Shareholders in energy B have approved the company’s plans to acquire the majority stake in the Horse Hill oil site in Surrey.

energy B announced last month (12 June 2026) that it had entered into a share purchase agreement with UK Oil & Gas plc (UKOG).

Under the £1m deal, energy B would acquire UKOG’s 77.9% shareholding in Horse Hill Developments Ltd, the Horse Hill operator.

energy B would also buy all of UKOG’s wholly-owned subsidiary UKOG (137/246) Ltd, which has a stake in the Horse Hill licence.

energy B said in a statement that shareholders had approved the acquisition at a general meeting this week (15 June 2026). It said:

“the Company will now continue to work towards satisfying the various conditions precedent to the Acquisition.”

The meeting also approved share subscriptions and the grant of options for three directors. The executive chair, David Lenigas, chief executive Neil Ritson, and director Jonathan Colville will now be able to subscribe for a total of 529,133 new ordinary shares and be granted 4 million options over shares.