StockMarketWire.com - UK Oil & Gas confirmed that Surrey County Council had granted full planning consent for long-term oil production at the its flagship Horse Hill oil field near Gatwick Airport.

The planning consent gave permission to produce oil over 25 years at up to 3,500 barrels of per day, from a total of six wells within the Portland and Kimmeridge oil pools.

Consent also included permission to drill one water reinjection well to help maximise oil recovery.

UK Oil & Gas recently increased its holding in Horse Hill to around 85.6%.

Minority shareholder Alba Mineral Resources also welcomed the planning consent.

At 1:24pm:

[LON:ALBA] Alba Mineral Resources PLC share price was -0.01p at 0.2p

[LON:UKOG] UK Oil Gas Investments Plc share price was +0.03p at 1.3p



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