Solo Oil has announced the lining up of further production testing and appraisal of the Horse Hill-1 (HH-1) discovery in the UK after adopting revised terms for the licences PEDL137 and PEDL246 (HH Licences) that host the find.
Horse Hill Developments (HHDL) operates the HH-1 well.
Solo said that the HH Licences have been converted to the licence terms used in the recent 14 Round, thereby allowing them to continue without further relinquishment.
The company has agreed a retention area covering the entire 55 square mile licence area and an outline work programme with the Oil and Gas Authority (OGA).
The two licences are set to continue throughout the agreed work programme period, which is currently set at two years for PEDL137 and one year for PEDL246.
As part of the programme, long-term production testing will be carried out for three Kimmeridge Limestone zones and the overlying Portland Sandstone.
It also includes two further appraisal or development wells and 3D seismic.
Solo Oil chairman Neil Ritson said: "We are pleased that the operator has agreed with the OGA to adopt the 14th Round licence terms and that the entire licence area will be retained during the ongoing appraisal of the Horse Hill-1 discovery, which tested at such exciting flow rates earlier this year."
The HH licence located on the north side of the UK Weald Basin is 6.5% owned by Solo Oil.
UKOG has an indirect interest of 27.3% in the PEDL137 and PEDL246 licences and owns a 42% stake in HHDL.
