Angus Energy PLC Alignment of Brockham and Lidsey Licence holdings (8646B)
June 15 2021 - 01:00AM
UK Regulatory
TIDMANGS
RNS Number : 8646B
Angus Energy PLC
15 June 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART
OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018.
15 June 2021
Angus Energy Plc
("Angus Energy", "Angus" or the "Company")
Alignment of Brockham and Lidsey Licence holdings
Angus Energy plc (AIM: ANGS) is pleased to announce the
acquisition of Alba Mineral Resources plc's 5% interest in the
Brockham Field. The net consideration after settlement of
outstanding amounts and a contribution toward eventual abandonment
costs involves a payment by Alba to Angus of GBP38,400, settled as
to GBP6,400 in cash and GBP32,000 by the issue of 12,407,910 shares
in Alba at the 10 day VWAP of 0.2579p per share representing
approximately 0.20% of the share capital of Alba.
George Lucan, Managing Director, comments: "Seismic acquisition
at Lidsey is complete and reprocessing of newly acquired and
existing lines is underway. In line with our husbandry of legacy
oil assets, this transfer aligns our interest in Lidsey and
Brockham fields at 80% with identical partners in each Licence. It
is the Company's expectation that moderate oil production and the
facility of water injection at Brockham, together with 9.7 million
barrels of Oil In Place at Lidsey, will represent a good value
proposition for shareholders, and for possible farminees, once
seismic re-interpretation is complete and permissions are in place
for a side-track at Lidsey. "
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).
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END
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