RE: Fundraise re Balcombe18 Apr 2018 17:41
So the question is
Are Angus no longer going to be the operator and only hold a 25% stake...... or did they not think it necessary to inform the market that they had received OGA approval to become the operator ?............... or it's just another misleading RNS?.............
From today.
Angus Energy confirms that it has received approval from the Oil and Gas Authority ("OGA") for the acquisition of a 25.0% interest in licence PEDL244
Angus Energy confirms that it has received approval from the Oil and Gas Authority ("OGA") for the acquisition of a 25.0% interest in licence PEDL244 and therefore is currently in discussions with investors concerning a potential fundraising to fund the �2million payment that, as previously notified, is now due. It expects to conclude this shortly and a further announcement will be made in due course as and when appropriate.
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Previous RNS
Per terms of the deal, as stated in the Company RNS 22 January, the joint venture partners will now seek consent from the Oil & Gas Authority for the assignment of interest in license PEDL 244 and change of Operatorship for the Balcombe Field Discovery.