Business
Update on the Horse Hill - 1 Well
Update on the Horse Hill - 1 Well.
About this update from Primorus Investments Plc
[{"type":"text","content":"\n \nRNS Number : 6496J Stellar Resources PLC 16 June 2014 \n \n\n \n \n \n \nStellar Resources Plc\n(\"Stellar Resources\" or the \"Company\")\n \nUpdate on the Horse Hill-1 Well\n \nStellar Resources Plc (AIM: STG) today announces that Horse Hill Development Ltd, the operators of the Horse Hill Prospect in the Weald Basin near Gatwick Airport, have advised that site construction has now commenced for the proposed 8,512 feet Horse Hill-1 well. The well is expected to spud in July 2014 and is targeting a number of conventional stacked oil and gas targets.\n \nStellar Resources has a binding agreement in place to own a direct 7.5% interest in Horse Hill Development Ltd, a special purpose company that owns a 65% participating interest and operatorship of the Horse Hill Prospect.\n \nDavid Lenigas, the Company's Chairman, commented:\n \n\"The breaking of ground at the Horse Hill Prospect marks the start of a potentially exciting era for Stellar Resources and the Horse Hill Development partners.\"\n \n-ENDS-\n \nFor further information, please contact:\n \nEnquiries:\n \n\n\n\n\nStellar Resources plc\nDavid Lenigas, Executive Chairman\nDonald Strang, Finance Director\n \n\n\n \n+44 (0) 20 7440 0640\n\n\n\n\nCairn Financial Advisers LLP\nJames Caithie / Paul Trendell\n \nPublic Relations:\nSquare 1 Consulting Ltd\nDavid Bick / Mark Longson\n\n\n \n+44 (0) 20 7148 7900\n \n+44 (0) 20 7929 5599\n \n \n \n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END DRLFAMBTMBMBTII\n ","length":4010,"tagName":"div"}]