Angus Energy PLC Balcombe Oil Field Update (2959Q)
17 10월 2023 - 3:30PM
UK Regulatory
TIDMANGS
RNS Number : 2959Q
Angus Energy PLC
17 October 2023
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 .
17 October 2023
Angus Energy Plc
("Angus Energy", the "Company" or together with its
subsidiaries, the "Group")
(AIM:ANGS)
Balcombe Oil Field Update
Angus Energy plc (AIM: ANGS) is pleased that the High Court has
upheld its right to test the existing well at its Balcombe wellsite
in the PEDL244 Licence in West Sussex. The Balcombe-2Z well was
drilled almost a decade ago and a short-term, inconclusive test was
carried out by the Company in November 2018. Testing operatons can
now be restarted according to normal oilfield practice to determine
the commercial viability of the discovery.
The Company presently has a 25% interest in the Licence and is
in discussions with the 75% majority partner regarding that
interest and the work programme with regard to the project's
various stages.
The Company notes that in the 40 years of this site's existence
there has never been any hydraulic fracturing either proposed or
employed.
Richard Herbert, CEO, comments "The Kimmeridge reservoir at
Balcombe is presently an unknown quantity, and now we are able to
conduct the necessary flow testing to determine the potential to
flow at commercial rates. We remain most mindful of the concerns of
local residents in our common pursuit, in a safe and responsible
manner, of a diverse source of domestically-sourced energy as
against higher carbon footprint imports."
END
For further information on the Company, please visit
www.angusenergy.co.uk or contact:
Enquiries:
Angus Energy Plc www.angusenergy.co.uk
Richard Herbert 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 angus@flagstaffcomms.com
Tim Thompson / Fergus Mellon Tel: +44 (0) 207 129 1474
Aleph Commodities info@alephcommodities.com
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.
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END
UPDNKABNOBDDQKD
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October 17, 2023 02:30 ET (06:30 GMT)
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