(Alliance News) - Angus Energy PLC on Thursday said it has applied to conduct an extended well test at its Balcombe site near Crawley, southern England.
The independent onshore oil and gas development company focused on the UK said it will not employ any hydraulic fracturing techniques.
Managing Director George Lucan said: "With our revised planning application, over which great care has been taken, we look forward to a fair hearing and positive result which will allow the company and its shareholders to exploit this valuable asset and make our own contribution to the government's net zero targets specifically by replacing imported hydrocarbons and their higher associated carbon footprint."
Angus Energy shares were up 4.2% at 1.22 pence per share on Thursday afternoon in London.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Angus Energy (ANGS)