Angus to carry test costs

DIVERSIFIED AJ Lucas has reduced its costs and risks associated with its UK exploration arm by agreeing to a farm-out of its interest in PEDL 244, which includes the suspended Balcombe discovery, to local player Angus Energy.

Angus to carry test costs Angus to carry test costs Angus to carry test costs Angus to carry test costs Angus to carry test costs
Angus, which operates the small Brockham and Lidsey fields nearby in the onshore UK space, will secure a 25% stake in PEDL 244 reducing AJL from 25% to 18.