Angus Energy Regulatory News (ANGS)

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.

18 July 2022

Angus Energy Plc 

("Angus Energy", "Angus" or the "Company")

Appointment of Director

Angus Energy (AIM: ANGS) is pleased to announce that, further to the announcement of 24 May 2022 and the acquisition of the remaining 49% interest in the Saltfleetby Project, Paul Forrest has now joined the Board of the Company as a non-executive director. Mr. Forrest brings broad hydrocarbon and financial experience as well as intimate knowledge of the Company's Saltfleetby gas field. 

Paul Forrest, is the owner and sole director of Forum Energy Services Limited, which sold 100% of Saltfleetby Energy Limited to Angus in May 2022 and which presently has a substantial strategic stake in Angus of approximately 21%.

Paul Forrest has nineteen years' experience in the natural resources sector, including ten years in offshore oil and gas in the Philippines, and more recently seven years UK onshore oil and gas culminating in the acquisition of the Saltfleetby Project in 2019. He is the former financial controller of AIM traded Forum Energy Plc and Celtic Resources Plc.

George Lucan, CEO of Angus, writes: "Paul was well known to the Angus team from some years before the acquisition of Saltfleetby and we have continued that working relationship into our working partnership in that field over the last two years. We welcome his insight and support both as a director and as a substantial and strategic shareholder."

Paul Forrest, director of Forum Energy Services, writes: "I am pleased to join the Board and ensure the development of the full potential of the Saltfleetby gas field, in particular, and the growth and development of the Company as a profitable transition energy provider more generally."

Other than as disclosed below, there are no further disclosures to be made in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies:

Paul Forrest (aged 52) is or has during the last five years been a director or partner of the following companies and partnerships:

Paul Forrest holds 546,000,000 Ordinary Shares representing 21.08% of the Company's issued share capital.

END.

Enquiries:

Notes

About Angus Energy plc

Angus Energy plc is a UK AIM quoted independent onshore Energy Transition company with a complementary portfolio of clean gas development assets, onshore geothermal projects, and legacy oil producing fields. Angus is focused on becoming a leading onshore UK diversified clean energy and energy infrastructure company. Angus Energy has a 100% interest in the Saltfleetby Gas Field (PEDL005), 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). Angus Energy operates all fields in which it has an interest.

Important Notices

This announcement contains 'forward-looking statements' concerning the Company that are subject to risks and uncertainties. Generally, the words 'will', 'may', 'should', 'continue', 'believes', 'targets', 'plans', 'expects', 'aims', 'intends', 'anticipates' or similar expressions or negatives thereof identify forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements. Many of these risks and uncertainties relate to factors that are beyond the Company's ability to control or estimate precisely. The Company cannot give any assurance that such forward-looking statements will prove to have been correct. The reader is cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this announcement. The Company does not undertake any obligation to update or revise publicly any of the forward-looking statements set out herein, whether as a result of new information, future events or otherwise, except to the extent legally required.

Nothing contained herein shall be deemed to be a forecast, projection or estimate of the future financial performance of the Company.