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Pin to quick picksAngus Energy Share News (ANGS)

Share Price Information for Angus Energy (ANGS)

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Share Price: 0.475
Bid: 0.45
Ask: 0.50
Change: 0.025 (5.56%)
Spread: 0.05 (11.111%)
Open: 0.475
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Angus Energy on track for commissioning of Saltfleetby

Wed, 27th Apr 2022 11:00

(Sharecast News) - Angus Energy updated the market on installation and commissioning progress at Saltfleetby on Wednesday, with delivery and installation dates "substantially unchanged".

The AIM-traded firm said the bulk of the last skids would be arriving shortly after the bank holiday weekend, although it was possible that the Joule Thomson skid could be delayed to the following week as a result of a potential delay in the delivery of an accessory.

All earlier packages were now being tied in, the company said.

Looking at the schedule, Angus said the electrical room, separator vessel and passive dehydration were complete, while the first compression was targeted for delivery on 27 April.

The gas engine generator was set to be delivered on 29 April, with the export folders and diverters due on 3 May and the condensate stabilisation skid on 3 May.

It said the Joule Thomson skid would be delivered between 5 May and 10 May.

"The work of dry commissioning has begun with the identification of key lines for initial hydrotesting and the development of a programme for some 40 tests," the Angus board said in its statement.

"All welds are visible, so testing is of a relatively short duration.

"Welding and electrical tie-in of these skids to the ring main of pipework and cabling around the site are the immediate objectives."

Cable pull was expected over the next five working days, and the ring main of pipework was 80% complete, the board confirmed.

"We have some nine squads of welders, riggers and fitters supported by platers and a number of electrical specialists supporting tie-in.

"The first stages of dry commissioning are in progress with determination of the selection of hydrotesting of key site pipework.

"This will be augmented with electrical and control tests throughout the first two weeks of May."

Wet commissioning was expected to begin on or around 18 May, with the company being assisted by an "experienced team" led by OSL and Inspec.

"We continue to aim for a short wet commissioning programme and a target date of first gas of 1 June.

"This would allow for one full month of production at current high spot prices before the company's obligations to deliver volumes at the hedge price commence at the end of June."

At 1223 BST, shares in Angus Energy were up 5.77% at 1.38p.

More News
22 Jul 2022 14:20

IN BRIEF: Angus Energy says progress continues at Saltfleetby field

Angus Energy PLC - oil and gas development company focused on UK assets - Says wellhead gas has been introduced into the first section of the facility at the wholly-owned Saltfleetby Gas Field in Lincolnshire, England. Adds that wellhead pressures remain high at 80+ bar. Angus says final commissioning of the compressor, electrical and instrument testing is due over the weekend and early next week, and first sales are planned for next week.

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22 Jul 2022 13:49

Angus Energy nears first sales at Saltfleetby

(Sharecast News) - Angus Energy updated the market on progress at its wholly-owned Saltfleetby project on Friday, reporting that wellhead gas has been introduced into the system, with wellhead pressure remaining high at 80+ bar.

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12 Jul 2022 14:42

IN BRIEF: Angus Energy raises GBP1 million; progresses at Saltfleetby

Angus Energy PLC - oil and gas development company focused on UK assets - Says it is making good progress with the testing and inspection of facilities at the wholly-owned Saltfleetby Gas Field in Lincolnshire, England. Adds that first production is expected during the third quarter of 2022 and is anticipated to "comfortably exceed" the hedge amount advised previously as 3.4 million therms for July to September.

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5 Jul 2022 14:40

IN BRIEF: Angus Energy's export line at Saltfleetby free of nitrogen

Angus Energy PLC - London-based oil & gas development company focused on UK assets - Confirms that a 5 mile export line to Theddlethorpe's National Grid Entry point is now free of nitrogen "and pressured up to 60 barg with grid specification gas."

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4 Jul 2022 13:35

IN BRIEF: Angus Energy raises GBP3 million via direct subscription

Angus Energy PLC - London-based oil & gas development company focused on UK assets - Raises GBP2 million via a subscription of 182.0 million shares, at 1.10 pence each, to a group of family offices and private investors led by Aleph International Holdings (UK) Ltd.

