The operator of tthe Horse Hill oil well, near Horley, in Surrey, has applied for a one-year extension to its drilling licence.
UKOG, which holds about 20% of the licence covering the well site, said it was due to expire in September this year. The neighbouring licence area runs until 2019.
But it added: “The operator of the two licences, Horse Hill Developments Limited, has already applied to the Oil & Gas Authority for a one year extension of the exploration period of PEDL137.”
Earlier this month, UKOG announced a potential of 158m barrels of oil per square mile below the Weald. In interviews, the chief executive, Stephen Sanderson, said the region could produce up to 100bn barrels. But within days, the company had to issue a clarification that more testing was needed to assess the potential of the Weald.
Today’s statement said the Horse Hill well would be flow tested later this year. Planning permission was already in place and permit applications had been submitted. If the flow test is successful, the site would move to production, UKOG added.