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23 Oct 2017 07:00
23 October 2017
Angus Energy Plc
("Angus Energy" or the "Company")
Angus Energy Receives OGA Approval
Angus Energy, a conventional oil and gas development company, is pleased to announce subsequent to its RNS of 22 September 2017, the Company has received final approval from the Oil and Gas Authority ("OGA") for its Field Development Plan Addendum at the Brockham Oil Field (Production License PL235).
As stated in the Company RNS of 11 May 2017, this OGA approval is the final regulatory consent needed for the Company to begin production from the Kimmeridge layers in well BR-X4Z ("X4Z").
The X4Z Well will inititially produce from a 200 meter ("m") naturally fractured section of a 385m thick, Kimmeridge interbedded shale and limestone layer. Further technical guidance can be found in the Company's RNS of 3 March 2017.
Prior to initiating production, Angus Energy will install a connection to the National Grid for the distribution of excess power generated on-site as outlined in the Company RNS of 22 September 2017.
Upon completion of this installation, production from X4Z will commence. Angus Energy will update the market in due course.
The Company reiterates there will be no hydraulic fracturing or "fracking" at the Brockham Oil Field.
Angus Energy's previous guidance on the Brockham Field remains unchanged.
Further information can be found at www.angusenergy.co.uk.
-END-
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 and operates conventional oil production fields in Brockham (PL 235) and Lidsey (PL 241) and has a 12.5% interest in the Holmwood licence (PEDL143).
Interest in Brockham Oil Field (PL 235):
Angus Energy has a current 55% interest in PL235 with an agreement, as announced on 16 December 2016, to increase this to 65% following regulatory approval.
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 |
Yellow Jersey | |
Tim Thompson | Tel: +44 (0) 203 735 8825 |
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