Angus Energy analysis of Lidsey delivers a ‘pleasant surprise’
The Lidsey-X2 well is expected to be brought into production this week.
Company
LON:ANGS
Angus Energy is an OGA approved, independent UK onshore oil and gas development, production and operations company. We are focused on leveraging our expertise to advance our portfolio of UK assets as well as acquire, manage and monetise select projects. Angus Energy owns and operates conventional production fields in Brockham and Lidsey. OUR COMPANY FOCUS Safe Operations Environmental Safety & Compliance Increase Production and Recovery of Existing Assets Actively Manage Risks and Costs Through Financial Management And Operational Control Of The Entire O&G Process Portfolio Growth Through Select Onshore Appraisal And Development Projects
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The Lidsey-X2 well is expected to be brought into production this week.
Chief executive Hugh Mackay highlighted the oiler sees " so much activity on so many fronts in the months ahead".
Well results, funding deals and the start of new campaigns were the source of much of this week's oil and gas highlights.
The well has already been drilled and earlier this week, the Oil & Gas Authority greenlighted production from the Kimmeridge zone
Doriemus boss David Lenigas said it was 'excellent' news for the Brockham partners
The Holmwood project is targeting a conventional oil prospect but will also gather information on the Kimmeridge oil play in this location.
New discoveries onshore UK as well as abroad provided the week's oil and gas highlights.
The Horse Hill follow-ups are showing significant signs of success, but, the markets want to see some material production statistics
Angus has unlocked a new productive zone and also cut a section of the Kimmeridge zone which will be the subject of further evaluation.
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Angus awaits start-up at Brockham and production is expected in October at Lidsey.
A look at some of the biggest risers and fallers in London today
A longer term production test and a programme of two new wells could be in store, if a planning decision goes in favour of the group of oil companies invested in Horse Hill.
Shares in a number of companies with stakes in the Horse Hill oil project have rallied today
UK Oil & Gas Investments (UKOG), Angus, Doriemus and Alba all had news on Monday as they work to follow up the breakthrough success of the Horse Hill discovery, in southern England.
Over the last two to three decades around 30 wells have been drilled into the Kimmeridge layer of the Weald Basin, which underlies the south and south-eastern corner of the country. However those 30 wells never tested for oil as the sedimen
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A look at the week’s highlighted news for the junior oilers
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A look back at some of the week's more interesting stories from those on the junior market
Angus Energy has submitted a required addendum to the Oil & Gas Authority for the field development plan for the Brockham oil field.