Progress Update at Saltfleetby

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.

22 July 2022

Angus Energy Plc 

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

Progress Update at Saltfleetby

Angus Energy (AIM: ANGS) is pleased to announce the following progress update at its wholly owned Saltfleetby project:

• Wellhead gas has been introduced into the system

• Wellhead pressure remains high at 80+ bar

• Final commissioning of the compressor, electrical and instrument testing due over the weekend and early next week

• First nominations (sales) planned for next week

Furthermore, the Company's site team has introduced well head gas into the first section of the facility. Well head pressures remain high at 80+ bar. 

The commissioning sequence involves completion of cause and effect testing over areas of the plant whilst steadily introducing gas into those areas. 

Minor electrical and instrumentation work on the storage tanks is scheduled to be completed by Monday. 

The final step is commissioning the compressor over the weekend and to be completed early next week. Nominations to follow shortly thereafter, once the process has been stabilised to yield a reliable gas quality for export.

END.

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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.