Angus Energy PLC Approval of Saltfleetby Field Development Plan (3839B)
10 June 2021 - 1:29AM
UK Regulatory
TIDMANGS
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).
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END
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