Angus Energy PLC

Angus Energy’s Brockham test delivers a lot less than hoped for

Flow test results from Angus Energy Plc’s (LON:ANGS) latest well at Brockham in Surrey were underwhelming, says independent analyst Barney Gray.

Once again a test of the deep lying Kimmeridge clay produced water, which is not what was hoped for, he told Proactive.

Angus tested a large section at 95m and there was a little bit of good quality light oil but as yet none of the developers have been able to generate sustained oil flow, Gray says.

“What we are seeing is big flow rates for small periods but no one has really got on top of it technically.

“The positives are that there is oil there and a lot of it, but we are running out of wells to drill.”

Quick facts: Angus Energy PLC

Price: £0.01

Market: AIM
Market Cap: £6.22 m


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