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
  0.00 0.0% 0.925 0.85 1.00 0.925 0.85 0.925 3,230,747 12:04:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 0.1 -2.8 -0.9 - 5

Angus Energy PLC Balcombe Update

25/09/2019 1:55pm

UK Regulatory (RNS & others)


Angus Energy (LSE:ANGS)
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TIDMANGS

RNS Number : 6649N

Angus Energy PLC

25 September 2019

25 September 2019

Angus Energy Plc

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

Balcombe Update

Angus Energy plc (AIM : ANGS) is pleased to announce that today, pursuant to Town and Country Planning regulations, the Company has posted notice of its Application for an Extended Well Test at the Balcombe site, and following the statutory seven day waiting period, the submission will be lodged with West Sussex County Council in Chichester on Wednesday 2(nd) October.

In response to Investor and Media enquiries the Company would like to clarify its field operating techniques at Balcombe, in which the Company is the Operator and has a 25% interest. Specifically the Company would like to make clear once more that it does not employ, or intend to employ, any hydraulic fracturing techniques on any of its presently operated fields. Hydraulic fracturing is an expensive and complex technique used to improve the performance of wells producing directly from shale reservoirs. As regards Balcombe in particular Angus do not need to use this technique because we will be producing from a limestone reservoir within the shale.

George Lucan, Managing Director, comments "There has been a small delay to the timetable for submission of Planning Application for Balcombe. This is due to the special care which we are taking on this Application in terms of procuring all conceivable environmental reports and engaging in preliminary community liaison. We are pleased nonetheless to have this step completed.

I should also like to take this moment to remind shareholders of our forthcoming shareholder update meeting and presentation followed by a Q&A session on 30 September 2019 at 17:30 (U.K. local time), at 1 America Square, 17 Crosswall, London, EC3N 2LB immediately following which our online investor communications portal, which allows for questions to be posed directly to the Board and viewed by users, will be up and running."

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 
 

Notes

About Angus Energy plc. Angus Energy plc. is a UK AIM quoted independent onshore oil and gas production and development company focused on leveraging its expertise to advance its portfolio of UK assets as well as acquire, manage and monetise select projects. Angus Energy 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) and a 12.5% interest in the PEDL143 Licence (A24 Prospect).

Qualified Person's Statement:

Andrew Hollis, the Technical Director of the Company, who has over 40 years of relevant experience in the oil and gas industry, has approved the information contained in this announcement. Mr Hollis is a Fellow of the Geological Society and member of the Society of Petroleum Engineers.

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.

END

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(END) Dow Jones Newswires

September 25, 2019 08:55 ET (12:55 GMT)

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