Angus Energy (AIM: ANGS) is pleased to announce that Richard Herbert has been appointed a Non-Executive Director of the Company with immediate effect. It is expected that Richard will rotate into the role of Non-Executive Chairman at the forthcoming Annual General Meeting, with current Chairman Patrick Clanwilliam becoming a Non-Executive Director at that time.
George Lucan, CEO, comments: “Richard brings broad and deep experience in the oil and gas sector and in particular of managing the challenging onshore drilling environment in the UK. Angus’ Board is considerably stronger for his presence and we look forward to working with him.”
Richard Herbert comments: “I am very pleased to be appointed to the Angus Board to support the development and operations of the Company’s strategic asset at the Saltfleetby gas field. After many years in the international oil and gas industry, I am very happy to be returning to work in the onshore UK sector, where I formally worked for BP as the manager of the Wytch Farm oil field in Dorset. Saltfleetby makes an important contribution to securing energy for the UK and is a solid platform on which to build a low-carbon energy company for the future needs of the country.”
Richard Herbert is a geologist by background and has worked in the exploration and production business for over 42 years. After a long career at BP, he retired as COO Exploration in 2016. Former roles include Executive Vice-President for Technology at TNK-BP in Russia, Vice-President of Exploration for Talisman Energy in Alberta, Canada and most recently, CEO of Canadian independent Frontera Energy Corporation, operating in Latin America.
Richard Herbert (aged 64) is or has during the last five years been a director or partner of the following companies and partnerships:
R Herbert Associates Limited
Frontera Energy Corporation
Frontera Energy Colombia Corporation
Other than as disclosed above, 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.
The Company and Richard Herbert have entered into a standard services agreement for his director services whilst his existing consultancy arrangement with the Company will continue at the agreed daily rate.
Saltfleetby Drilling Programme Update
Angus Energy (AIM: ANGS) announces that the drilling programme at Saltfleetby is likely to be extended by approximately 14 days as a consequence of drilling issues in the Westphalian reservoir and following which the testing phase will commence.
The Company is preparing to mill a new window in the 7″ casing, some 100 metres above the present cased depth of approximately 2400 metres, and to drill directly to target depth in 6″ hole. Operations to mill the window are expected to commence tomorrow and drilling in open hole will resume before the end of the week.
An infographic of the programme change will be posted on the Company’s website and social media pages over the next two days.
Qualified Person’s Statement: Andrew Hollis, the Technical Director of the Company, who has over 40 years of relevant experience in the oil and gas industry, has approved the information contained in this announcement. Mr Hollis is a Fellow of the Geological Society and member of the Society of Petroleum Engineers.
Angus Energy Plc
Tel: +44 (0) 208 899 6380
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