Angus Energy plc has reduced its debt to Trafigura from around £26 million to £22.7m after making its first ‘cash sweep’, following its financial restructuring agreed in June of this year. The company, which owns the Saltfleetby gas field in East Lincolnshire, has repaid in full the £1.95m overriding royalty interest (ORRI), and made a […]
Tag: Angus Energy plc
Angus appoints COO-executive director
Angus Energy plc has appointed Ross Pearson as chief operating officer and executive director, with immediate effect. Since October 2023, Mr Pearson has been director of wells and subsurface, with responsibility for the technical team, capital budget, drilling and workover programmes, and M&A evaluation. He was previously technical director and executive committee member at IGas […]
Angus resumes trading
Angus Energy plc today resumed trading, after 14 months’ suspension from the London Stock Exchange. DEBT Trading suspended on 19 May 2025 while the company secured an agreement on its financial restructuring and debt repayment, notably £20 million owed to Trafigura. Publication of a document was also pending in relation to a non-binding agreement to […]
Angus conditionally raises £3m to restructure debt
Angus Energy plc has conditionally raised £3 million, via a placing and subscription of 1.5 billion new ordinary shares, at 0.2p per share, to support a restructuring agreement with its lenders. CREDITORS Net proceeds will help pay for a fourth well at the Saltfleetby gas field in East Lincolnshire, and the well workover at Brockham […]
Angus nears conclusion of financial restructuring
Angus Energy plc, which owns the Saltfleetby onshore gas field, today said it expected to complete its proposed financial restructuring “in the coming weeks”. TRADING The company added that, although progress had been “slower than anticipated”, it continued to make “good progress” on documentation associated with the proposed financial restructuring. “Upon execution, the proposed restructuring […]
Angus increases Saltfleetby production
Angus energy plc reported a “substantial” increase in production, after completing coil tubing operations on Saltfleetby-B7 and B2 wells, at the gas field on the Lincolnshire coast. DEBT The company recorded average daily production of approximately 6.3 million standard cubic feet per day, over last week, which is around a 30% increase on Q4 2025 […]