Production at Angus Energy’s Saltfleetby gasfield and oil flow at Balcombe would “mark a turnaround in the group’s fortunes” and bring “material cash flow for the first time”, the company said today.
Angus Energy has said it will seek a five-year extension to its oil production licence at Brockham in Surrey.
Angus Energy has raised a £1.5m loan facility to pay for the costs of decommissioning oil and gas wells.
“I love it because it is not oil”, the head of Angus Energy said of his new gas asset in Lincolnshire.
Environmental campaigners have dismissed Surrey County Council’s use of the term “extremism” for anti-fracking protests.
UK onshore oil production is being held back by new regulations on water reinjection, Angus Energy told investors this evening.
The Kimmeridge formation at Brockham in Surrey is unlikely to generate significant volumes of oil because it isn’t mature, investors were told this evening.