("Gunsynd" or the "Company")
Horse Hill Update
Gunsynd is pleased to announce that it has been informed by Horse Hill Developments Ltd ("HHDL"), the operator of Horse Hill licenses PEDL137 and PEDL246, containing the Horse Hill-1 ("HH-1") oil discovery, that it has now received final decision notices from Surrey County Council ("SCC"), discharging all of the pre-commencement conditions.
This follows the planning approval in November 2017 by SCC's Planning and Regulatory Committee to enable HHDL to carry out extended flow tests at HH-1, plus drill and test both a sidetrack from the existing HH-1 well and new well Horse Hill-2.
HHDL has received the necessary permission from the Environment Agency and is now awaiting approval from the Oil and Gas Authority.
Gunsynd holds a 2% interest in HHDL equivalent to a 1.3% interest in the Horse Hill licences, PEDL137 and PEDL246, and the Horse Hill oil discovery.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information, please contact:
+44 (0) 20 7440 0640
Cairn Financial Advisers LLP
+44 (0) 20 7213 0880
James Caithie / Sandy Jamieson
Peterhouse Corporate Finance
+44 (0) 20 7469 0930