The final flow test at Horse Hill measured that an aggregated flow of oil at the site would be equivalent to 8.5% of the UK’s total daily onshore production.
UK Oil & Gas Investments PLC (LON:UKOG) chief executive Stephen Sanderson has called the Horse Hill flow-testing results “outstanding.”
Neil Ritson, chairman of Solo Oil (LON:SOLO) said: “This is truly a game changing well.”
In other news, Michelmersh Brick Holdings Plc (LON:MBH) doubled its dividend after a strong year operationally and financially – one in which it wiped out debt and grew profits by 77%.
Output rose 3% in the year to December and the average selling price increased by 9%. This lifted turnover to £2.1mln, while pre-tax profits grew to £4.6mln from £2.6mln the year earlier.
Over at Caledonia Mining (LON:CMCL TSE:CAL), gold production rose in 2015 despite work on a major upgrade to the Blanket mine in Zimbabwe.
Grades were lower on average over the year, which pushed up costs, while revenues were also affected by the lower gold price though this has since recovered.
Meanwhile, Amur Minerals Corporation (LON:AMC) has completed the annual task of building a winter ice road to the Kun Manie site, in Russia’s Far East, and it is now making preparations for the 2016 field season.
The winter ice road is approximately 350 kilometres long joining Kun Manie to a rail connection in Baikal, Siberia. A total of 240 tonnes of fuel and 160 tonnes of supplies will be transported along the ice road to support work programmes at the site in the 2016 season.
Elsewhere, DP Poland plc (LON:DPP), the Domino’s Pizza franchise holder for Poland, expects 2016 to be a milestone year as it unveiled strong sales growth and an improvement in underlying earnings.
Last year marked a step-change in that corporate store EBITDA went to a positive £174,000 compared to a loss of £254,000 the previous year due to strong sales growth and reduced costs.
Tighter insurance requirements have sparked a surge in new orders from UK-based transport and logistics groups for SerVision’s (LON:SEV) in-vehicle camera systems.
The largest is with Maple Fleet Services, which is taking 85 systems for training and support over two years, worth £73,814.
Moving to aircraft leasing specialist Avation PLC (LON:AVAP), where a fourth ATR 72-600 passenger plane has been acquired and delivered to the regional airline Flybe Group PLC.
And another thing, health-focused wearable technology group CloudTag Inc (LON:CTAG) has raised further funds through a premium priced share issue.
The group issued 7mln shares at 3.33p - a 15% premium to the mid-market closing price on Friday (March 18) to raise £225,400.
And finally, blood testing technology group ANGLE PLC (LON:AGL) has potentially made a breakthrough in the detection, monitoring and treatment of prostate cancer based on the results of a study by the Barts Cancer Institute.
The data show that ANGLE’s Parsotix liquid biopsy device not only detects the killer disease, but also allows doctors to assess how aggressive the cancer is.