Angus Energy PLC Brockham Field Update (1595J)
June 26 2017 - 7:00AM
UK Regulatory
TIDMANGS TIDMANGB
RNS Number : 1595J
Angus Energy PLC
26 June 2017
26 June 2017
Angus Energy plc
("Angus Energy")
Update on Brockham oil field operations
Angus Energy plc. (the "Company") is pleased to announce that
Surrey County Council has now confirmed that the planning
application to regularise the upgraded surface infrastructure at
the Brockham Oil Field (PL235) will not require an Environmental
Impact Assessment.
The Brockham site has undergone extensive modification and
upgrade works (including new site cabins, fencing, concrete bunding
works for high rate production equipment and associated surface
structures) in preparation for the new oil production planned from
the recent Brockham operations. This work is separate to the
subsurface work undertaken by Angus and in this regard, the
Company's guidance on 10 March 2017 and reiterated since then,
remains unchanged.
Previous guidance for oil production to commence from the
Kimmeridge at Brockham in the summer 2017 remains unchanged.
In addition, the Company notes the RNS published last week, 'Oil
Seeps from Kimmeridge Limestone Core Samples' by UK Oil & Gas
Investments plc. at Broadford Bridge.
The initial coring results at the Broadford Bridge exploratory
site, approximately 30km southwest of the Brockham Oil Field and
approximately 22km northeast of the Lidsey Oil Field, reported on
Friday are supplementary confirmation of Angus Energy's RNS of 3
March 2017 outlining the detailed maturity analysis and fracture
analysis of the Brockham-X4Z well's Kimmeridge reservoir utilising
the Weatherford Ultra Wave Acoustic Borehole Imaging Tool.
Results of Angus Energy's published analysis on the Brockham-X4Z
side track confirmed the reservoir consists of numerous interbedded
layers of limestone and shale with abundant natural fracturing. The
gross thickness of the Kimmeridge reservoir in Brockham-X4Z is
calculated to be 385 meters. Further analysis strengthens our
hypothesis that the Kimmeridge reservoir in that flank of the Weald
Basin (covering Brockham, Horse Hill etc.) is a single reservoir
which may even extend as far south as Angus Energy's field at
Lidsey although maturity may not be adequate for hydrocarbon
production (to be evaluated during upcoming Lidsey well). This
Kimmeridge reservoir is naturally fractured and can be produced via
conventional production methods (i.e. no fracking). The production
of the Kimmeridge oil will be realised via the natural fracture
system present in the interbedded limestone and shale layers in the
reservoir.
A 200-meter band of the reservoir in Brockham-X4Z is naturally
fractured and will be placed into production following final
consent from the OGA.
Paul Vonk, the Company's Managing Director, commented:
"All are very encouraging results for the ultimate potential of
Angus Energy's assets in the Weald Basin. Our analysis along with
the reported results from Broadford Bridge last week, further
reduce the operational risk of our planned production from the
Kimmeridge at Brockham this summer."
Qualified Person's Statement:
Chris de Goey, a Non-Executive Director of the Company, who has
over 20 years of relevant experience in the oil and gas industry,
has approved the information contained in this announcement. Mr de
Goey is a member of the Petroleum Exploration Society of Great
Britain and the Society of Petroleum Engineers.
END.
Enquiries:
Angus Energy Plc
----------------------------- --------------------------
Jonathan Tidswell-Pretorius Tel: +44 (0) 208 899 6380
/ Paul Vonk
----------------------------- --------------------------
Beaumont Cornish (NOMAD)
----------------------------- --------------------------
James Biddle/ Roland Cornish Tel: +44 (0) 207 628 3396
----------------------------- --------------------------
www.beaumontcornish.com
----------------------------- --------------------------
Optiva Securities Limited
(BROKER)
----------------------------- --------------------------
Jeremy King/ Ed McDermott Tel: +44 (0) 203 137 1902
----------------------------- --------------------------
Abchurch
----------------------------- --------------------------
Tim Thompson Tel: +44 (0) 20 7398 7700
----------------------------- --------------------------
About Angus Energy plc.
Angus Energy plc. is an AIM quoted independent onshore oil and
gas development company focused on leveraging its expertise to
advance its portfolio of UK assets as well as acquire, manage and
monetise select projects. Angus Energy owns the majority interest
and operates conventional oil production fields in Brockham (PL
235) and Lidsey (PL 241).
Full details on the PL 235 and PL 241 licences are set out in
the Company's AIM Admission document dated 12 November 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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