Angus Energy PLC Investor Presentation - Matters Arising (2882O)
01 October 2019 - 4:01PM
UK Regulatory
TIDMANGS
RNS Number : 2882O
Angus Energy PLC
01 October 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (EU No. 596/2014) ("MAR"). THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC
DOMAIN.
1 October 2019
Angus Energy Plc
("Angus Energy" or the "Company")
Investor Presentation - Matters Arising
The Company held its investor presentation last night at 1
America Square. A number of questions were raised by the
participants which have been used to form the core of our open
forum for investors to pose questions on our website at
http://www.angusenergy.co.uk/media/investor-questions/
Three lines of questioning resulted in the release of
information of potential price sensitivity. One investor asked what
the present cash resources of the Company were. At present these
stand at approximately GBP3.4 million.
Investors also asked what the Company's intentions were as to
the Brockham Licence. The Company has applied to the OGA for an
extension to the Licence at Brockham with a view to developing the
Portland Reservoir - an option explicitly contemplated by RNS
release of 28 June 2019. Additionally the Company clarified that
although interest has been expressed by a third party in purchasing
the Company's share in this Licence, these discussions have not as
yet progressed any further.
Finally, more than one investor expressed interest as to whether
the Company was aware of a class action lawsuit by certain
investors claiming loss by virtue of acts or omissions by the Board
or senior management which has been rumoured to be imminent for
some months now.
George Lucan, Managing Director, writes:
"I would like to take the opportunity to state that, whilst
Angus Energy is unaware of the details of any such putative action,
I can confirm that the Company has not received any formal or
informal approaches in this regard by any investors or their legal
representatives. At the present moment neither I nor the Board can
conceive of any reasonable grounds for such an action and, finding
these rumours to be both unfair and unhelpful to the Company and
its shareholders, we look forward to proving the same in open court
should the opportunity present itself.
It remains to thank those investors who attended our conference
for their constructive criticism and words of support and
encouragement."
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).
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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