Solo Oil Plc Update on Horse Hill (5192K)

TIDMSOLO

RNS Number : 5192K

Solo Oil Plc

10 July 2017

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

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 
----------  ---------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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July 10, 2017 02:05 ET (06:05 GMT)