11th Jun 2014 10:06
LONDON (Alliance News) - UK Oil & Gas Investments PLC Wednesday said it has started work on the second stage well intervention on its Lidsey-1 well in the UK Weald Basin.
The work the second stage production enhancement programme at the Lidsey Oil Field is expected to take around one week to complete.
UK Oil and Gas owns 6% of Angus Energy Limited , the operator and 70% owner of the Lidsey Oil Field.
"This long awaited production improvement programme on the Lidsey Oil Field, near Bogna Regis, is designed to open up the existing un-tapped sections of the Lidsey-1 well," Chairman David Lenigas said in a statement.
Results of the programme will be announced when completed, the company said.
UK Oil and Gas shares were quoted up 5.7% at 0.555 pence Wednesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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