UK Oil & Gas PLC announced that the Oil and Gas Authority has approved the Horse Hill Field Development Plan and consented to the start of long-term production (“Production”) from the field. The field is situated onshore, in licence PEDL137 in the Weald Basin, 3km north of Gatwick Airport, south of London, UK.
The discovery well (HH-1) proved oil in the Portland Sandstone, as well as in deeper formations including the Kimmeridge Clay, Oxford Clay and Liassic Shale.
The well also penetrated and flow tested a significant new oil play in the Kimmeridge Limestone section, together with a potential shale oil play in the Kimmeridge Clay, Oxford Clay and Liasshales, according to UK Oil & Gas.
UKOG holds a controlling 85.635% interest in the Horse Hill oil field and surrounding PEDL137 and PEDL246 licences.
Official volumes are not indicated, earlier volumes from 2105 refer to a STOOIP of 30 MMboe with the note that the “OIP hydrocarbon volumes estimated should not be considered as either Contingent or Prospective Resources or Reserves.”