UK Oil & Gas and its partners in the Horse Hill Developments (HHDL) company drilling for oil close to Gatwick Airport, have applied for planning permission with Surrey County Council for a further round of drilling.
Stellar Resources announced its interim results for the six months to 30 June on Tuesday, with an operating loss of £115,000 widening from £80,000 in the first half of last year.
The Horse Hill project in Surrey looks like providing a bonanza for the range of AIM-listed companies involved after a near trebling of oil in place estimates to 22.9m barrels per square mile.
Oil has continued to flow naturally from a discovery well near Gatwick Airport owned by a consortium of oil exploration companies, with the first two tankers of crude sent for refining.
First ever crude oil has flowed at encouraging levels from the Horse Hill discovery well being drilled in the Weald Basin near Gatwick Airport, as anti-fracking protests reconvened nearby.
Stellar Resources said its subsidiary, Gold Mines of Wales (GMOW), has been given a six-year extension to its exploration license in Wales.
UK Oil and Gas Investments (UKOG) has been stopped from drilling oil at Horse Hill, near Gatwick, The Telegraph reported late Tuesday.
UK stocks advanced on Thursday despite some mixed economic data, as ongoing M&A speculation and easing concerns about Greece drove markets higher.
Confirmation by chancellor George Osborne of budgetary measures to ease the pain in the struggling oil industry gave energy producers and services stocks another big lift on Wednesday.
Shares in a number of AIM oil producers rose on Wednesday after an update on the Horse Hill discovery in the UK Weald Basin showed further potential oil pay.
Shares in Stellar Resources plunged by a third after the gold explorer said it was facing exploration challenges at its joint venture in north Wales.
Mining firm Stellar Resources revealed positive assays from sampling at the Clogau St David's gold mine in Wales.
Shares in Stellar Resources sparkled after the gold miner said it was reviewing the results of a study of a mine known for providing gold to royals.
A string of oil companies have announced that part of a well near Gatwick airport in southern England has come up dry, knocking their shares.
A string of oil companies have struck oil near Gatwick Airport in southern England.
Oil explorers Solo Oil, Alba Mineral Resources and Stellar Resources have struck oil at a site in southern England.
Horse Hill Developments Ltd (HHDL), a joint venture (JV) group developed by several AIM-listed companies, has now been granted final approvals from the UK Environment Agency to go ahead the Horse Hill Prospect in the Weald Basin, Surry.
AIM-listed gold explorer Stellar Resources was a notable decliner on Thursday despite announcing progress on a mining scheme in North Wales.
Rising crude prices helped lift stocks in the oil sector on Monday, as the ongoing violence in Iraq raised concerns about the knock-on effect on supply.
Stellar Resources has commenced civil works for the drilling of the Horse Hill-1 well on the prospect going by the same name, with completion expected by August 2014.