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 […]
Tag: Saltfleetby gas field – PEDL005
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 issues 428m shares as deferred payment
Angus Energy plc has issued 427,893,123 ordinary shares to convert £1 million of the February 2022 deferred consideration to Forum Energy Services Ltd. COMPRESSOR The conversion notice from Forum covers principal payments due up to and including 31 December 2024. Angus said it would a further 137,145,481 ordinary shares in relation to accrued interest until […]
Angus commissions permanent flowline
Angus Energy plc has commissioned the permanent flowline from the BO7T sidetrack well at the Saltfleetby gas field in Lincolnshire. COST REDUCTIONS In May the company connected the well with a temporary flowline and began construction of its permanent replacement. “This has been a challenging project not least because of the weather conditions during construction […]