Angus Energy plc executive chairman and former chief executive officer George Lucan has stepped down from his post and aims to leave the board in mid-August. The announcement, effective on 14 July, came with agreement of the £6 million loan arranged by Aleph Commodities Ltd. Mr Lucan said that completion of the financing was an […]
Tag: Angus Energy plc
Angus continues B7T well clean-up at Saltfleetby
Angus Energy plc said that the new B7T well continued to clean up through the temporary flowline connecting it to the facilities at Saltfleetby gas field in east Lincolnshire. TARGET DATE The company completed the initial clean-up in April and connected a temporary flowline to the production facilities on the site to deliver processed gas […]
Angus swings to a profit and warns of ‘punitive’ taxes
Angus Energy plc swung to a profit following an increase in gas production at the Saltfleetby field in east Lincolnshire. FINANCES During the six months ended 31 July 2023, the company had three producing wells flowing gas to the National Grid with average daily production of up to 9.5 mmscfd. Revenue soared to £16.46 million […]
Angus agrees £6m bridge loan
Angus Energy plc has signed a heads of terms for a further six-month bridge loan of £6 million. USES The company added that the previous £3m debt facility from March 2023 had been rolled according to its terms for a further three months. Terms of the £6m facility will be agreed next week. Funds will […]
Angus plans expansion at Saltfleetby
Angus Energy plc reported steady production from the three producing wells of B2, A4 and B7T and plans for new wells at Saltfleetby gas field, east Lincolnshire. PRODUCTION Following a short duration plant outage, the company is exporting gas to the National Grid at a combined average daily rate of 9.5 mmscfd, reaching peak flows […]
Angus production rises 75% with second compressor
Angus Energy plc has increased production by more than 75% with the planned commissioning of the second compressor at Saltfleetby gas field in east Lincolnshire. MILESTONE Dual compressor mode began on 10 May and the three producing wells of B2, A4 and the new B7T, have since been flowing gas to the National Grid at the […]