3rd May 2019 10:24
LONDON (Alliance News) - Alba Mineral Resources PLC and Angus Energy PLC on Thursday said the BRX4Z sidetrack at the Brockham oil field in southern England has now been successfully re-perforated from 988 meters to 1,044 meters depth.
Alba has a 5% interest in production licence 235, which comprises the previously producing onshore Brockham oil field. Angus is a majority owner and an operator of the field.
Production and development company Angus said the work was undertaken to establish the "best possible" communication with the fracture system present in the Kimmeridge Clay formation.
Following the re-perforation, the tubing-deployed hydraulically-set bridge plug has been installed, and the well will now be re-completed to prepare the borehole for the next operational stage.
However, the parties intend to evaluate the results of the work before proceeding to the next stage, the two companies said.
Mineral exploration and development company Alba said the workover rig will be demobilised once the new completion has been run in hole, which is expected to take place early next week.
Alba shares were trading 4.2% lower on Friday at 0.23 pence each, while Angus shares were down 1.2% at 4.00p each.
Related Shares:
Alba Mineral ResourcesAngus Energy