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Angus Energy Applies For Extended Well Test At Balcombe Site

Thu, 13th Aug 2020 13:49

(Alliance News) - Angus Energy PLC on Thursday said it has applied to conduct an extended well test at its Balcombe site near Crawley, southern England.

The independent onshore oil and gas development company focused on the UK said it will not employ any hydraulic fracturing techniques.

Managing Director George Lucan said: "With our revised planning application, over which great care has been taken, we look forward to a fair hearing and positive result which will allow the company and its shareholders to exploit this valuable asset and make our own contribution to the government's net zero targets specifically by replacing imported hydrocarbons and their higher associated carbon footprint."

Angus Energy shares were up 4.2% at 1.22 pence per share on Thursday afternoon in London.

By Greg Roxburgh; gregroxburgh@alliancenews.com

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IN BRIEF: Angus Energy shares fall on small delay at Saltfleetby field

Angus Energy PLC - UK-focused onshore oil and gas producer - Says noise abatement and "other modifications" have caused some "small delay" in the arrival of the compressor skid at the Saltfleetby gas field in east Lincolnshire, England. Notes that this will not impact the overall timeline. Expects dry commissioning to begin on April 26 with select hydrotesting of key site pipework. Anticipates wet commissioning to begin at or around May 15 and expects it to last around two weeks. Continues to target first gas by June 1, allowing for one full month of unhedged production.

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IN BRIEF: Angus Energy gets approvals for new layout at Saltfleetby

Angus Energy PLC - UK-focused onshore oil and gas producer - Says it has been granted permission to reconfigure the layout of its 51%-owned Saltfleetby B site near the North Sea coast by Lincolnshire City Council. This is the last of permissions required from the local authority needed for the site to achieve first gas. Last week, Angus reported work at field was progressing, having secured heat exchangers which were previously the cause of delays.

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IN BRIEF: Angus Energy gives Sound more time to make formal offer

Angus Energy PLC - UK-focused onshore oil and gas producer - Grants Morocco-focused Sound Energy PLC another one-month extension to 'put-up-or-shut-up' deadline. Sound had been required to confirm its intention to make a takeover offer for Angus by Friday, but this has now been put back to April 8. Angus said discussions and mutual due diligence between the two companies continues. After Angus had launched a formal sales process, Sound back in January said it had made a tentative all-share offer worth 1.50 pence per Angus share, or GBP21.6 million for the whole company, its fourth bid for Angus.

10 Mar 2022 20:01

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Angus Energy Share News (ANGS)

Share Price Information for Angus Energy (ANGS)

Angus Energy Applies For Extended Well Test At Balcombe Site

TRADING UPDATES: Manolete caution; tinyBuild buys in Russia-Ukraine

IN BRIEF: Angus Energy shares fall on small delay at Saltfleetby field

Sound Energy decides against making offer to buy Angus Energy

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IN BRIEF: Angus Energy gets approvals for new layout at Saltfleetby

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