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Share Name Share Symbol Market Type Share ISIN Share Description
Angus Energy Plc LSE:ANGS London Ordinary Share GB00BYWKC989 ORD GBP0.002
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.025 -2.78% 0.875 0.85 0.90 0.90 0.875 0.90 4,709,213 16:21:44
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.1 -2.5 -0.4 - 8

Angus Energy PLC Approval of Saltfleetby Field Development Plan

09/06/2021 4:29pm

UK Regulatory (RNS & others)


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RNS Number : 3839B

Angus Energy PLC

09 June 2021

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.

9 June 2021

Angus Energy Plc

("Angus Energy", "Angus" or the "Company")

Approval of Saltfleetby Field Development Plan

Angus Energy plc (AIM: ANGS) is pleased to announce that the Oil & Gas Authority has approved the Company's Field Development plan in relation to its plans for the Saltfleetby Gas Field (the "Field"), which includes the side-track of well SF07, deemed the preferred wellbore over SF05 for this operation, and has consented to the proposals for the recommissioning of the Field.

George Lucan, Managing Director, writes: "This is excellent news and an important milestone in the Company's regulatory timetable for the recommissioning of Saltfleetby. We will proceed to tender for rigs and associated equipment over the coming fortnight."

On other business the Company is pleased to announce that it has become a member of the Renewable Energy Association, one of the leading organisations in the UK for transition energy projects. We are particularly pleased by the interest and support shown by the REA in the arena of geothermal energy.

Finally, the Company regrets that it is engaged in a dispute, disclosed to lenders prior to signing, over a significant invoice from a financial service provider (not the Company's Nomad or Broker) and has sent a letter before action in respect of the same. In the opinion of the Board, properly advised by legal counsel, the net claim is unlikely to be material.

END.

Enquiries:

 
 Angus Energy Plc               www.angusenergy.co.uk 
 George Lucan                   Tel: +44 (0) 208 899 6380 
 
 
 Beaumont Cornish (Nomad)       www.beaumontcornish.com 
 James Biddle/ Roland Cornish   Tel: +44 (0) 207 628 3396 
 
 WH Ireland Limited (Broker) 
 Katy Mitchell/ Harry Ansell    Tel: +44 (0) 113 394 6600 
 
 Flagstaff PR/IR                angus@flagstaffcomms.com 
 Tim Thompson                   Tel: +44 (0) 207 129 1474 
 Fergus Mellon 
 Aleph Commodities              info@alephcommodities.com 
 

Notes

About Angus Energy plc

Angus Energy plc is a UK AIM quoted independent onshore Energy Transition company with a complementary portfolio of clean gas development assets, onshore geothermal projects, and legacy oil producing fields. Angus is focused on becoming a leading onshore UK diversified clean energy and energy infrastructure company. Angus Energy has a 51% interest in the Saltfleetby Gas Field (PEDL005), majority owns and operates conventional oil production fields at Brockham (PL 235) and Lidsey (PL 241) and has a 25% interest in the Balcombe Licence (PEDL244).

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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June 09, 2021 11:29 ET (15:29 GMT)

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