Horse Hill Developments Limited, operator of the Horse Hill-1 well, revealed Tuesday that the Horse Hill licenses PEDL137 and PEDL246 have been granted extensions.
The licenses have been converted to the license terms used in the recent 14th Licensing Round, which will permit them to continue without further relinquishment. A Retention Area covering the entire 55 square mile license area and an outline work program has been agreed with the Oil and Gas Authority.
The Horse-Hill Licenses will continue throughout the agreed work program period currently set at 2 years for PEDL137 and 1 year for PEDL246. The work program includes further long-term production testing of three Kimmeridge Limestone zones and the overlying Portland Sandstone, two further appraisal or development wells and 3D seismic.
"We are pleased that the operator has agreed with the OGA to adopt the 14th Round license terms and that the entire license area will be retained during the ongoing appraisal of the Horse Hill-1 discovery, which tested at such exciting flow rates earlier this year," said Solo Oil Chairman Neil Ritson.
Solo owns a 6.5 percent interest in the HH License which is located on the north side of the UK Weald Basin close to Gatwick airport.
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