Update on the Horse Hill - 1 Well

RNS Number : 6496J

Stellar Resources PLC

16 June 2014

 



Stellar Resources Plc

("Stellar Resources" or the "Company")

Update on the Horse Hill-1 Well

Stellar Resources Plc (AIM: STG) today announces that Horse Hill Development Ltd, the operators of the Horse Hill Prospect in the Weald Basin near Gatwick Airport, have advised that site construction has now commenced for the proposed 8,512 feet Horse Hill-1 well.  The well is expected to spud in July 2014 and is targeting a number of conventional stacked oil and gas targets.

Stellar Resources has a binding agreement in place to own a direct 7.5% interest in Horse Hill Development Ltd, a special purpose company that owns a 65% participating interest and operatorship of the Horse Hill Prospect.

David Lenigas, the Company's Chairman, commented:

"The breaking of ground at the Horse Hill Prospect marks the start of a potentially exciting era for Stellar Resources and the Horse Hill Development partners."

-ENDS-

For further information, please contact:

Enquiries:

Stellar Resources plc David Lenigas, Executive Chairman Donald Strang, Finance Director	[phone]
Cairn Financial Advisers LLP James Caithie / Paul Trendell Public Relations: Square 1 Consulting Ltd David Bick / Mark Longson	[phone] [phone]

 

END

 

 

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