Angus Energy said it was pleasantly surprised by initial geochemical test results from the Kimmeridge and Oxford layers at the Lidsey oil field which were undertaken to determine their commercial viability.
Angus said that the initial results conducted on the drill cutting samples from the 66.2 metres of Kimmeridge and 105.0m of Oxford layers indicated a strong similarity to the maturity of the Kimmeridge layers at Brockham Field.
Managing director Paul Vonk said: 'The initial geochemical test results from the Kimmeridge and Oxford are a pleasant surprise.
'Their similarity to our Brockham Oil Field BR-X4Z well in the north of the Weald Basin shows that Lidsey has the potential to increase the footprint of the oil bearing Kimmeridge layers in the Weald.
'We look forward to putting the Lidsey X2 into production this week.'
(LON:ANGS) Angus Energy Plc share price was +0.75p at 30.5p