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Angus Energy Regulatory News (ANGS)



Regulatory News for Angus Energy (ANGS)


Share Price: 3.70Bid: 3.60Ask: 3.80Change: 0.00 (0.00%)No Movement on Angus Energy
Spread: 0.20Spread as %: 5.56%Open: 3.30High: 3.75Low: 3.20Yesterday’s Close: 3.70





Update on PEDL 143 (Holmwood)

Thu, 14th Mar 2019 07:00

RNS Number : 7984S
Angus Energy PLC
14 March 2019

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) ("MAR"). THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

14 March 2019

Angus Energy Plc

("Angus Energy" or the "Company")

Update on PEDL 143 (Holmwood)

The Board of Angus Energy is pleased to note the following announcement released by Europa Oil & Gas in respect of PEDL 143 Licence.

Europa Oil & Gas (Holdings) plc ('Europa' or 'the Company')

Transfer of Operatorship of PEDL 143 Licence, UK Onshore

Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, is pleased to announce that it is in the process of transferring its operatorship of UK onshore licence PEDL 143 ('the Licence') to UK Oil & Gas plc ('UKOG'). Europa will continue to hold a 20% interest in the Licence, which is located in the Weald Basin, Surrey, alongside UKOG (40%), Egdon Resources plc (18.4%), Angus Energy plc (12.5%), Union Jack Oil plc (7.5%) and Altwood Petroleum (1.6%).

The decision to transfer operatorship of PEDL 143 is based on Europa's focus on its high impact portfolio of exploration licences in Atlantic Ireland, its existing producing assets onshore UK, and the Company's pursuit of new ventures in its chosen areas of focus, specifically the Atlantic seaboard, North Africa and NW Europe.

With its operational activities centred on the Weald Basin, the Company believes UKOG's direct experience with, and technical knowledge of the Portland and Kimmeridge plays at the nearby Horse Hill discovery, will help inform a forward plan for the Licence.

The transfer of PEDL143 operatorship to UKOG is subject to Oil and Gas Authority consent.

Further Information

PEDL143 is located in the Weald Basin, Surrey and contains the conventional Holmwood prospect which has estimated gross mean prospective resources of 5.6 million boe.

In September 2015, planning permission was granted to drill a temporary exploratory borehole from the Bury Hill Wood site to a depth of 1,400m. In July 2018, the Environment Agency granted a permit to allow the drilling and testing of a single well for the purposes of oil and gas exploration, while the initial term of PEDL143 was extended by the Oil and Gas Authority to 30 September 2020.

In September 2018, the Secretary of State for the Environment, Food and Rural Affairs, refused an application to extend the site lease. Acting on behalf of the partnership, Europa withdrew its application to extend planning permission to drill the Holmwood exploration well from the Bury Hill Wood site, which has since been re-instated. The joint venture group continues to investigate opportunities to drill elsewhere within the licence to test the significant Portland and Kimmeridge prospect underlying the centre of the block, which is a look-a-like structure to the nearby Horse Hill field.

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

* * ENDS * *

END.

Enquiries:

Angus Energy Plc

www.angusenergy.co.uk

George Lucan

Tel: +44 (0) 208 899 6380





Beaumont Cornish (Nomad)

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





Yellow Jersey

angus@yellowjerseypr.com

Tim Thompson

Tel: +44 (0) 203 004 9512

Henry Wilkinson



Notes

About Angus Energy plc. Angus Energy plc. is a UK AIM quoted independent onshore oil and gas production and development company focused on leveraging its expertise to advance its portfolio of UK assets as well as acquire, manage and monetise select projects. Angus Energy 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) and a 12.5% interest in the Holmwood licence (PEDL143).


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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Related Shares:
(ANGS)




DateSourceHeadlineCategory
03-Jun-19 14:05RNSSecond Price Monitoring ExtnCompany Announcement - General
03-Jun-19 14:00RNSPrice Monitoring ExtensionCompany Announcement - General
03-Jun-19 07:00RNSBrockham Operations UpdateCompany Announcement - General
29-May-19 07:00RNSResults of Open OfferCompany Announcement - General
10-May-19 09:30RNSBrockham Operations UpdateCompany Announcement - General
10-May-19 07:00RNSOpen Offer Circular publishedCompany Announcement - General
03-May-19 07:00RNSBrockham Operations UpdateCompany Announcement - General
30-Apr-19 09:26RNSResult of PlacingResults and Trading Reports
30-Apr-19 07:00RNSProposed Placing and Open OfferCompany Announcement - General
25-Apr-19 18:30RNSBrockham Operations UpdateCompany Announcement - General
18-Apr-19 07:00RNSCompletion of Acquisition of Lidsey interestMergers, Acquisitions and Disposals
10-Apr-19 10:00RNSOperations Update: BrockhamCompany Announcement - General
05-Apr-19 16:45RNSOperations Update: BrockhamCompany Announcement - General
03-Apr-19 07:00RNSOperations Update & Schedule of Works at BrockhamCompany Announcement - General
02-Apr-19 16:49RNSTotal Voting RightsHolding(s) in Company
29-Mar-19 11:53RNSResult of AGMResults and Trading Reports
21-Mar-19 12:00RNSOperations Update: Rig Contract for BrockhamCompany Announcement - General
18-Mar-19 16:41RNSSecond Price Monitoring ExtnCompany Announcement - General
18-Mar-19 16:36RNSPrice Monitoring ExtensionCompany Announcement - General
14-Mar-19 07:00RNSSPA signed regarding additional interest in LidseyCompany Announcement - General
14-Mar-19 07:00RNSUpdate on PEDL 143 (Holmwood)Company Announcement - General
07-Mar-19 07:00RNSNotice of AGMResults and Trading Reports
06-Mar-19 15:15RNSBoard ChangesExecutive Changes
06-Mar-19 07:00RNSAnnual Financial ReportResults and Trading Reports
26-Feb-19 16:45RNSOperations and Lidsey Field Interest UpdateCompany Announcement - General
19-Feb-19 10:27RNSVariation to Planning Consent at LidseyCompany Announcement - General
15-Feb-19 07:00RNSEquity PlacingCompany Announcement - General
14-Feb-19 07:00RNSUpdate to Financing ArrangementCompany Announcement - General
08-Feb-19 17:27RNSBalcombe Update and Holdings in CompanyCompany Announcement - General
08-Feb-19 16:41RNSSecond Price Monitoring ExtnCompany Announcement - General


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