The UK Environment Agency approved drilling an initial well in Horse Hill oil field in Surrey, UK, announced Horse Hill Developments Ltd., a London joint venture and field operator. The field is part of Petroleum Exploration and Development License 137.
Plans call for a vertical well to test several conventional stacked oil and gas targets in Portland sandstone, Corallian sandstone, and Great Oolite limestone. Stakeholders said drilling was expected to start soon when weather permits.
Horse Hill Developments holds 65% interest in the project. Stakes in Horse Hill Development are held by Alba Mineral Resources PLC, Regency Mines PLC, Solo Oil PLC, Stellar Resources PLC, Doriemus PLC, Angus Energy Ltd., and UK Oil & Gas Investments PLC. Magellan Petroleum Corp. of Denver owns the other 35% interest.