Angus Energy receives approval to move forward with Lidsey-X2

Angus Energy announced on Tuesday that, following West Sussex County Council approval, it had now also received permission from the Environment Agency to drill the Lidsey-X2 horizontal production well at its Lidsey production oil field, license PL 241.

The AIM-traded company said it would now seek the required approvals from the Health and Safety Executive and the Oil and Gas Authority.

It described the Lidsey Oil Field as being located near Bognor Regis in the south of Britain.

Lidsey-X2 would target the upper crest of the producing Great Oolite reservoir, and would also pass through the Kimmeridge layers, allowing for electronic logging of the layers and sampling of the drill cuttings for a detailed comparison to the “encouraging results” Angus encountered at Brockham-X4Z.

There remained no change to the company's earlier guidance with regards to operations at its Brockham Oil Field, the board confirmed.

“Receiving approval for the Lidsey-X2 production well from the Environmental Agency is another milestone in delivering our business plan of providing low cost, low geological risk, long term conventional oil production,” said Angus chairman Jonathan Tidswell-Pretorius.