#ANGS is to form a joint venture with Cuadrilla Resources and Lucas Energy. Angus is to take a 25% stake in the Weald Balcombe licence for £4M and becomes the operating partner. This is funded by two previous share placings for 2M and 3M respectively.

Angus Energy Managing Director Paul Vonk describes the Balcombe site as 'Prime Weald', says planning is in place for flow testing and will prioritise this site as having the greatest oil producing potential.