REG - Angus Energy PLC - Balcombe Planning Appeal Successful

Angus EnergyAnnouncement

14/02/2023 09:15

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RNS Number : 8719P  Angus Energy PLC  14 February 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 6/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED
IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

 

 

14 February 2023

Angus Energy Plc

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

Balcombe Planning Appeal Successful

Angus Energy (AIM: ANGS) is pleased to announce that, further to its RNS of 2
March 2021 and 2 August 2021, its appeal against the decision by West Sussex
County Council to refuse permission for an extended well test at its Balcombe
oil site has been upheld.

Angus Energy has a 25% interest in the Balcombe field discovery (PEDL 244)
targeting the Kimmeridge limestones.  The Balcombe 2Z horizontal sidetrack
was drilled in 2013 and permission for a flow test was granted in 2018.  The
test evidenced a definitive oil show with high flow rates for short periods.

The planning permission expired prior to the completion of clean up operations
leaving a quantity of, what the Company subsequently determined to be,
left-over drilling fluids from the 2013 operation.

Hence a new planning permission was applied for in 2020 in order to complete
the clean-up exercise and follow with an extended well test.

As a consequence of yesterday's decision by the Planning Inspectorate, the
Company is now capable of pursing this well test subject to satisfaction of
planning conditions noted in the Appeal Decision as well as the determination
of the variation to the Environmental Permit by the Environment Agency which
we understand to be imminent.

 

END.

 

 

 

Enquiries:

 Angus Energy Plc              www.angusenergy.co.uk (http://www.angusenergy.co.uk/)
 George Lucan                  Tel: +44 (0) 208 899 6380

 Beaumont Cornish (Nomad)      www.beaumontcornish.com (http://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 (mailto: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 100% 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). Angus Energy operates all fields in which it has
an interest.

 

Important Notices

This announcement contains 'forward-looking statements' concerning the Company
that are subject to risks and uncertainties. Generally, the words 'will',
'may', 'should', 'continue', 'believes', 'targets', 'plans', 'expects',
'aims', 'intends', 'anticipates' or similar expressions or negatives thereof
identify forward-looking statements. These forward-looking statements involve
risks and uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements. Many of these risks
and uncertainties relate to factors that are beyond the Company's ability to
control or estimate precisely. The Company cannot give any assurance that such
forward-looking statements will prove to have been correct. The reader is
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this announcement. The Company does not
undertake any obligation to update or revise publicly any of the
forward-looking statements set out herein, whether as a result of new
information, future events or otherwise, except to the extent legally
required.

 

Nothing contained herein shall be deemed to be a forecast, projection or
estimate of the future financial performance of the Company.

 

 

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