Arkadian Strategic Metals to Divest Interest in Horse Hill Oil Project in UK to Energy B Plc

05:32 AM EDT, 10/20/2026 (MT Newswires) -- Arkadian Strategic Metals (AKN.L) will offload its interest in the Horse Hill oil project in the UK for 137,386 pounds sterling in cash to energy B plc (NRGB.AQ), according to a Tuesday filing. The London-listed critical minerals explorer will sell its entire 18.1% shareholding in Horse Hill Developments Ltd., representing an effective 11.765% stake in Petroleum Exploration and Development Licence 137 at Horse Hill, Surrey. For the release of Arkadian's shareholder loan to Horse Hill Developments Ltd., energy B will issue 400,000 warrants to Arkadian. The warrants will be exercisable for ordinary shares in energy B at 0.12 pound per share for three years. The deal is pending the approval of the North Sea Transition Authority. Separately, energy B is buying a majority interest in Horse Hill from UK Energy Group plc (UKEN.L).