UK Oil & Gas Investments PLC (LONUKOG) has told DirectorsTalk that it has been notified by Horse Hill Developments Limited (“HHDL”) that the Oil and Gas Authority (“OGA”) has granted consent for an extended flow test over three separate zones in the Horse Hill-1 (“HH-1”) oil discovery well. All necessary permissions to test the well are now in place.
The HH-1 discovery well, drilled at the end of 2014, is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport, in which UKOG owns a 20.163% interest.
Stephen Sanderson, UKOG’s Executive Chairman commented:
“The extended test will provide the Company with a very definitive start to the New Year. We look forward to safe and successful operations.”
UKOG’s interest in Horse Hill
The HH-1 well is located within onshore exploration Licence PEDL137, on the northern side of the Weald Basin near Gatwick Airport. UKOG owns a 30% direct interest in HHDL and a 1.02% interest in HHDL via its 6% interest in Angus Energy Limited. HHDL is a special purpose company that owns a 65% participating interest and operatorship of Licence PEDL137 and the adjacent Licence PEDL246 in the UK Weald Basin.
