10th Sep 2015 07:41
LONDON (Alliance News) - Hurricane Energy PLC on Thursday said the UK Oil and Gas Authority has agreed to its request for a field determination area for its Lancaster project in the UK North Sea and has granted its discovery oil field status.
The decision is the first step for the company ahead of its plans to submit the Lancaster early production system field development plan.
"I'm delighted that the Oil and Gas Authority has granted Lancaster oil field status which is an important step in progressing to first oil from Lancaster. Furthermore, the granting of oil field status for Lancaster helps the partitioning of Hurricane's other discoveries and prospects that sit within Licence P1368," said Chief Executive Robert Trice.
Shares in Hurricane were up 1.2% to 15.17 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
HUR.L