Angus Energy plc said that a United States-based third party would manage its potential acquisition of producing assets, offshore Gulf of America (Gulf of Mexico). DEBT The move will leave Angus with a minority, non-operated interest, allowing it to “focus financial and human capital efficiently, reduce operational risk and enhance potential returns on investment”. Any […]
Tag: Angus Energy plc
Angus agrees non-binding terms for Trafigura debt
Angus Energy pl has agreed non-binding terms with Trafigura to restructure its debt in order to provide a “stable financial platform to support future operations”. ACQUISITION The terms are subject to final agreements on new covenants, revised terms with the overriding royalty interest holders, and deferred payment owed to Forum Energy Services Ltd. The company’s […]
Angus appoints two NEDs to board
Angus Energy plc has appointed Alex Craig and Richard Glass to the board as non-executive directors. Mr Craig represents one of the company’s larger shareholder, Aleph Commodities which, along with its related parties, holds 395,350,827 ordinary Angus shares, representing 7.93% of its issued share capital. Mr Glass represents Forum Holdings from which Angus purchased the […]
Angus revises £1.89m debt payment to Forum
Angus Energy plc has secured deferred payment of an outstanding £1.89 million owed to Forum Energy Services Ltd, the former 49% owner of the Saltfleetby gas project in East Lincolnshire. COMPANY MOVES The sum includes £300,000 for the quarter to 31 March 2025. Angus said that Forum had also agreed to suspend its rights to […]
Angus CEO resigns
Angus Energy plc’s chief executive officer and director Richard Herbert has resigned, with immediate effect. The company also announced that it was in “active discussions” with Jonathan Tidswell-Pretorius on assuming the role of interim non-board role of chief operating officer. “The board would like to thank Richard for his dedication and hard work in taking […]
Angus looks to diversify with Gulf assets
Angus Energy plc has signed a tentative deal to diversify and expand its footprint to the Gulf of Mexico (Gulf of America) in a reverse takeover. STABILITY The non-binding agreement to buy a “group of producing assets” results in the company’s shares’ suspension today from trading under AIM rules. Angus said that the potential acquisition […]