018 and Notice of AGM
24th May 201910:55 amRNSAminex Management Changes
2nd May 20197:00 amRNSHelium One Management Changes
2nd May 20197:00 amRNSChange of Registered Office
26th Mar 20197:00 amRNSNew Corporate Presentation
22nd Mar 20197:00 amRNSStrategy Update

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.