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.
8 July
2024
Angus Energy
Plc
("Angus Energy", the
"Company" or together with its subsidiaries, the
"Group")
(AIM:ANGS)
Second Quarter 2024
Production and Operations Update
·
Production for the Quarter was 6.48
mm therms of natural gas and 10,478
bbls of condensate
·
Estimated revenues of £4.90m for the
Quarter
Gas volumes produced and sold from
the Saltfleetby Field equalled 6.48 mm therms in
aggregate for the months of April, May and June 2024 combined.
Second quarter production equates to an average of 2.16 mm therms
per month. Operational efficiency was 91% for the second quarter.
Gas condensate (liquid) production averaged 115 bbl/day.
The Quarter had no major planned maintenance
activities of production critical equipment with only minor
servicing of the two compressor engines carried out during the
Quarter. A well performance management strategy to address the
impact of liquids on production rates is being
developed.
At the Brockham Oil Field, production resumed
on the 4th of June. At the end of the Quarter, two road
tanker shipments had successfully completed with cumulative oil
production measured at 560 barrels.
END
For further information on the
Company, please visit www.angusenergy.co.uk
or contact:
Enquiries:
Angus Energy
Plc
www.angusenergy.co.uk
Richard
Herbert
Chief Executive
Director
Via Flagstaff
Beaumont Cornish Limited
(Nomad) www.beaumontcornish.com
James Biddle / Roland
Cornish
Tel: +44 (0) 207 628 3396
SP Angel
Corporate Finance LLP
(Broker)
www.spangel.co.uk
Stuart Gledhill / Caroline Rowe / Richard Hail
Tel: +44 (0)20 3470 0470
Flagstaff PR/IR
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 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 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). Angus Energy operates all fields in
which it has an interest.
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.
