Europa Oil & Gas said the Environment Agency is “minded” to award a permit for drilling and testing the Holmwood exploration well in Surrey.
A four-week public consultation process runs from 15 February to 15 March 2018.
Europa chief executive Hugh Mackay said: “We are pleased to have reached this important stage in the environmental permitting process.
“Whilst we are still in the determination process and a final decision has not been made, it is nonetheless positive that the Environmental Agency is inclined to approve.
“We look forward to the outcome of the consultation process and will keep shareholders updated.”
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