Saltfleetby Gas Field: Update

RNS Number : 9329G

Angus Energy PLC

29 July 2019

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) ("MAR"). THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

29 July 2019

Angus Energy Plc

("Angus Energy" or the "Company")

Saltfleetby: Submission of Application for Reconnection

Angus Energy (AIM: ANGS) is pleased to announce that it has submitted to the National Grid a 'Connection Application' for direct entry to the National Transmission System ("NTS") from the Company's Saltfleetby Gas Field. The application commits Angus to a spend of £75,000 and is a significant milestone in the Company's goal to re-commence commercial gas production from the field.

A detailed feasibility study will now begin to identify the most suitable tie-in location to the existing NTS connection point at the Theddlethorpe terminal. Furthermore, this study will include detailing equipment requirements for gas processing and assessing pipeline routes into the NTS.

George Lucan, interim Managing Director, adds:  "By submitting this application we set in motion a professionally and technically demanding process to re-establish safe connection and commercial flow of gas from the Saltfleetby Gas Field into the National Transmission System.  We will carefully update shareholders with the timetable and milestones in this process as they become known to us."

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.

END.

Enquiries:

Angus Energy Plc	www.angusenergy.co.uk
George Lucan	Tel: [phone]
Beaumont Cornish (Nomad)	www.beaumontcornish.com
James Biddle/ Roland Cornish	Tel: [phone]
WH Ireland Limited (Broker)
Katy Mitchell/ Harry Ansell	Tel: [phone]
Yellow Jersey	[e-mail]
Tim Thompson	Tel: [phone]
Henry Wilkinson

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 Holmwood licence (PEDL143).

 

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