Angus Energy Provides Lidsey Oil Field

Source: www.gulfoilandgas.com 3/4/2021, Location: Europe

Angus Energy plc is pleased to announce that following its announcements on 22 and 24 February 2021, Angus will share with investors a detailed presentation on the Lidsey Oil Field and a further presentation updating shareholders on progress on all of its existing assets and its focus on developing Transition projects and, in particular, on one potential new project which the Company is progressing in the geothermal energy sphere.

The Lidsey presentation will focus on technical work in seismic and an overall re-evaluation of the reservoir. At IPO in 2016 the Company expected the Lidsey Field would produce up to 300 barrels a day. The document also indicated 9.7m barrels of stock tank oil in place in the licence (although only a limited portion of that could be classified as recoverable based on one well). It is hoped that the revised seismic work, when confirmed, will show the reservoir to have greater aerial extent as well as providing a much improved drilling target as compared to Lidsey X2.


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