Angus Energy plc has conditionally raised £3 million, via a placing and subscription of 1.5 billion new ordinary shares, at 0.2p per share, to support a restructuring agreement with its lenders. CREDITORS Net proceeds will help pay for a fourth well at the Saltfleetby gas field in East Lincolnshire, and the well workover at Brockham […]
Tag: Saltfleetby gas field
Angus increases Saltfleetby production
Angus energy plc reported a “substantial” increase in production, after completing coil tubing operations on Saltfleetby-B7 and B2 wells, at the gas field on the Lincolnshire coast. DEBT The company recorded average daily production of approximately 6.3 million standard cubic feet per day, over last week, which is around a 30% increase on Q4 2025 […]
Angus takes minority role in potential Gulf assets
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 […]
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 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 […]
New compressor increases Saltfleetby production
Angus Energy plc has increased production following the commissioning of the new booster compressor at the Saltfleetby gas field in East Lincolnshire. OPTIMISE The company said that operations, starting on 11 April, were at a lower suction pressure than the two existing compressors to allow “more pressure drawdown of the wells”. This also eased the […]