Angus Energy plc has reduced its debt to Trafigura from around £26 million to £22.7m after making its first ‘cash sweep’, following its financial restructuring agreed in June of this year. The company, which owns the Saltfleetby gas field in East Lincolnshire, has repaid in full the £1.95m overriding royalty interest (ORRI), and made a […]
Tag: Trafigura
Angus resumes trading
Angus Energy plc today resumed trading, after 14 months’ suspension from the London Stock Exchange. DEBT Trading suspended on 19 May 2025 while the company secured an agreement on its financial restructuring and debt repayment, notably £20 million owed to Trafigura. Publication of a document was also pending in relation to a non-binding agreement to […]
Angus conditionally raises £3m to restructure debt
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 […]
Tullow chairman steps down in board overhaul
Tullow Oil plc chairman and non-executive director Phuthuma Nhlekohas has stepped down with immediate effect, to focus on “other business interests”. His departure is one of a series which includes independent NEDs Genevieve Sangudi, Martin Greenslade and Mitchell Ingram who also leave immediately. The company has appointed Roald Goethe as the new independent non-executive chairman […]
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 shareholders approve 227m fee shares issue
Angus Energy plc shareholders backed the issue of 226,513,000 fee shares to Aleph Commodities Ltd in relation to February’s £20m Trafigura financing. Approval was given at the company’s general meeting on 14 March. On admission, Angus will have 4,394,406,340 ordinary shares in issue, each with the right to one vote. The company holds no ordinary shares […]