UKOG has a 6% share ownership interest in Angus Energy, which operates and produces oil from both the Lidsey oil field (PL241, Angus Energy 70%) and Brockham oil field (PL235, Angus Energy 60%) in the Weald Basin.

Angus Energy is planning a side-track on Brockham and a new well at Lidsey.  Both of these oil fields currently produce from a single well. Angus Energy is also the nominated operator a shareholder of HHDL.

The reserves in the Brockham field, reserves in the Lidsey field and contingent resources in the Lidsey field, all as of 31 December 2013 and estimated by RPS, are summarised in the tables below.

Brockham Field Reserves, as of 31 December 2013 (Source: RPS CPR March 2014)

 

Reserves (Mbbl)

 

Gross Field

Angus Working Interest 1

1P 2

2P

3P

1P 2

2P

3P

Brockham 1

17.9

47.0

101.5

10.7

28.2

60.9

1. The Brockham field is in PL235.  Angus Energy’s interest in PL235 is 60%.
2. The 1P case has been truncated to the anticipated PL235 expiry, as published by DECC of 27 October 2017.

Lidsey Field Reserves, as of 31 December 2013 (Source: RPS CPR March 2014)

 

Reserves (Mbbl)

 

Gross Field

Net Angus Working Interest

1P 2

2P

3P

1P 2

2P

3P

Lidsey 1

12.7

36.0

54.7

8.9

25.2

38.3

1.  The Lidsey field is in PL241.  Angus Energy’s working interest in PL241 is 70%.
2.  The 1P case has been truncated to the anticipated licence expiry as published by DECC of 1 December 2017.

Lidsey Field Contingent Resources, as of 31 December 2013 (Source: RPS CPR March 2014)

Field

Contingent Resources (Mbbl) 1

Gross Field

Net Angus Working Interest

1C

2C

3C

1C

2C

3C

Lidsey 2

195.9

413.6

620.3

137.1

289.5

434.2

1. No economic cut-off applied; nominal production cut-off of 6 bopd or 1 January 2033 (whichever earlier) applied, with an assumed start date of 1 January 2016.
2. The Lidsey field is in PL241.  Angus Energy’s working interest in PL241 is 70%.