Solo Oil Plc Horse Hill - Planning Permission Granted (0089U)

TIDMSOLO

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)               [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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October 18, 2017 12:58 ET (16:58 GMT)