Angus Energy said hydrocarbons have been discovered at the Brockham field in England.
The company said work to complete the log, case and cement of a well at the site has now been successfully completed.
Potential reservoirs have since been logged in the Portland, Kimmeridge and Corallian laters with all three formations having hydrocarbon shows.
The well will now, upon confirmation from the Oil & Gas Authority (OGA) be rename BR-X4Z.
Jonathan Tidswell-Pretorius, the company’s chairman, said:”We are pleased to have encountered hydrocarbon shows missed in the previous drilling by BP in 1987 in the three Kimmeridge target intervals and are delighted to see encouragement for the predicted analogy to the Horse Hill geology. Encouragingly, we have also seen oil and gas shows in the underlying Corallian. Further analysis is underway to identify the extent of hydrocarbon presence and the ability of these hydrocarbons to freely move into the wellbore.
“New Ultra Wave well logging technology has been used in the logging of this well and will, once analysed, allow us to make an image of the borehole wall in order to map the presence of, and density of, natural fractures in the target reservoirs. This will enable us to target the most prospective zones which have the highest potential for future production.”