Business
Update on Horse Hill
Update on Horse Hill.
About this update from Uk Oil & Gas Plc
[{"type":"text","content":"\n \nRNS Number : 4086O UK Oil & Gas Investments PLC 06 August 2014 \n \n\n \nFor Immediate Release\n6 August 2014\n \nUK Oil & Gas Investments PLC\n(\"UKOG\" or the \"Company\")\n \nUpdate on Horse Hill Prospect, UK.\nEnvironment Agency Permits Granted\n \n \nUKOG (AIM: UKOG) today announces that the operator, Horse Hill Developments Ltd (\"HHDL\"), has now been granted final approvals from the UK Environment Agency to proceed with the drilling of the Horse Hill -1 well at Horse Hill in Surrey. \n \nUKOG has a binding agreement in place to own a direct 7.5% interest in HHDL, a special purpose company that owns a 65% participating interest and operatorship of the Horse Hill Oil Field in the Weald Basin and an additional interest by virtue of it's 6% ownership in the License's operator, Angus Energy. Angus Energy owns 40% of HHDL.\n \nDavid Lenigas, the Company's Chairman, commented:\n \n\"Recent heavy rainfall in the area has delayed the completion of site construction works, however, the concrete cellar is on-site and is ready to install once the ground conditions allow. We are therefore looking forward to spudding of this important Horse Hill-1 well shortly.\"\n \nThe participants in the Horse Hill-1 well are HHDL (Operator) with a 65% working interest and Magellan Petroleum Corporation with a 35% interest.\n \n \n \n-ENDS-\n \nFor further information, please contact:\n \n\n\n\n\nUK Oil& Gas Investments PLC\nDavid Lenigas / Donald Strang\n\n\nTel: 020 7440 0640\n\n\n\n\nBeaumont Cornish (Nominated Adviser)\nRoland Cornish / Michael Cornish\n\n\nTel: 020 7628 3396\n\n\n\n\nHume Capital Securities PLC (Corporate Broker)\nDavid Lawman\n\n\nTel: 020 7101 7070\n\n\n\n\nSquare 1 Consulting (Public Relations)\nDavid Bick/Mark Longson\n\n\n \nTel: 020 7929 5599\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCPFMLTMBAMMBI\n ","length":4528,"tagName":"div"}]