REG - Angus Energy PLC - Fourth Quarter 2025 Company Update

Angus EnergyAnnouncement

22/01/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260122:nRSV8600Pa&default-theme=true

RNS Number : 8600P  Angus Energy PLC  22 January 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.

 22 January 2026

Angus Energy PLC

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

(AIM:ANGS)

 

Fourth Quarter 2025 Production, Operations, Corporate and Finance Update

 

·    Substantial increase in Saltfleetby production through improved
operational performance contributed to higher revenue levels.

·    Hedging profit of £539,000

·    Increased production at Brockham

·    Production from the Saltfleetby Field in the Fourth Quarter of 2025
was 446 million standard cubic feet of natural gas and 7,739 barrels of gas
condensate.

·    Gas sales of 4.98 million therms were achieved in the Quarter from
the Saltfleetby Field.

·    Estimated revenues of £4.12m for the Quarter.

·    Production uplift driven by improved well performance, enhanced well
management, and optimisation of Booster Compressor operations at lower
wellhead pressures.

·    Initiation of Saltfleetby well workovers, supporting the Company's
strategy to enhance production and operational performance.

 

Production and Operations Update

 

Saltfleetby

Gas sales from the Saltfleetby Field were 4.98 million therms in aggregate
during October, November and December 2025, compared to 4.16 million therms
sold in the third quarter of 2025, an increase of circa 19%. Fourth quarter
2025 production equates to an average of 1.66 million therms per month (up
from 1.39 million therms per month in the third quarter of 2025). Gas
condensate (liquid) production averaged 84bbl/day, up circa 20.9% against an
average of 69.5 bbl/day in the third quarter 2025. Saltfleetby operational
efficiency was 94% for the Quarter, up from 87% in the third quarter 2025.

 

Higher production at Saltfleetby during the Quarter reflects increased
equipment uptime, improved well performance, enhanced well management, and
optimisation of Booster Compressor operations at lower wellhead pressures.

 

Focus during the quarter was given to preparation for the well workovers on
two of the three producing wells with detailed reviews of site readiness and
workover procedures to minimise the production impact of the well
interventions whilst ensuring the workovers deliver improvements in well
performance.

 

Successful Phase 1 of Saltfleetby Well Workovers

Coil tubing operations have been successfully completed on Saltfleetby-B2
where the Company cleaned and stimulated the well with an acid and mutual
solvent treatment. We are now in a flowback phase of the operation with gas,
condensate and water flowing back to the production facility. Initial results
are positive; however, as referenced in the initial RNS, the well requires
time for production to stabilise post-workover before the full quantum of
production uplift can be assessed. The workover spread has been mobilised to
Saltfleetby-B7, with Phase 2 of the workover operations having commenced on 15
January 2026. As previously advised, the Company expects to be in a position
to assess the results of the workovers in March following the post workover
clean up phase.

 

Brockham

Oil volumes produced from the Brockham Field equalled 4,577 barrels in
aggregate for the months of October, November and December 2025, with an
average of 50 bbl/day. This is an increase of circa 26.0% compared to 3,632
barrels for the third quarter of 2025 averaging 39 bbl/day. Brockham
operational efficiency was 99% for the Quarter, down from 100% in the third
quarter. Improvements in production rates have been made through operational
optimisation and a reducing water cut.

 

Finance Update

Estimated revenues during the quarter were £4.12m (Quarter 3: £3.21m), a
circa 28% increase on the third quarter due principally to higher production
volumes.

 

As previously advised, low priced legacy hedging volumes rolled off in June
2025. Hedged volume for the quarter was 3.22 million therms at an average
price of £0.91 per therm, resulting in a hedging profit of £0.539m during
the quarter.

 

Further to previous announcements (most recently 20 November 2025), Angus
Energy confirms that positive discussions with its creditors regarding
restructuring of its debt remain ongoing. While the Board is encouraged in
respect of the continued progress in these discussions, the Company cautions
that if a suitable agreement is not reached, it would create a material
uncertainty around the Company's ability to continue to operate as a going
concern. The Company will inform the market once an agreement has been reached
and the terms of such agreement, and in the meantime continues to carefully
manage its working capital position in conjunction with its lenders.

 

The Company's shares are expected to remain suspended from trading on AIM
pending the conclusion of its financial restructuring.

 

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.

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDBBMLTMTTTBBF



            Copyright 2019 Regulatory News Service, all rights reserved