Angus Energy (AIM: ANGS) is pleased to announce that, further to the announcement of 24 May 2022 and the acquisition of the remaining 49% interest in the Saltfleetby Project, Paul Forrest has now joined the Board of the Company as a non-executive director.
Mr. Forrest brings broad hydrocarbon and financial experience as well as intimate knowledge of the Company’s Saltfleetby gas field.
Paul Forrest, is the owner and sole director of Forum Energy Services Limited, which sold 100% of Saltfleetby Energy Limited to Angus in May 2022 and which presently has a substantial strategic stake in Angus of approximately 21%.
Paul Forrest has nineteen years’ experience in the natural resources sector, including ten years in offshore oil and gas in the Philippines, and more recently seven years UK onshore oil and gas culminating in the acquisition of the Saltfleetby Project in 2019. He is the former financial controller of AIM traded Forum Energy Plc and Celtic Resources Plc.
George Lucan, CEO of Angus, writes: “Paul was well known to the Angus team from some years before the acquisition of Saltfleetby and we have continued that working relationship into our working partnership in that field over the last two years. We welcome his insight and support both as a director and as a substantial and strategic shareholder.”
Paul Forrest, director of Forum Energy Services, writes: “I am pleased to join the Board and ensure the development of the full potential of the Saltfleetby gas field, in particular, and the growth and development of the Company as a profitable transition energy provider more generally.”
Other than as disclosed below, there are no further disclosures to be made in accordance with AIM Rule 17 and paragraph (g) of Schedule Two of the AIM Rules for Companies:
Paul Forrest (aged 52) is or has during the last five years been a director or partner of the following companies and partnerships:
Paul Forrest holds 546,000,000 Ordinary Shares representing 21.08% of the Company’s issued share capital.
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Enquiries:
Angus Energy Plc
George Lucan
Tel: +44 (0) 208 899 6380
