Angus Energy PLC Operational Update (4989R)
22 September 2017 - 4:00PM
UK Regulatory
TIDMANGS TIDMANGB
RNS Number : 4989R
Angus Energy PLC
22 September 2017
22 September 2017
Angus Energy PLC
("Angus Energy", the "Group" or the "Company")
Operational Update
Angus Energy is pleased to announce that operations at the
Lidsey Oil Field are on schedule. Guidance given by the Company in
its RNS of 8 September 2017 is unchanged.
A 9 5/8" steel casing has now been set and cemented and the
Company is preparing for the next phase of operations: drilling the
8 1/2" section which will pass through the Kimmeridge layer. This
will be followed by a 6" section to be drilled through the Great
Oolite production reservoir.
Upon completion of this well, the drilling rig will be mobilised
off-site and the field is expected to recommence production.
Brockham Oil Field
Following Angus Energy's guidance from its RNS of 11 May 2017,
the Company has completed and submitted amendments to its FDP
Addendum after consultation with the Oil & Gas Authority
("OGA") to include provisions for on-site power generation. These
provisions detail a safe and efficient production process which
will have the added benefit of allowing the Company to repurpose
surplus power to the National Grid.
In addition, the Company has now received approval for its
planning application to regularise the upgraded surface
infrastructure at Brockham.
Accordingly, the Company is preparing for final site preparation
and subsequent production once the amended FDP Addendum is approved
by the OGA. Given the required amendments to the FDP Addendum, the
Company's previous guidance regarding bringing Brockham into
production by the end of the summer is now delayed. The Company
will work to commence production as soon as practical following OGA
approval of the FDP Addendum and will update Shareholders in due
course.
Paul Vonk, Angus Energy's Managing Director, commented:
"We are pleased with the progress of drilling Lidsey-X2 and look
forward to start producing again from the Lidsey oil site in
October.
We welcome these further enhancements to the Brockham site and
its power generation as we continue to prepare for safe production
for years to come."
END.
Enquiries:
Angus Energy Plc
----------------------------- --------------------------
Jonathan Tidswell-Pretorius Tel: +44 (0) 208 899 6380
/ Paul Vonk
----------------------------- --------------------------
Beaumont Cornish (NOMAD)
----------------------------- --------------------------
James Biddle/ Roland Cornish Tel: +44 (0) 207 628 3396
----------------------------- --------------------------
www.beaumontcornish.com
----------------------------- --------------------------
Optiva Securities Limited
(BROKER)
----------------------------- --------------------------
Jeremy King/ Ed McDermott Tel: +44 (0) 203 137 1902
----------------------------- --------------------------
Yellow Jersey
----------------------------- --------------------------
Tim Thompson Tel: +44 (0) 203 735 8825
----------------------------- --------------------------
About Angus Energy plc.
Angus Energy plc. is an AIM quoted independent onshore oil and
gas 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 owns and operates
conventional oil production fields in Brockham (PL 235) and Lidsey
(PL 241).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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