Last checked at 11 May 2017 07:00
11 May 2017
Angus Energy plc
("Angus Energy")
Alba Mineral Resources completes acquisition of 5% interest in Brockham Licence
Angus Energy plc. (the "Group") notes the announcement released by Alba Mineral Resources plc ("Alba") this morning:
'The Company is pleased to announce that, pursuant to the terms of the Farm-Out Agreement between Alba and Angus Energy Weald Basin No 3 Limited ("Angus"), and following receipt of the consent of the Oil and Gas Authority ("OGA"), the Brockham partners have now completed the assignment from Angus to Alba of a 5 per cent participating interest in Production Licence (PL) 235 comprising the Brockham Oil Field. Alba is now therefore a licensee under PL 235.'
Accordingly this formalises the 5% interest of Alba in PL235 that Angus Energy was holding in a trust arrangement as referred to in the Angus Energy AIM Admission document.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
END.
Enquiries:
Angus Energy Plc | |
Jonathan Tidswell-Pretorius / Paul Vonk | Tel: +44 (0) 208 899 6380 |
Beaumont Cornish (NOMAD) | |
James Biddle/ Roland Cornish | Tel: +44 (0) 207 628 3396 |
www.beaumontcornish.com | |
Optiva Securities Limited (BROKER) | |
Jeremy King/ Ed McDermott | Tel: +44 (0) 203 137 1902 |
Abchurch | |
Tim Thompson | Tel: +44 (0) 20 7398 7700 |
About Angus Energy plc.
Angus Energy plc. is an AIM quoted independent onshore oil and gas development company focused on leveraging its expertise to advance its portfolio of UK assets as well as acquire, manage and monetise select projects. Angus Energy owns the majority interest and operates conventional oil production fields in Brockham (PL 235) and Lidsey (PL 241).
Full details on the PL 235 and PL 241 licences are set out in the Company's AIM Admission document dated 12 November 2016.