Solo Oil Plc Approvals Horse Hill-1 Extended Testing (1698Q)

TIDMSOLO

RNS Number : 1698Q

Solo Oil Plc

08 September 2017

FOR IMMEDIATE RELEASE; Embargoed until 7 am

8 September 2017

SOLO OIL PLC

("Solo" or the "Company")

Approvals Horse Hill-1 Extended Testing

Solo is pleased to report that the Environment Agency has granted the necessary permits to Horse Hill Developments Limited ("HHDL"), the operator of Horse Hill licences PEDL 137 and PEDL 246, to enable HHDL to carry out extended well tests, drill a side-track well from the existing Horse Hill-1 well ("HH-1") and drill and test a new borehole at the HH-1 site.

As previously advised, a planning application in relation to these proposed activities has also been submitted to Surrey County Council ("SCC"). We have been informed by HHDL that SCC has confirmed that the planning application is now scheduled to be determined at October's meeting of its planning committee. Members of the planning committee completed a scheduled visit to the Horse Hill site yesterday, 7 September, in preparation for the October meeting.

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 / Fergus 
  Jenkins                    [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] 
 

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 08, 2017 02:00 ET (06:00 GMT)