Angus Energy plc has won its appeal against West Sussex County Council’s refusal to grant permission for an extended well test at its Balcombe oil site. DRILLING FLUIDS The company holds a 25% interest along with Cuadrilla Balcombe Ltd (56.25%) and Lucas Bolney Ltd (18.75%) in PEDL 244 targeting the Kimmeridge limestones. The Balcombe 2Z […]
Tag: Angus Energy plc
Angus issues second tranche shares from £7m fundraise
Angus Energy plc has restarted drilling at Saltfleetby and is to issue the second tranche of shares following its two-tranche fundraise comprising a placing and subscriptions in December 2022. SALTFLEETBY DRILLING The company said that drilling has to date reached 2,553 metres measured depth at the onshore gas field within PEDL005 on the coast of […]
Angus gas production exceeds predicted volumes
Angus Energy plc reported gas production in excess of predicted volumes at Saltfleetby gas field, east Lincolnshire. GAS VOLUMES The company said its quarterly figures of gas volumes produced and sold equalled 5.6 million Therms in aggregate for October, November and December combined. This equated to 1.87 million Therms per month, which Angus said was […]
Angus targets £7m via placing and subscriptions
Angus Energy plc has to date raised £5.6 million of a target of £7.1m through a placing and subscriptions in two tranches. PLACING AND SUBSCRIPTIONS The company raised a total of £1.89m through the placing of 115,000,000 ordinary shares. The first tranche of subscriptions generated an initial £3.7m through the issue of 226,219,000 ordinary shares at 1.65p per […]
Angus issues 500,000 ordinary shares on exercise notices
Angus Energy plc has issued 500,000 ordinary shares of £0.002 each in the company after receiving exercise notices. The exercise price is of 1.2, 1.35 and 1.5 pence per share. The company has 41,891,372 warrants over ordinary shares outstanding. On admission, Angus will have 2,939,270,014* ordinary shares in issue, each with one vote. The company […]
Angus to resume drilling reservoir ahead of testing
Angus Energy plc hopes to resume drilling into the open hole of the reservoir at Saltfleetby in East Lincolnshire. OPERATIONS Towards the end of November, the company paused operations at the top of the reservoir. Angus today said that despite “relatively slow progress” in casing and cementing it expected to restart drilling early next week […]