Update on Horse Hill

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.

 

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