Horse Hill Update

Primorus Investments plc

("Primorus" or the "Company")

Horse Hill Update

Primorus is pleased to announce that it has been informed by Horse Hill Developments Ltd ("HHDL"), the operator of Horse Hill licenses PEDL137 and PEDL246, containing the Horse Hill-1 ("HH-1") oil discovery, that it has now received final decision notices from Surrey County Council ("SCC"), discharging all of the pre-commencement conditions.

This follows the planning approval in November 2017 by SCC's Planning and Regulatory Committee to enable HHDL to carry out extended flow tests at HH-1, plus drill and test both a sidetrack from the existing HH-1 well and new well Horse Hill-2. 

HHDL has received the necessary permission from the Environment Agency and is now awaiting approval from the Oil and Gas Authority.

Primorus holds a 5% interest in HHDL equivalent to a 3.25% interest in the Horse Hill licences, PEDL137 and PEDL246, and the Horse Hill oil discovery.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

For further information, please contact:

Primorus Investments plc:

+44 (0) 20 7440 0640

Alastair Clayton

Nominated Adviser:

Cairn Financial Advisers LLP

+44 (0) 20 7213 0880

James Caithie / Sandy Jamieson 

Broker:

Turner Pope Investments Limited

+44 (0) 20 3621 4120

Andy Thacker