Angus Energy Secures Rig Contract For Work At Brockham Oil Field

LONDON (Alliance News) - Angus Energy PLC said Thursday it had entered into a rig contract for ...

Alliance News 21 March, 2019 | 1:20PM
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LONDON (Alliance News) - Angus Energy PLC said Thursday it had entered into a rig contract for its work-over operations at the Brockham oil field in the Weald basin in southern England.

Angus - which is the operator of the PL 235 Brockham licence, where it has a majority interest - handed the contract to PW Well Services Ltd with the rig mobilisation expected in mid April.

Other firms with an interest in Brockham include Alba Mineral Resources PLC, which has a 5% direct interest.

Angus emphasised that under the contract the operating day rates are fixed and that the rig grew are "all experienced onshore personnel".

"We are pleased to have identified and secured this rig and crew on such competitive terms and look forward to getting on with the exciting and important work ahead of us at Brockham", Angus Interim Managing Director George Lucan said.

Shares in Angus Energy were 10% higher at 5.30 pence on Thursday, Alba Mineral Resources 3.2% higher at 0.24p.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Angus Energy PLC 5.85 GBX 2.63 -
Alba Mineral Resources PLC 0.23 GBX 0.00 -
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