Update on the Horse Hill-1 Well
Solo today announces that Horse Hill Development Ltd ("HHDL"), 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 targets in Jurassic aged reservoirs and possible gas in the Triassic.
As announced 30 January 2014 Solo has a binding agreement in place to own a direct 10% interest in Horse Hill Development Ltd, a special purpose company that owns a 65% participating interest and operatorship of the Horse Hill Prospect.
After evaluating the Jurassic targets in the Portland sandstone, Corallian sandstone and Great Oolite limestone, the well is planned to be drilled to Triassic age formations in order to evaluate the potential, so far unexplored, for conventional gas within the Horse Hill structure.