Angus Energy plc non-executive director Paul Forrest has sold 8 million further ordinary shares of 0.002p each at an average price of 1.6 pence per ordinary share. Following the sale for around £128,000 on 31 March 2023, his total shareholding in the company is 512,856,061 ordinary shares representing 14.28% of the issued share capital. Mr […]
Tag: Angus Energy plc
Angus agrees £3m loan with Kemexon
Angus Energy plc has agreed a £3 million junior debt facility from commodity trading house and the company’s 9.91% shareholder Kemexon Ltd. BRIDGE FACILITY The ‘bridge facility’ has an initial term of three months, extendable by paying a 3% roll fee for a further three months. The debt is priced at SONIA* + 15% and commits the company to issue […]
Angus losses rise due to derivative instrument
Angus Energy plc’s rise in losses could see it raise further funds for its onshore oil and gas assets in the United Kingdom. FINANCES The company’s audited annual accounts for the year ended 30 September 2022 showed losses of £111.947m, which included a derivative loss of £110.309m in relation to the derivative instrument, resulting in […]
Angus fully commissions second compressor
Angus Energy plc reported that the second compressor was now fully commissioned and processing gas for export at Saltfleetby in east Lincolnshire. MAINTENANCE “Well completion continues on the sidetrack well SF7V with clean-up work awaiting coiled tubing due late March,” added the company. “The intervening time window offers a useful opportunity to perform regular maintenance […]
Angus Energy looks to further £3m debt
Angus Energy plc announced an offer of further funding for drilling and acquisitions as it completed drilling the SF7v sidetrack at Saltfleetby field in east Lincolnshire. FLOW TESTING The sidetrack well reached a total measured depth of 2,746 metres in the Westphalian 1D reservoir. Angus will conduct well clean-up operations in mid-March once coiled tubing […]
Angus proposes new CEO and chairman
Angus Energy plc’s chief executive officer George Lucan plans to step down to become executive chairman in one of a number of proposed board changes. CHANGES The company said that the moves were in line with its vision of becoming a “significant player in the aggregation, production and storage of gas”. As executive chairman, Mr […]