Last checked at 19 Oct 2017 07:00
7.00am 19 October 2017
Angus Energy PLC
("Angus Energy" or the "Company")
Update on Holmwood well, PEDL 143, Weald Basin
Angus Energy notes the following update provided by Euopa Oil & Gas (Holdings) plc ("Europa") on the Holmwood well, PEDL 143 in the Weald Basin in which Angus Energy plc has a 12.5% interest as announced on 6 February 2017.
"Europa Oil & Gas (Holdings) plc, UK and Ireland focussed exploration, development and production company notes the outcome of the Surrey County Council Planning and Regulatory Committee meeting on 18 October 2017 in connection with a conventional oil exploration well to test the Holmwood prospect at Bury Hill Wood, Coldharbour Lane, Surrey:
· A planning application for a security fence for the drill site was approved by Surrey County Council ('SCC') at the Planning and Regulatory Committee meeting on 18 October 2017.
· The Planning Committee elected to defer a decision on Condition 19 (Traffic Management Scheme) pending response to further requests for information from the Planning Committee.
Europa will consult with its joint venture partners and advisers and respond to SCC on Condition 19 accordingly.
As a consequence of the deferred decision on Condition 19, the Company advises that it anticipates operations to drill the Holmwood conventional oil exploration well will now commence in H1 2018.
Europa is operator of the Licence in which it holds a 20% interest, alongside UK Oil & Gas Investments plc 30%, Egdon Resources plc 18.4%, Angus Energy plc 12.5%, Warwick Energy 10%, Union Jack Oil plc 7.5% and Altwood Petroleum 1.6%.
Qualified Person Review
This release has been reviewed by Hugh Mackay, Chief Executive of Europa, who is a petroleum geologist with 30 years' experience in petroleum exploration and a member of the Petroleum Exploration Society of Great Britain, American Association of Petroleum Geologists and Fellow of the Geological Society. Mr Mackay has consented to the inclusion of the technical information in this release in the form and context in which it appears."
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 |
Yellow Jersey | |
Tim Thompson | Tel: +44 (0) 203 735 8825 |
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).