Alba Mineral Resources plc (LON:ALBA) is evidently pleased at the pace of response by Brockham project operator Angus Energy which has detailed the steps it is taking to address water influx issues at the well.
The company, in a statement after Tuesday’s stock market close, noted that long lead equipment to isolate the water zones has now been sourced and is ready for shipping from the USA.
Angus has sourced a ‘primary item of equipment’ more efficiently and cost-effectively from another supplier – avoiding a three-month manufacturing delay.
The operator is expected to select a rig for the well programme immediately, along with the submission of a detailed engineering programme for approval by its partners and relevant regulators.
It is expected that the programme would first see the isolation of the water zones, before starting oil production testing.
George Frangeskides, Alba executive chairman, said: "It is good to hear that Angus Energy is advancing plans at pace to tackle the water influx at Brockham. We look forward to reporting on further details in due course."
Alba owns a 5% interest in the Brockham field.