It sure is. Oldfield has been able to contribute pretty good pieces in every genre he played. (by 'every genre' i mean prog rock, 80's pop-rock, folk, new age, and very recently contemporary pop-rock&rock. lol pretty wide and distinct sounds).
If you liked that one i'd suggest you his "Voyager" album. Mont St. Michel was from that album and I'm putting one more song below from same album as well for reference. I'm not sure the song belongs to him, it might be a classic folk piece because i think i heard similar melody in different songs as well. Even if that's the case, you could call this a pretty good cover.