10 Jul 2017 07:05
FOR IMMEDIATE RELEASE, Embargoed until 7.05 am 10 July 2017
SOLO OIL PLC
("Solo" or the "Company")
Update on Horse Hill, Weald Basin UK
Solo today announces that it has been informed by the operator, Horse Hill Developments Limited ("HHDL"), that following communications with the Surrey County Council ("SCC"), HHDL now understands that the Horse Hill planning application will be determined at the scheduled SCC Planning Committee meeting of either August or September 2017. The planning application seeks consent to long-term production testing of Horse Hill-1 well ("HH-1") and the drilling two further wells. HHDL's plans remain unchanged, with flow testing expected to commence in Q4 2017.
Solo owns 10% of HHDL, which owns 65% of the Horse Hill Petroleum Licences containing the HH-1 oil discovery, and therefore a 6.5% interest in the licences, well and the discovery.
For further information:
Solo Oil plc Neil Ritson / Dan Maling | +44 (0) 20 3794 9230 |
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Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish | +44 (0) 20 7628 3396 |
Shore Capital Joint Broker Jerry Keen
Beaufort Securities Joint Broker Jon Belliss
Buchanan (PR) Ben Romney / Chris Judd / Henry Wilson |
+44 (0) 20 7408 4090
+44 (0) 20 7382 8300
+44 (0) 20 7466 5000 |
Glossary :
discovery | a petroleum accumulation for which one or several exploratory wells have established through testing, sampling and/or logging the existence of a significant quantity of potentially moveable hydrocarbons |