Regency Mines PLC Update on Horse Hill (5526K)
10 July 2017 - 4:55PM
UK Regulatory
TIDMRGM
RNS Number : 5526K
Regency Mines PLC
10 July 2017
Regency Mines Plc
("Regency" or "the Company)
Update on Horse Hill Oil Discovery, Weald Basin UK
10 July 2017
Regency today announces that it has been informed by the
operator, Horse Hill Developments Limited ("HHDL"), that following
communications with the Surrey County Council ("SCC"), HHDL now
understands that the Horse Hill planning application will be
determined at the scheduled SCC Planning Committee meeting of
either August or September 2017. The planning application seeks
consent to long-term production testing of Horse Hill-1 well
("HH-1") and the drilling two further wells. HHDL's plans remain
unchanged, with flow testing expected to commence in Q4 2017.
Regency currently owns 5% of HHDL, and has agreed to sell 1.9%
of HHDL. Upon completion of the sale it will own 3.1%. HHDL owns
65% of the Horse Hill Petroleum Licences containing the HH-1 oil
discovery, and the Company's current net interest is therefore
3.25% of the licences, well and discovery.
For further information contact:
Andrew Bell 0207 747 9960 Chairman Regency Mines Plc
Scott Kaintz 0207 747 9960 Executive Director Regency Mines
Plc
Roland Cornish/Rosalind Hill Abrahams 0207 628 3396 NOMAD Beaumont Cornish Limited
Jason Robertson 0129 351 7744 Broker Dowgate Capital
Stockbrokers Ltd.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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