The decision on plans to drill two oil and gas wells near the Surrey village of Dunsfold have been delayed for a third time.
UK Oil & Gas has confirmed it will submit a second planning application for its proposed exploration site at Dunsfold, south of Guildford.
The Horse Hill oil site in Surrey looks increasingly likely to be one of the UK’s leading onshore producing fields, its leading investor said this afternoon.
The exploration company. UKOG, announced this morning it had suspended its well at Broadford Bridge in West Sussex, after describing observed oil flows as likely to be “sub-commercial”.
Shares in UK Oil and Gas dropped by more than 35% this afternoon following the company’s announcement of possible formation damage at its Broadford Bridge oil exploration well and the prospect of drilling another sidetrack.
UKOG Broadford Bridge update: “unproductive” section, plans for new sites, extended flow test consent and new analysis
UK Oil and Gas has announced that a section of the reservoir at its Broadford Bridge oil well in West Sussex is “unproductive” because of low permeability.
UK Oil and Gas saw its shares rise in value by nearly 25% today following a statement on the company’s Broadford Bridge oil exploration site in West Sussex.