In London South East's first interview with the new management team at Angus Energy #ANGS, the new Managing Director George Lucan surprised us with news that talks about the purchase of a mothballed gas asset for a nominal fee of one pound sterling are at an advanced stage.
It is being been disposed of by an O&G Major, although George wouldn't reveal who. The deal comes with 2 Million pounds worth of 'long term abandonment costs'. He believes it represents 'amazing' value and is a 'transformational deal'.
In an extensive in-depth interview, George addresses his management style, the falling out with the previous management team and lays out his strategic plans for the future. He also analyses the water issues at Brockham, which he believes have been resolved, and outlines plans for flow-test drilling there.
This is a must watch interview if you are an Angus Energy shareholder.