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Pin to quick picksAngus Energy Regulatory News (ANGS)

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Update on Installation Schedule at Saltfleetby

Wed, 27th Apr 2022 07:00

RNS Number : 4344J
Angus Energy PLC
27 April 2022
 

 

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.

 

27 April 2022

Angus Energy Plc 

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

Update on Installation Schedule at Saltfleetby

The Company updates on progress on its installation and commissioning schedule. Delivery and installation dates remain substantially unchanged with the bulk of the last skids arriving shortly after the bank holiday weekend, although it is possible that the Joule Thomson skid could be delayed to the following week as a consequence of a potential delay in the delivery of an accessory. All earlier packages, referred to in our RNS of 8 April 2022 are now being tied in.

 

Skid/Unit

Basc Fabrication Status

Blasting, Painting Assembly, Testing, Certification etc

Target Delivery Date

Electrical Room

100% complete

Completed

Completed

Separator Vessel

100% complete

Completed

Completed

Passive Dehydration

100% complete

Completed

Completed

1st compression

100% complete

Completed

27 April

Gas Engine Generator

100% complete

90% complete

29 April

Export Filters/Diverters

100% complete

Re-assembly

3 May

Condensate Stabilisation Skid

100% complete

Reassembly

4 May

Joule Thomson Skid

100% complete

Re-assembly

5 May-10 May

 

The work of dry commissioning has begun with the identification of key lines for initial hydrotesting and the development of programme for some 40 tests. All welds are visible so testing is of a relatively short duration.

Welding and electrical tie-in of these skids to the ring main of pipework and cabling around the site are the immediate objectives. Cable pull is expected over the next 5 working days and the ring main of pipework is 80% complete. We have some 9 squads of welders, riggers and fitters supported by platers and a number of electrical specialists supporting tie in. The first stages of dry commissioning are in progress with determination of the selection of with select hydrotesting of key site pipework. This will be augmented with electrical and control tests during throughout the first two weeks of May. 

Wet commissioning is expected to begin at or around 18 May and we are pleased to be assisted in this by an experienced team led by OSL and Inspec. We continue to aim for a short wet commissioning programme and a target date of First Gas of 1 June. This would allow for one full month of production at current high spot prices before the Company's obligations to deliver volumes at the hedge price commence at the end of June. 

 

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

 

Aleph Commodities

info@alephcommodities.com

 

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 51% 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).

 

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.

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of any securities or the solicitation of any vote or approval in any jurisdiction. Any offer (if made) will be made solely by certain offer documentation which will contain the full terms and conditions of any offer (if made), including details of how such offer may be accepted. This announcement has been prepared in accordance with English law and the Code, and information disclosed may not be the same as that which would have been prepared in accordance with laws outside of the United Kingdom. The release, distribution or publication of this announcement in jurisdictions outside of the United Kingdom may be restricted by laws of the relevant jurisdictions, and therefore persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the FCA, is acting as Nominated Adviser and Financial Adviser to Angus and for no one else in connection with any matter referred to in this announcement and will not be responsible to anyone other than Angus for providing the protections afforded to its clients nor for providing advice in relation to any matters set out in this Announcement

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDBKABNABKDDQB
Date   Source Headline
29th Jul 202212:40 pmRNSProgress Update at Saltfleetby
22nd Jul 202212:54 pmRNSProgress Update at Saltfleetby
18th Jul 20223:32 pmRNSProgress Update at Saltfleetby
18th Jul 20222:37 pmRNSDirectorate Change
13th Jul 20222:00 pmRNSExercise of Warrants and TVR

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