Angus Energy PLC (AIM:ANGS) Update on Installation Schedule at Saltfleetby

The Company updates on progress on its installation and commissioning schedule. Delivery and installation dates remain substantially unchanged with the bulk of the last skids arriving shortly after the bank holiday weekend, although it is possible that the Joule Thomson skid could be delayed to the following week as a consequence of a potential delay in the delivery of an accessory.

All earlier packages referred to in our RNS of 8 April 2022 are now being tied in.

The work of dry commissioning has begun with the identification of key lines for initial hydrotesting and the development of programme for some 40 tests. All welds are visible so testing is of a relatively short duration.

Welding and electrical tie-in of these skids to the ring main of pipework and cabling around the site are the immediate objectives. Cable pull is expected over the next 5 working days and the ring main of pipework is 80% complete. We have some 9 squads of welders, riggers and fitters supported by platers and a number of electrical specialists supporting tie in. The first stages of dry commissioning are in progress with determination of the selection of with select hydrotesting of key site pipework. This will be augmented with electrical and control tests during throughout the first two weeks of May.

Wet commissioning is expected to begin at or around 18 May and we are pleased to be assisted in this by an experienced team led by OSL and Inspec. We continue to aim for a short wet commissioning programme and a target date of First Gas of 1 June. This would allow for one full month of production at current high spot prices before the Company’s obligations to deliver volumes at the hedge price commence at the end of June.

END.

Enquiries:

Angus Energy Plc

www.angusenergy.co.uk

George Lucan

Tel: +44 (0) 208 899 6380


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