Angus Energy PLC Investor Questions - Matters Arising (4861B)
30 Gennaio 2020 - 5:30PM
UK Regulatory
TIDMANGS
RNS Number : 4861B
Angus Energy PLC
30 January 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.
30 January 2020
Angus Energy Plc
("Angus Energy" or the "Company")
Investor Questions - Matters Arising
Angus Energy plc (AIM: ANGS) is pleased to have responded to
some two dozen questions this month most of which are on technical
matters, however we draw attention to two issues.
The first is to clarify that for almost any new or renewed
operations, we do seek permissions from, or at any rate make
notifications with, all regulators. Specifically, we are seeking in
respect of the forthcoming Balcombe works, planning permission from
West Sussex County Council, variation of permit from Environment
Agency, and will make at least notification to Health & Safety
Executive and lastly seek approval of our Extended Well Test from
Oil & Gas Authority. There will often be second level
conditions imposed, each with their own timetable. There is no
statutory precedence of one approval over another nor is their any
guidance as to such - they must all be sought, twin-tracked or
multi-tracked as the case may be. Once provided by the relevant
regulatory bodies the planned extended well test can proceed.
The second is to clarify that the GBP1.5 million 24(th) October
2019 Convertible Loan Note was raised in replacement of the January
2019 GBP3 million convertible facility which had been partially
drawn on and fully repaid. As of 27(th) February the Company has
drawn down GBP1 million of the GBP1.5 million October 2019
facility, of which GBP100,000 has been converted and GBP900,000
remains outstanding. At the same date cash at bank and in hand on
27(th) February 2020 was GBP3.5 million of which GBP650,000 is
segregated reserving for eventual abandonment at Brockham and
Lidsey. Most of the balance of GBP2.85 million free cash is being
held to meet new and ongoing capital expenditure commitments at
Saltfleetby and, to a lesser extent, at Balcombe, both of which
projects remain within budget.
We attach the full text of the questions hereto but they may be
found from midnight alongside previous month's questions at
http://www.angusenergy.co.uk/media/investor-questions/
George Lucan, Managing Director, writes "We are pleased by the
level of interest shown in our Investor Questions board and the
quality of questions received."
Technical Sign off
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: +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
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 and gas
production fields at Brockham (PL 235) and Lidsey (PL 241) and
Saltfleetby (PEDL005) and has a 25% interest in the Balcombe
Licence (PEDL244) and a 12.5% interest in the PEDL143 Licence (A24
Prospect).
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.
END
MSCKKKBBABKDADN
(END) Dow Jones Newswires
January 30, 2020 11:30 ET (16:30 GMT)
Grafico Azioni Angus Energy (LSE:ANGS)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Angus Energy (LSE:ANGS)
Storico
Da Apr 2023 a Apr 2024