LONDON (Alliance News) - Angus Energy PLC said Friday it has demobilised the rig for its work-over operations at the Brockham oil field in the Weald basin in southern England and is preparing to analyse the results ahead of moving the project forward.
Angus - which is the operator of the PL 235 Brockham licence, where it has a majority interest - had announced in late March it would start work-over of the well in mid-April.
Other firms with an interest in Brockham include Alba Mineral Resources PLC, which has a 5% direct interest.
On Friday, Angus confirmed the rig had now been "demobilised" and it was now analysing the results "before proceeding to the next stage which would involve bringing on site full well testing equipment and commencing flow tests."
"Additionally, having set the plug, and function tested the downhole pump we believe that we have, as planned, successfully isolated the water zone without bringing hydrocarbons to surface," Angus added.
Shares in Angus Energy were 2.2% lower at 3.89 pence on Friday, Alba Mineral Resources 1.7% higher at 0.24p.
Alba Mineral Resources (ALBA)
Angus Energy (ANGS)