REG - Angus Energy PLC - Saltfleetby Field Update

Angus EnergyAnnouncement

06/11/2023 13:15

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RNS Number : 5251S  Angus Energy PLC  06 November 2023

6 November 2023

 

Angus Energy Plc

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

(AIM:ANGS)

 

 

Commissioning of Saltfleetby BO7T Well Permanent Flowline

 

Angus Energy (AIM: ANGS) is pleased to announce that the permanent flowline
from the BO7T well at the Saltfleetby gas field in Lincolnshire was
successfully commissioned on Friday 3(rd) November at 16.30 with minimum
production loss. This has been a challenging project not least because of the
weather conditions during construction but also because of the technical
challenges in finalising the flowline design.

 

Operations Director Tim Kaye commented "This is another key Company milestone
delivered safely and with no harm to the environment and we can all take pride
in another site goal achieved with the material benefit of reducing costs at
site and further improving the long-term sustainability of the Saltfleetby
Field".

CEO Richard Herbert added "Since the BO7T well came on stream in May, it has
been operating in a temporary separator and flowline configuration, which has
added complexity and costs to the operations at the field. The period of well
clean up was much longer than we had expected, due to incomplete acidization
of the mud additives used to control the wellbore during the drilling of the
reservoir section. Now that fines production has reduced and with the
completion of the engineering works to install the permanent flowline, we are
seeing stable well performance and will have a significant reduction in
operating costs with the removal of expensive rented equipment and personnel
required for the temporary flowline. I am very grateful to the operations team
at Saltfleetby for their excellent work to complete this significant project
for the Company".

 

 

END

 

For further information on the Company, please visit www.angusenergy.co.uk
(http://www.angusenergy.co.uk) or contact:

Enquiries:

 

Angus Energy Plc
 
www.angusenergy.co.uk (http://www.angusenergy.co.uk)

 

Richard Herbert
 
Tel: +44 (0) 208 899 6380

 

Beaumont Cornish Limited (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) 207 220 1666

 

Flagstaff PR/IR
 
angus@flagstaffcomms.com

 

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

 

Disclaimers - this Announcement includes statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "forecasts", "plans", "prepares", "anticipates",
"projects", "expects", "intends", "may", "will", "seeks", "should" or, in each
case, their negative or other variations or comparable terminology, or by
discussions of strategy, plans, objectives, goals, future events or
intentions. These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
Announcement and include statements regarding the Company's and the Directors'
intentions, beliefs or current expectations concerning, amongst other things,
the Company's prospects, growth and strategy. By their nature, forward-looking
statements involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance. The
Company's actual performance, achievements and financial condition may differ
materially from those expressed or implied by the forward-looking statements
in this Announcement. In addition, even if the Company's results of
operations, performance, achievements and financial condition are consistent
with the forward-looking statements in this Announcement, those results or
developments may not be indicative of results or developments in subsequent
periods. Any forward-looking statements that the Company makes in this
Announcement speak only as of the date of such statement and (other than in
accordance with their legal or regulatory obligations) neither the Company,
nor the Bookrunner nor Beaumont Cornish nor any of their respective
associates, directors, officers or advisers shall be obliged to update such
statements. Comparisons of results for current and any prior periods are not
intended to express any future trends or indications of future performance,
unless expressed as such, and should only be viewed as historical data.

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the Financial Conduct Authority, is acting as nominated adviser to
the Company in relation to the matters referred herein. Beaumont Cornish
Limited is acting exclusively for the Company and for no one else in relation
to the matters described in this announcement and is not advising any other
person and accordingly will not be responsible to anyone other than the
Company for providing the protections afforded to clients of Beaumont Cornish
Limited, or for providing advice in relation to the contents of this
announcement or any matter referred to in it.

 

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