The oil and gas company, Angus Energy, made no money from production in the year 2016-2017, according to its accounts published today. But its message to investors was that 2018 would be different.
Angus Energy has said it expects to test its newly-acquired well at Balcombe in West Sussex, before turning to Brockham in Surrey.
Angus Energy has denied that its planning application on the Brockham oil site in Surrey was found to be invalid.
Correspondence seen by DrillOrDrop shows that the planning application submitted by Angus Energy for its Brockham oil site late last year has been found to be invalid by Surrey County Council.
Angus Energy announced this morning it would be producing oil from four wells in the Weald in southern England in the first three months of this year.
The number of onshore oil and gas wells drilled in the UK in 2017 was another 50-year low for the industry.
DrillOrDrop’s round-up of the likely action on fracking and onshore oil and gas activity in 2018.