REG - Angus Energy PLC - Operations and Finance Update

Angus EnergyAnnouncement

07/05/2025 07:00

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RNS Number : 5784H  Angus Energy PLC  07 May 2025

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7 May 2025

Angus Energy PLC

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

 

Operations and Finance Update

 

After the successful commissioning of the booster compressor announced on 16
April 2025, Angus has been conducting well tests to determine the optimum
configuration of the plant and wells to increase production. These tests are
ongoing, and Angus will update on progress and plans in due course.

 

As announced on 22 February 2024, Angus Energy entered into a Financing
Facility with a subsidiary of Trafigura Group PTE Ltd ("Trafigura"). The terms
of the Facility are unchanged from those of the term sheet summarised by the
Company via RNS on 20 December 2023, being a 5-year loan, with a twelve-month
grace period on principal repayment and then approximately even amortisation
from March 2025. Production variability during the first quarter of 2025,
before the booster compressor was commissioned, has resulted in the first
principal repayment of £1.25 million, being deferred as part of ongoing
discussions with Trafigura about resculpting the repayment schedule.

 

Angus remains confident in the gas reserves and potential of the Saltfleetby
Field and is investigating options to increase production through workovers,
new drilling as well as potential acquisitions to strengthen the financial
position of the Company.

 

END

 

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

 

Angus Energy Plc

 

Richard Herbert

Chief Executive
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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