25 April 2018
Angus Energy Plc
("Angus Energy" or the "Company")
Angus Energy Receives Retention Approval For Lidsey Oil Field
Angus Energy plc, a conventional oil and gas production and development company, is pleased to note yesterday's unanimous decision of the West Sussex County Council's ("WSCC") Planning Committee to approve Angus Energy's retention application for the Lidsey Oil Field.
This final approval allows Angus Energy to continue its current operations at Lidsey until 2028.
Furthermore, the Company notifies investors that, following its RNS of 29 March 2018 whereby it disclosed that the Company had gross production of 212bopd across its 3 producing wells, the Company gave an illustrative, back of the envelope estimate of approximately £1.5 million of free cashflow to the licence holders from each 100 barrels produced at an oil price of $75 after sale and transport costs during podcast interviews yesterday, only for purposes of example. It should not be considered as forward looking information and/or a guarantee of future performance.
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About Angus Energy plc.
Angus Energy plc. is a UK AIM quoted independent onshore oil and gas production and development company focused on leveraging its expertise to advance its portfolio of UK assets as well as acquire, manage and monetise select projects. Angus Energy majority owns and operates conventional oil production fields at Brockham (PL 235) and Lidsey (PL 241) and has a 12.5% interest in the Holmwood licence (PEDL143) along with an agreement to acquire a 25% interest in the Balcombe Licence (PEDL244).
Enquiries:
Angus Energy Plc |
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Jonathan Tidswell-Pretorius / Paul Vonk |
Tel: +44 (0) 208 899 6380 |
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Beaumont Cornish (NOMAD) |
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James Biddle/ Roland Cornish |
Tel: +44 (0) 207 628 3396 |
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Optiva Securities Limited (BROKER) |
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Jeremy King/ Ed McDermott |
Tel: +44 (0) 203 137 1902 |
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Yellow Jersey |
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Tim Thompson |
Tel: +44 (0) 203 735 8825 |
