Angus Energy Plc (AIM: ANGS), is pleased to announce that its presentation from 4 October 2022 London South East Investor webinar is now available on the Company’s website www.angusenergy.co.uk.
The presentation refers to the Company’s timetable of future operations including, inter alia, a further proposed sidetrack during Q2/3 2023 of the southern lobe of the Saltfleetby Field to address further gas contingent resources (1C) of approximately 12 BCFs as detailed in our CPR of February 2020.
Additionally, as noted in RNS of 27 April 2022 and 23 May 2022 it is the Company’s intention to abandon the Kimmeridge layer in BRX4-Z and reperforate the same well in the Portland reservoir. The Field is currently achieving flow rates of between 40 and 50 bbl/day.
It is the Company’s expectation that this operation, addressing the crest of the structure, will add a further 100 bbl/day to production from the field during Q1 2023. Planning permission for this operation has been obtained and preliminary permit approval has been received from the Environment Agency.
The Company also expressed its expectation that the Loan Facility and contingent payments to Forum Energy would be satisfied in full by Q3 2022.
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Enquiries:
Angus Energy Plc
George Lucan
Tel: +44 (0) 208 899 6380
