THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

02 November 2022

Angus Energy Plc

("Angus Energy", the "Company" or together with its subsidiaries, the "Group")

(AIM:ANGS)

Exercise of Warrants and TVR

Director's Dealing

Angus Energy Plc announces that, following the receipt of Warrant Exercise Notice's, it has issued 36,599,864 ordinary shares of £0.002 each in the capital of the Company at an exercise price of 1.0989 pence per share ("New Ordinary Shares"). The New Ordinary Shares will rank pari passu with the existing ordinary shares in issue.

Accordingly, the Company has 42,703,372 warrants over Ordinary Shares outstanding.

Admission to trading

Application will be made to the London Stock Exchange for Admission of the New Ordinary Shares. It is expected that admission will become effective and dealings in the New Ordinary Shares will commence at 8.00 a.m. on or around 8 November 2022 ("Admission").

Following the issue of the New Ordinary Shares, the Company will have 2,938,458,014 Ordinary Shares in issue, each share carrying the right to one vote (the "Enlarged Issued Share Capital"), each share carrying the right to one vote. The Company does not hold any Ordinary Shares in treasury.

The above figure of 2,938,458,014 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Director/PDMR Shareholding

The Company has been informed that Paul Forrest, Non-Executive Director, on 27 October 2022 completed an off-market transfer of 76,500,000 Ordinary Shares of 0.002p each ("Ordinary Shares") at an average price of 2.2 pence per Ordinary Share. Paul Forrest's total shareholding in the Company is now 460,250,000 Ordinary Shares representing 15.86 per cent. of the Company's issued share capital.

Paul Forrest, Director of Forum Energy Services Ltd and Angus Energy plc writes: "Forum Energy Services Ltd had a number of cash commitments to meet this quarter which we have been able to meet by disposing of the stock at a favourable price."

END

For further information on the Company, please visit www.angusenergy.co.uk or contact:

Enquiries:

Angus Energy Plc                                             www.angusenergy.co.uk

George Lucan                                                    Tel: +44 (0) 208 899 6380

Beaumont Cornish Limited (Nomad)      www.beaumontcornish.com

James Biddle / Roland Cornish                   Tel: +44 (0) 207 628 3396

WH Ireland Limited (Broker)     

Katy Mitchell / Harry Ansell                         Tel: +44 (0) 207 220 1666

Flagstaff PR/IR                                                  [email protected]

Tim Thompson / Fergus Mellon                 Tel: +44 (0) 207 129 1474              

Aleph Commodities                                       [email protected]

Disclaimers - this Announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "forecasts", "plans", "prepares", "anticipates", "projects", "expects", "intends", "may", "will", "seeks", "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Announcement and include statements regarding the Company's and the Directors' intentions, beliefs or current expectations concerning, amongst other things, the Company's prospects, growth and strategy. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The Company's actual performance, achievements and financial condition may differ materially from those expressed or implied by the forward-looking statements in this Announcement. In addition, even if the Company's results of operations, performance, achievements and financial condition are consistent with the forward-looking statements in this Announcement, those results or developments may not be indicative of results or developments in subsequent periods. Any forward-looking statements that the Company makes in this Announcement speak only as of the date of such statement and (other than in accordance with their legal or regulatory obligations) neither the Company, nor the Bookrunner nor Beaumont Cornish nor any of their respective associates, directors, officers or advisers shall be obliged to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.

Paul Forrest

TR-1: Standard form for notification of major holdings

1. Issuer Details

ISIN

GB00BYWKC989

Issuer Name

ANGUS ENERGY PLC

UK or Non-UK Issuer

UK

2. Reason for Notification

An acquisition or disposal of voting rights

3. Details of person subject to the notification obligation

Name

Forum Energy Services Limited

City of registered office (if applicable)

Isleworth

Country of registered office (if applicable)

United Kingdom

4. Details of the shareholder

Full name of shareholder(s) if different from the person(s) subject to the notification obligation, above

City of registered office (if applicable)

Country of registered office (if applicable)

5. Date on which the threshold was crossed or reached

27-Oct-2022

6. Date on which Issuer notified

31-Oct-2022

7. Total positions of person(s) subject to the notification obligation

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached

8A. Voting rights attached to shares

8B1. Financial Instruments according to (DTR5.3.1R.(1) (a))

8B2. Financial Instruments with similar economic effect according to (DTR5.3.1R.(1) (b))

9. Information in relation to the person subject to the notification obligation

1. Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.

10. In case of proxy voting

Name of the proxy holder

The number and % of voting rights held

The date until which the voting rights will be held

11. Additional Information

12. Date of Completion

31-Oct-2022

13. Place Of Completion

London UK