My analyst has produced a very good geological report on the Weald Basin. Looks very promising for more oil.
All eyes will now be on the JV partnership. The participants in the Horse Hill-1 well are HHDL (Operator) with a 65% working interest and Magellan Petroleum Corporation with a 35% interest. Co-investors in Horse Hill Developments are Alba Mineral Resources PLC, Regency Mines PLC, Angus Energy Ltd, (Magellan's partner in the project) Solo Oil PLC, Doriemus PLC, Stellar Resources PLC and UK Oil & Gas Investments PLC.
It is worth noting that Magellan Petroleum, Listed on the NASDAQ code MPET:NAQ has seen its share its share price rise by over 95% this year.
What is also interesting is that since the 3rd June 2014 when Magellan announced its plans for two UK wells which included Horse Hill, the share price has risen by 14%
So its pretty interesting, not just UK investors will be looking out to see how Horse Hill gets on, but also are friends across the pond.
http://www.magellanpetroleum.com/media-center/press-releases/detail/184/magellan-announces-plans-for-two-uk-wells-in-2014
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