Shares in UK Oil & Gas plc fell 8% today following a statement on testing its new well at the Horse Hill site near Gatwick Airport.
Cuadrilla’s Australian investor has suggested that the shale gas company will be looking at new exploration sites next year.
The company that wants to frack for shale gas near Formby in Lancashire is pressing ahead with its planning application, despite the government’s recent moratorium.
“I love it because it is not oil”, the head of Angus Energy said of his new gas asset in Lincolnshire.
Angus Energy’s plans to test the flow of oil at its well at Balcombe in West Sussex are now open for public comment.
Angus Energy has confirmed that it will be applying next month for consent to carry out an extended well test at the Balcombe oil site in West Sussex.
Proposals to drill four more production wells at the Horse Hill oil site, near Gatwick Airport, have been supported by Surrey County Council planners.