Angus Energy is expected to return to its West Sussex oil site at Balcombe next week, according to the parish council.
A report on the council’s website said the company expected to be at the site for two to three weeks.
The council said:
“There has been no direct communication from Angus Energy”.
According to information given to the council, Angus will be testing the water encountered in the oil exploration well at Balcombe and will be pumping for 7-10 days.
In September 2018, Angus Energy carried out two limited flow tests at Balcombe. The company reported that it had encountered unexpected water in the well and had run out of time to do more than two flow tests because of equipment failure.
Earlier this month, it said it was seeking approval from the Oil & Gas Authority and the Health and Safety Executive for an extended well test at Balcombe.
Balcombe Parish Council reported as of yesterday (13 February 2019) Angus had only two of the four required regulatory approvals.
The council added:
“There will be approximately 10 vehicles on site but no rig. Typically, there will be a couple of vehicle movements per day other than the initial mobilisation and de-mobilisation days.”
If the work goes ahead next week, it will coincide with the closure of the railway line between Brighton/Lewes and Three Bridges, when buses will replace trains.
This morning, a statement from Angus Energy gave details of changes to the terms of a £3m loan facility between the company and YA II PN Ltd and Riverfort Global Opportunities PCC Limited.
Angus may now, subject to two days’ notice, repay the initial advance of £1.5m at any time within 45 calendar days, rather than 30 calendar days, of the drawdown date and the lock-up period. Angus has agreed to issue the loan companies with additional warrants and to changes in the price for shares.
The Angus share price has fallen steadily over the past month, from around 10p to around 5p.