Horse Hill - Planning Permission Granted

RNS Number : 0089U

Solo Oil Plc

18 October 2017

 

FOR IMMEDIATE RELEASE                                                                                   

18 October 2017

SOLO OIL PLC

("Solo" or the "Company")

Planning Permission Granted for Further Flow Testing and Drilling

Horse Hill Oil Discovery, Weald Basin, UK

Solo is pleased to note the announcement by UK Oil & Gas Investments PLC that the Surrey County Council's Planning and Regulatory Committee granted planning permission to Horse Hill Developments Limited ("HHDL"), the operator of Horse Hill licences PEDL 137 and PEDL 246, to enable HHDL to carry out extended flow tests at Horse Hill-1 ("HH-1"), plus drill and test both a side-track from the existing HH-1 well and new borehole HH-2. The committee voted overwhelmingly in favour of HHDL's planning application.

Along with the Environment Agency's approval last month of all necessary permits, the Company can now proceed at the earliest opportunity with its Horse Hill appraisal programme.

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	[phone]
Beaumont Cornish Limited Nominated Adviser and Joint Broker Roland Cornish Rosalind Hill Abrahams	[phone]
Shore Capital Joint Broker Jerry Keen Beaufort Securities Joint Broker Jon Belliss Buchanan (PR) Ben Romney / Chris Judd / Henry Wilson	[phone] [phone] [phone]

Notes to Editors:

Solo Oil plc (Solo), is a natural resources investment company with a diverse portfolio of onshore assets, principally in Europe and Africa. The company seeks to deliver returns through early stage investment in promising projects and uses management's own sector expertise to assist in strategic asset development. Solo's portfolio currently includes extensive interests in the prolific Ruvuma Basin in Tanzania, the Horse Hill oil discovery in the Weald Basin, Helium One Limited, the Tanzanian helium exploration company, and Kiliwani North, a natural gas producing project in Tanzania. 

 

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