Horse Hill Development has started drilling operations on the Horse Hill-1 well, located in the onshore UK Weald Basin.
The well will be drilled to a total depth of 2,646m and is designed to test several conventional stacked oil targets in the Jurassic, as well as a deeper conventional gas target in the Triassic.
Horse Hill Development holds a 65% participating interest and operatorship of onshore licence PEDL137 in the UK Weald Basin and Magellan Petroleum owns the remaining stake.
Doriemus and Solo Oil have binding agreements to acquire a 10% stake in Horse Hill Development.
Solo Oil executive director Neil Ritson said: "We are very pleased that drilling operations are now underway on this exciting prospect that has both oil and gas targets that have proved to be productive for oil elsewhere in the basin.
"The next few weeks will be an exciting phase for this investment."
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By GlobalDataHorse Hill Development has been established to explore the potential for hydrocarbons using conventional drilling methods without fracking.
The company secured approvals and landowner agreements to construct an exploratory well site near Gatwick Airport.
It will feature a plant, buildings and equipment for the drilling of one borehole and the short-term conventional testing for hydrocarbons.
