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Angus Energy Loss Widens In 2018 Despite Maiden Oil Production

Wed, 06th Mar 2019 12:00

LONDON (Alliance News) - Angus Energy PLC on Wednesday reported maiden production from its oil fields in Surrey, southern England, but its loss widened in 2018.

The oil & gas company said its loss widened to GBP2.8 million from GBP2.6 million reported a year earlier, despite generating a maiden revenue of GBP66,000 on production of 1,678 barrels of oil.

The first production occurred after bringing on stream the Lidsey and Brockham oil fields, located in the Weald Basin in Surrey.

Looking forward, Angus Energy said it will continue to work towards commercial production from the Weald Basin and is continuously evaluating new opportunities.

Additionally, the company said it is beginning a detailed study into the potential exploration lead to the west of existing Lidsey producing structure.

Angus Energy shares were trading 3.4% lower on Wednesday at 3.96 pence each.

More News

30 May 2023 16:29

Angus Energy reaches steady operations at Saltfleetby

(Sharecast News) - Angus Energy announced on Tuesday that production at the Saltfleetby Field had achieved a steady operating state.

30 May 2023 14:17

IN BRIEF: Angus Energy eyes strong pricing in winter for Saltfleetby

Angus Energy PLC - UK-based independent onshore oil and gas development company - Says production at Saltfleetby fields reaches steady operating state from B2, A4 and B7T wells. Is now exporting gas to National Grid PLC at an average daily rate of 9.5 million standard cubic feet per day, reaching peak flows of over 10mmscf. Anticipates exceeding a combined average daily rate of 10mmscf. Says winter 2023-2024 pricing is strong, forecasted at GBP1.24 per therm, expects to generate GBP2.5 million in monthly average revenue from Saltfleetby operations.

15 May 2023 17:13

TRADING UPDATES: Eden Research gets regulatory approval in New Zealand

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

19 Apr 2023 16:25

Angus Energy confirms George Lucan as executive chair

(Alliance News) - Angus Energy PLC said on Wednesday morning that it had appointed George Lucan as chair, confirming a previous announcement made last month.

18 Apr 2023 19:59

TRADING UPDATES: Terance Butler sells shares in Ocean Harvest

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

18 Apr 2023 17:19

TRADING UPDATES: Angus hails initial clean up of well; Amati NAV falls

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

3 Apr 2023 11:11

Angus Energy shares rise on progress at Saltfleetby following clean-up

(Alliance News) - Angus Energy PLC on Monday said that clean-up operations at Saltfleetby were finished early on the weekend, following which the testing programme at its sidetrack well has progressed "satisfactorily".

28 Mar 2023 18:36

Angus Energy hails shareholder support on new bridge facility

(Alliance News) - Angus Energy PLC on Tuesday said that in line with the well completed, coiled tubing operations are taking place this week at Saltfleetby.

8 Mar 2023 16:35

IN BRIEF: Angus Energy commissions second compressor at Saltfleetby

Angus Energy PLC - AIM-quoted independent onshore energy transition company - Announces the second compressor is now fully commissioned and processing gas for export at its Saltfleetby gas field. Says well completion continues on the sidetrack well SF7V with clean-up work awaiting coiled tubing due late March. Sees the intervening time window as offering a useful opportunity to perform regular maintenance on the first compressor.

8 Mar 2023 11:59

Angus Energy commissions second compressor at Saltfleetby

(Sharecast News) - Angus Energy updated the market on drilling and operations at Saltfleetby on Wednesday, announcing that the second compressor was now fully commissioned and processing gas for export.

2 Mar 2023 19:57

TRADING UPDATES: Downing Renewables acquires two hydropower plants

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

14 Feb 2023 11:23

Angus Energy gets green light for well test at Balcombe oil site

(Alliance News) - Angus Energy PLC on Tuesday said its appeal against the decision by West Sussex County Council to refuse permission for an extended well test at its Balcombe oil site has been upheld.

10 Feb 2023 15:07

IN BRIEF: Angus Energy says second compressor on track at Saltfleetby

Angus Energy PLC - London-based energy transition company with a portfolio of clean gas development assets, onshore geothermal projects, and legacy oil producing fields - Second compressor at Saltfleetby remains on track for full wet commissioning from February 15. The drilling programme is likely to be extended by two more weeks, due to the need to select "a more advantageous kick-off position" for the sidetrack. Says this would only involve a further 100 metres of drilling, but extra time has been allowed for the associated milling and other operations.

24 Jan 2023 20:47

TRADING UPDATES: M&C Saatchi sees revenue rise; Angus extends drilling

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

23 Jan 2023 22:00

TRADING UPDATES: CyanConnode to raise funds; Pure Gold cancels listing

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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Angus Energy Loss Widens In 2018 Despite Maiden Oil Production

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