Alba Mineral Resources PLC (LON:ALBA) saw its shares jump higher on Wednesday afternoon after it was announced that the Brockham Oil Project was today granted planning approval by the Surrey County Counc
In a statement, the AIM-listed firm said Angus Energy PLC (LON:ANGS), the operator of the Brockham project, was notified that approval was granted by the Surrey County Council for the retention of the BR-X4 well, the regularisation of the BR-X4Z side-track, and the appraisal of BR-X4Z at the Brockham Oil Field.
Alba noted that Angus has further advised that it will perform a seven-day well test on the horizontal Balcombe-2z well at Balcombe - a project Alba does not hold an interest in - prior to commencing today’s approved work at Brockham.
The group said all operations at Brockham will be performed through conventional production and that there will be no hydraulic fracturing or "fracking".
In early afternoon trading, Alba Minerals shares were 6.6% higher at 0.56p, while Angus Energy shot up 26.8% at 11.25p.