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30 Jun 2022 13:53

EARNINGS UPDATES: Kingswood revenue surges; Shield in loan deal

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28 Jun 2022 14:34

IN BRIEF: Angus Energy shares up as Saltfleetby gas field commissioned

Angus Energy PLC - London-based oil and gas development company focused on UK assets - Concludes leak testing and starts to commission the Saltfleetby Gas Field in East Lincolnshire in the East Midlands. Expects the first gas sales between July 7 and July 12. "The hedged volume for July to September inclusive is for 3.4 million therms," it explains.

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10 Jun 2022 13:33

IN BRIEF: Angus Energy to start side-track at Saltfleetby in July

Angus Energy PLC - oil and gas development company focused on UK assets - Says it has concluded all preparatory risk assessment and planning for the upcoming side-track at Saltfleetby. It says contractors are working toward a target date for first flow of well-head gas through the plant during the week commencing June 20. The company says all the necessary equipment to export gas sales are on site. Commissioning specialists will continue with hydrotesting, nitrogen leak testing, final verification and function testing of all pressure equipment and finally live gas testing with well-head gas.

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10 Jun 2022 12:20

Angus Energy reports good progress at Saltfleetby

(Sharecast News) - Angus Energy updated the marker on commissioning progress at Saltfleetby on Friday, reporting that with all necessary equipment to export sales gas now on site, the process had been handed over to commissioning specialists.

Read more
6 Jun 2022 15:58

UK shareholder meetings calendar - next 7 days

Tuesday 7 June  
Animalcare Group PLCAGM
Arix Bioscience PLCAGM
Centrica PLCAGM
Integrated Diagnostics Holdings PLCAGM
Kooth PLCAGM
Ondine Biomedical IncAGM
Osirium Technologies PLCAGM
SpaceandPeople PLCAGM
TruFin PLCAGM
Wednesday 8 June  
Ascent Resources PLCAGM
Cambridge Cognition Holdings PLCAGM
City Pub Group PLCAGM
DP Eurasia NVAGM
Gem Diamonds LtdAGM
Hiro Metaverse Acquisitions I SAAGM
Itaconix PLCAGM
M&G Credit Income Investment Trust PLCAGM
Nostrum Oil & Gas PLCAGM
Parity Group PLCAGM
Petards Group PLCAGM
Safestyle UK PLCAGM
Savannah Resources PLCAGM
Third Point Investors LtdAGM
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Northbridge Industrial Services PLCGM re name change to Crestchic
Funding Circle Holdings PLCAGM
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Dignity PLCAGM
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Invesco Perpetual UK Smaller Companies Investment Trust PLCAGM
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MP Evans Group PLCAGM
THG PLCAGM
Ergomed PLCAGM
Ultra Electronics Holdings PLCAGM
XLMedia PLCAGM
Monday 13 June 
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Elixirr International PLCAGM
Ocean Outdoor LtdGM re takeover by Atairos Group Inc
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Mirriad Advertising PLCAGM
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Spectra Systems CorpAGM
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24 May 2022 14:43

IN BRIEF: Angus Energy to acquire joint venture partner Saltfleetby

Angus Energy PLC - UK-focused oil and gas development company - Signs a share purchase agreement to buy its current joint venture partner Saltfleetby Energy Ltd for up to GBP14.1 million. Saltfleetby currently owns a 49% working interest in the Saltfleetby project. Following the acquisition, the company would own a 100% working interest in and would continue to be operator of the Saltfleetby Licence. To support the acquisition, Angus has secured a conditional issue of 546,000,000 new shares to raise GBP6.0 million, by way of a direct subscription, with Aleph International Holdings UK Ltd.

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23 May 2022 19:29

TRADING UPDATES: Big Yellow's annual profit surges on occupancy gains

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27 Apr 2022 16:41

IN BRIEF: Angus Energy wins UK county council approval for well plans

Angus Energy PLC - oil and gas development company focused on UK assets - Says the Planning Committee of Surrey County Council has passed a resolution to approve its plans to abandon the Kimmeridge layer and re-perforate the Portland layer at well BRX4-Z.

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