The exploratory oil well planned for Broadford Bridge, near Billingshurst in West Sussex, is likely be drilled in spring 2015, according to information for investors.
The cost of drilling is estimated at $5m (£3.17m) and, under a deal with the UK government, the well would secure the future of two license areas for the operators. The well is expected to explore for conventional hydrocarbons but possibly also what are described as “other potentially productive formations”.
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