REG - Angus Energy PLC - Corporate Update

Angus EnergyAnnouncement

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RNS Number : 0222B  Angus Energy PLC  20 April 2026

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO
CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION
(EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN
UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS
ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS
CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 20 April 2026

Angus Energy PLC

 ("Angus Energy", the "Company" or together with its subsidiaries, the
"Group")

(AIM:ANGS)

 

First Quarter 2026 Production, Operations, Corporate and Finance Update

 

·    c.30% increase in production rates at Saltfleetby following
completion of the workovers.

·    Production from the Saltfleetby Field in the First Quarter of 2026
was 471 million standard cubic feet of natural gas and 10,180 barrels of gas
condensate.

·    Gas sales of 5.24 million therms were achieved in the Quarter from
the Saltfleetby Field.

·    Estimated revenues of £5.65m for the Quarter.

·    Production uplift driven by successful completion of Saltfleetby
workovers.

 

Production and Operations Update

 

Saltfleetby

Gas sales from the Saltfleetby Field totalled 5.24 million therms during
January, February and March 2026, compared to 4.98 million therms in the
fourth quarter of 2025, representing an increase of approximately 5%. This
modest increase was driven by the successful completion of the Saltfleetby
well workover programme but moderated by the impact of planned well shut-ins
during January and February to facilitate the workover operations and
therefore does not fully capture the circa 30% uplift in underlying production
rates achieved post-completion.

 

Average monthly gas sales for the quarter were 1.75 million therms, up from
1.66 million therms in Q4 2025. Gas condensate production averaged 111 barrels
per day, an increase of approximately 32% compared to 84 barrels per day in
the previous quarter. Operational efficiency remained robust at 87%
notwithstanding the impact of workover interventions on two of the three
producing wells over the period (Q4 2025: 94%).

 

Successful Saltfleetby Well Workovers

Coiled tubing operations were successfully completed on wells Saltfleetby-B2
and Saltfleetby-B7, including cleaning and stimulation using acid and mutual
solvent treatments. The site returned to full production with all 3 well
producing on 10 February 2026, with full site, post-workover rates indicating
an increase of approximately 30% compared to pre-workover levels.

 

Brockham

Total oil production from the Brockham Field for the quarter was 4,114
barrels, equating to an average production rate of 46 barrels per day, broadly
in line with the previous quarter (Q4 2025: 4,577 barrels; 50 barrels per
day). Operational efficiency was 100% (Q4 2025: 100%).

 

Ongoing optimisation initiatives have supported stable production, alongside a
continued reduction in water cut. The Company is now progressing preparations
to restart production from the BRX4z well targeting the Portland reservoir.

 

Finance Update

Estimated revenues for the quarter were £5.24 million (Q4 2025: £4.12
million), representing an increase of approximately 28%, driven primarily by
higher realised gas prices, increased production volumes and improved hedging
position.

 

Further to previous announcements (most recently on 19 March 2026), the
Company continues to make good progress on the legally binding documentation
associated with its proposed financial restructuring. The Company is targeting
completion and execution of the definitive agreements in the coming weeks.

 

Upon execution, the proposed restructuring is expected to materially
strengthen the Group's balance sheet, enhance liquidity, and establish a more
sustainable long-term capital structure.

 

In the meantime, the Board continues to prudently manage working capital in
close coordination with its lenders.

 

Suspension of Trading on AIM

Trading in the Company's shares on AIM will remain suspended pending the
conclusion of its financial restructuring.

 

The Board remains focused on strengthening the Company's long-term position
and will provide further updates as the restructuring progresses.

 

END

For further information please visit www.angusenergy.co.uk
(http://www.angusenergy.co.uk) .

Angus Energy Plc
 

 

Carlos Fernandes

Finance Director
               Via Flagstaff

 

SP Angel Corporate Finance LLP (Nomad and Broker)     www.spangel.co.uk
(http://www.spangel.co.uk/)

 

Stuart Gledhill / Jen Clarke / Richard Hail Tel: +44 (0)20 3470 0470

 

Flagstaff  PR/IR
                             angus@flagstaffcomms.com
(mailto:angus@flagstaffcomms.com)

 

Tim Thompson / Fergus Mellon / Alison Alfrey   Tel: +44 (0) 207 129 1474

 

About Angus Energy plc

 

Angus Energy plc is a UK AIM quoted independent oil and gas company. Angus is
the leading onshore gas producer in the UK and has ambitious plans to grow
onshore production and diversify internationally. 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.

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