Angus Energy's shares rise on Brockham production update

Shares in Angus Energy are up more than 5% after confirming that, following extensive analysis of the BR-X4Z sidetrack well, it intended to bring the Kimmeridge into production at its existing Brockham production facility.

This would take place as soon as the necessary Oil & Gas Authority approval was in place, said Angus Energy.

It said preliminary results from Brockham X4Z confirmed very similar thickness of reservoir and properties to those reported at Horse Hill.

"The gross thickness of Kimmeridge in Brockham X4Z is some 385m thick. The two limestone intervals (each around 30m) tested in Horse Hill are also seen in the Brockham well," the company said in a statement.

"The reservoir properties appear to be very similar to Horse Hill, based on electrical logging evidence."

At 10:37 GMT, shares in AIM-quoted Angus were up 5.1% to 12.88p each.