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Sonorex Oil & Gas seeking £2.3mln to drill 'highly prospective' Bristol Channel Basin

Sonorex Oil & Gas Ltd managing director David Barker and consultant John Elsden tell Proactive Investors that the exploration company is now looking to raise £2.3 million in order to drill in the Bristol Channel Basin, onshore in South Wales.

Licenses to do so have been obtained, although it is unlikely many more will be granted by the government given the global movement towards renewable energy sources and away from hydrocarbons.  

The pair explain that it is a conventional oil & gas play which will require straightforward vertical drilling of about 4000 feet to investigate. The investment is EIS compliant.

 

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