Angus Energy PLC (ANGS.L) Operations and Planning Update

Angus Energy (AIM: ANGS) has today submitted its application to Lincolnshire County Council relating to the 750 metre extension of the pipeline to the National Grid Terminal, remaining very close to our advised timetable on this.

The application continues to incorporate the use of Hydrogen-ready high-pressure pipework and the routeing of the line retains the optionality, as advised in our RNS of 1 May, to connect, via a further third party pipeline, to the refineries on the Humber should the opportunity present itself.

George Lucan, Managing Director, writes: “Progress continues despite the peculiar challenges presented by social distancing requirements.

Whilst we await review and determination of this and our earlier planning application for the upgrade of the main site, immediate elements on our critical path in the next six weeks will be the first year’s take-off contract and bid selection on key gas processing equipment. All the while detailed design continues apace on both pipeline and process facilities.”

Notes

About Angus Energy plc. Angus Energy plc. is a UK AIM quoted independent onshore oil and gas production and development company focused on leveraging its expertise to advance its portfolio of UK assets as well as acquire, manage and monetise select projects. Angus Energy majority owns and operates conventional oil production fields at Brockham (PL 235) and Lidsey (PL 241) and has a 25% interest in the Balcombe Licence (PEDL244) and a 12.5% interest in the PEDL143 Licence (A24 Prospect).

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