REG - Angus Energy PLC - Update on Commissioning at Saltfleetby

Angus EnergyAnnouncement

10/06/2022 07:00

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RNS Number : 4026O  Angus Energy PLC  10 June 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS
DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF
MAR.

 

10 June 2022

Angus Energy Plc

("Angus Energy", "Angus" or the "Company")

Update on Commissioning and Drilling Schedule at Saltfleetby

The Company updates on progress on its commissioning schedule at
Saltfleetby.  With all equipment necessary to export sales gas now on site,
the process has been handed over to commissioning specialists. Whilst the last
of the electrical and mechanical tie-ins are being completed early next week,
they will continue with hydrotesting (already largely complete,) nitrogen leak
testing, final verification and function testing of all pressure equipment and
finally live gas testing with well-head gas.  This exercise is not wholly
sequential as there is considerable overlap of function testing and leak
testing.

Contractors are working toward a target date for first flow of well-head gas
through the plant during the week commencing 20 June 2022 with first export
(i.e. sales) nominations the week following. Angus looks forward to providing
updates via Twitter, Linked-In and RNS Reach on detailed progress through the
remainder of the commissioning sequence

The Company is also pleased to announce that it has concluded all preparatory
risk assessment and planning for the forthcoming side-track at Saltfleetby and
has advised suppliers of a spud date for drilling of 21 July 2022.

 

END.

 

Enquiries:

 Angus Energy Plc              www.angusenergy.co.uk (http://www.angusenergy.co.uk/)
 George Lucan                  Tel: +44 (0) 208 899 6380

 Beaumont Cornish (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) 113 394 6600

 Flagstaff PR/IR               angus@flagstaffcomms.com (mailto:angus@flagstaffcomms.com)
 Tim Thompson                  Tel: +44 (0) 207 129 1474
 Fergus Mellon
 Aleph Commodities             info@alephcommodities.com

 

Notes

 

About Angus Energy plc

Angus Energy plc is a UK AIM quoted independent onshore Energy Transition
company with a complementary portfolio of clean gas development assets,
onshore geothermal projects, and legacy oil producing fields. Angus is focused
on becoming a leading onshore UK diversified clean energy and energy
infrastructure company.  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).

 

Important Notices

This announcement contains 'forward-looking statements' concerning the Company
that are subject to risks and uncertainties. Generally, the words 'will',
'may', 'should', 'continue', 'believes', 'targets', 'plans', 'expects',
'aims', 'intends', 'anticipates' or similar expressions or negatives thereof
identify forward-looking statements. These forward-looking statements involve
risks and uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements. Many of these risks
and uncertainties relate to factors that are beyond the Company's ability to
control or estimate precisely. The Company cannot give any assurance that such
forward-looking statements will prove to have been correct. The reader is
cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date of this announcement. The Company does not
undertake any obligation to update or revise publicly any of the
forward-looking statements set out herein, whether as a result of new
information, future events or otherwise, except to the extent legally
required.

Nothing contained herein shall be deemed to be a forecast, projection or
estimate of the future financial performance of the Company.

This announcement is not intended to, and does not, constitute or form part of
any offer, invitation or solicitation of any offer to purchase, otherwise
acquire, subscribe for, sell or otherwise dispose of any securities or the
solicitation of any vote or approval in any jurisdiction. Any offer (if made)
will be made solely by certain offer documentation which will contain the full
terms and conditions of any offer (if made), including details of how such
offer may be accepted. This announcement has been prepared in accordance with
English law and the Code, and information disclosed may not be the same as
that which would have been prepared in accordance with laws outside of the
United Kingdom. The release, distribution or publication of this announcement
in jurisdictions outside of the United Kingdom may be restricted by laws of
the relevant jurisdictions, and therefore persons into whose possession this
announcement comes should inform themselves about, and observe, any such
restrictions. Any failure to comply with the restrictions may constitute a
violation of the securities law of any such jurisdiction.

Beaumont Cornish Limited, which is authorised and regulated in the United
Kingdom by the FCA, is acting as Nominated Adviser and Financial Adviser to
Angus and for no one else in connection with any matter referred to in this
announcement and will not be responsible to anyone other than Angus for
providing the protections afforded to its clients nor for providing advice in
relation to any matters set out in this Announcement

 

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