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Angus Energy Provides Balcombe Update

Source: www.gulfoilandgas.com 8/13/2020, Location: Europe

Angus Energy plc is pleased to announce that, pursuant to Town and Country Planning regulations, the Company has posted notice of its Application for an Extended Well Test at the Balcombe site, and following the statutory seven day waiting period, the submission will be lodged with West Sussex County Council in Chichester no later than Thursday 20th August.

As previously the Company would like to make clear once more that it does not employ, or intend to employ, any hydraulic fracturing techniques on any of its presently operated fields. Hydraulic fracturing is an expensive and complex technique used to improve the performance of wells producing directly from shale reservoirs. As regards Balcombe in particular Angus do not need to use this technique because we will be producing from a limestone reservoir within the shale.

George Lucan, Managing Director, comments "With our revised planning application, over which great care has been taken, we look forward to a fair hearing and positive result which will allow the Company and its shareholders to exploit this valuable asset and make our own contribution to the Government's Net Zero targets specifically by replacing imported hydrocarbons and their higher associated carbon footprint."

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