Last checked at 13 Aug 2020 07:00
13 August 2020
Angus Energy Plc
("Angus Energy", "Angus" or the "Company")
Balcombe Update
Angus Energy plc (AIM : ANGS) is pleased to announce that, pursuant to Town and Country Planning regulations, the Company has posted notice of its Application for an Extended Well Test at the Balcombe site, and following the statutory seven day waiting period, the submission will be lodged with West Sussex County Council in Chichester no later than Thursday 20th August.
As previously the Company would like to make clear once more that it does not employ, or intend to employ, any hydraulic fracturing techniques on any of its presently operated fields. Hydraulic fracturing is an expensive and complex technique used to improve the performance of wells producing directly from shale reservoirs. As regards Balcombe in particular Angus do not need to use this technique because we will be producing from a limestone reservoir within the shale.
George Lucan, Managing Director, comments "With our revised planning application, over which great care has been taken, we look forward to a fair hearing and positive result which will allow the Company and its shareholders to exploit this valuable asset and make our own contribution to the Government's Net Zero targets specifically by replacing imported hydrocarbons and their higher associated carbon footprint."
END.
Enquiries:
Angus Energy Plc | www.angusenergy.co.uk |
George Lucan | Tel: +44 (0) 208 899 6380 |
Beaumont Cornish (Nomad) | www.beaumontcornish.com |
James Biddle/ Roland Cornish | Tel: +44 (0) 207 628 3396 |
WH Ireland Limited (Broker) | |
Katy Mitchell/ Harry Ansell | Tel: +44 (0) 113 394 6600 |
Flagstaff PR/IR | angus@flagstaffcomms.com |
Tim Thompson | Tel: +44 (0) 207 129 1474 |
Fergus Mellon |
Notes
About Angus Energy plc. Angus Energy plc. is a UK AIM quoted independent onshore oil and gas production and 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 majority owns and operates conventional oil production fields at Brockham (PL 235) and Lidsey (PL 241) and has a 25% interest in the Balcombe Licence (PEDL244) and a 12.5% interest in the PEDL143 Licence (A24 Prospect).
Qualified Person's Statement:
Andrew Hollis, the Technical Director of the Company, who has over 40 years of relevant experience in the oil and gas industry, has approved the information contained in this announcement. Mr Hollis is a Fellow of the Geological Society and member of the Society of Petroleum Engineers.