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.
Angus Energy has said it is in talks to sell its stake in an oil production licence in Surrey after revealing that a controversial sidetrack well was unlikely to flow commercially without extra stimulation.
A new study has found no clear links between the recent swarm of earth tremors in Surrey and local oil drilling activity.
Angus Energy announced today it had raised just over £3m in a placing of more than 70 million new shares.
DRILL OR DROP? 