REG - Angus Energy PLC - Operations and Finance Update

Angus EnergyAnnouncement

19/02/2026 07:00

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RNS Number : 5556T  Angus Energy PLC  19 February 2026

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19 February 2026

Angus Energy PLC

 

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

(AIM:ANGS)

 

Operations and Finance Update

 

·    Substantial increase in Saltfleetby production following completion
of coil tubing operations.

·    Average daily production of approximately 6.3 mmscfd, over the last
week, representing a circa 30% increase on Q4 2025 average daily production.

 

Production and Operations Update

 

Successful Completion of Well Workovers at Saltfleetby

Coil tubing operations at Saltfleetby-B7 and B2 have been successfully
completed. The programme included perforation of a sections of the tubing, and
cleaning and stimulation of the wells using an acid and mutual solvent
treatment.

 

The wells are currently in the flowback phase, with gas, condensate and water
returning to the production facility as expected. Operations were completed
safely and without HSE incident, and all third-party contractors and equipment
have now been demobilised.

 

Initial results are encouraging. Average total field production has been
approximately 6.3 mmscfd, over the last week, representing an increase of
circa 30% compared to the average daily production achieved during Q4 2025. As
previously indicated, the wells require a period of clean-up following the
workover and well performance will continue to be monitored over the coming
months, but the Company is delighted with the initial results.

 

Balcombe

Following extended delays associated with the planning process at Balcombe,
the Company intends to resubmit its planning application in due course and
will provide further updates as appropriate

 

Finance Update

Further to previous announcements (most recently 22 January 2026), 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 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.

 

Carlos Fernandes, Finance Director comments: "We are pleased with the initial
results from the Saltfleetby workover programme. The operations were completed
safely and efficiently, and the early production response is encouraging. We
now look forward to the wells stabilising so that we can fully assess the
benefits of the work undertaken.

 

"We are also encouraged by progress being made in our discussions with
creditors on the 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
Energy 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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