Angus Energy PLC Holmwood Licence Update (2647C)
October 16 2020 - 1:00AM
UK Regulatory
TIDMANGS
RNS Number : 2647C
Angus Energy PLC
16 October 2020
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.
7 am 16 October 2020
Angus Energy Plc
("Angus Energy" or the "Company")
Holmwood Licence Update
Angus Energy plc (AIM: ANGS) notes the following press release
by UKOG plc regarding the PEDL 143 Licence (Holmwood/A24 Prospect)
in which Angus had an interest of 12.5% and we reproduce their
statement unaltered below:
"A detailed study examining the viability of drilling the A24
(formerly Holmwood) Portland prospect's centre from selected sites
outside the Surrey Hills Area of Outstanding Natural Beauty, each
over 3 km from the target, concludes that the required
long-reach/shallow target-depth wells are neither technically
viable or economically feasible. Consequently, UKOG and its
partners have now relinquished their interests in the licence. It
remains a great disappointment to the Company that the licence's
former operator, Europa Oil and Gas, whilst in possession of
planning consent, failed to drill the prospect from the Holmwood
site, around 1 km from the target."
George Lucan comments: "We support the decision to relinquish
this interest which will better enable us to focus our efforts and
resources on our principal assets at Balcombe, where we await the
planning decision before year end and Saltfleetby where pipeline
installation is underway. Investors can follow our progress in
photographic form on https://twitter.com/angusenergyplc"
END.
Enquiries:
Angus Energy Plc www.angusenergy.co.uk
George Lucan Tel: +44 (0) 208
899 6380
Beaumont Cornish (Nomad) www.beaumontcornish.co
m
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
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 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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