Business
Operational Update - Horse Hill-1
Operational Update - Horse Hill-1.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 7081Z UK Oil & Gas Investments PLC 19 December 2017 \n\nUK Oil & Gas Investments PLC\n (\"UKOG\" or the \"Company\") \n \nOperational Update \nHorse Hill-1 Oil Discovery, Weald Basin, UK\n \nHighlights:\n· 150-day production flow-test and new drilling programme set to commence in late winter 2017/18\n· Programme aims to confirm commerciality of Portland and Kimmeridge oil discoveries and gear-up for first permanent oil production targeted for early 2019. \n· Drilling of HH-2 appraisal well as future producer to directly follow flow testing programme\n· Permanent production consent application underway, submission to SCC expected in spring 2018\n· Swift and successful eviction of protesters completed at Horse Hill site on 02 December\n \nUK Oil & Gas Investments PLC (London AIM: UKOG) announces that it has been advised by Horse Hill Developments Ltd (\"HHDL\"), the operator of the Horse Hill-1 (\"HH-1\") oil discovery, in which the Company holds a 32.435% interest, that key contracts and the requisite funding commitments from all participants are in place to undertake the production flow testing and drilling campaign approved by Surrey County Council (\"SCC\") in October 2017. The 2018 programme is planned to commence directly upon the discharge of SCC's pre-commencement planning conditions, expected by the end of winter 2017/18. Environment Agency approval for the full programme was granted in September 2017.\n \nHorse Hill Oil Discovery\n \nThe HH-1 Portland sandstone and Kimmeridge Limestone oil discoveries lie within onshore Weald Basin licences PEDL137 and PEDL246 covering an area of 55 square miles (143 km2) north of Gatwick Airport. As previou...