Angus Energy PLC (AIM: ANGS) reported third-quarter 2025 production from its Saltfleetby Field of 374 million standard cubic feet (mmscfd) of natural gas and 6,519 barrels of gas condensate, generating gas sales of 4.16 million therms.
Production from the Brockham Field totalled 3,632 barrels of crude oil during the quarter.
Third Quarter 2025 Production, Operations, Corporate and Finance Update
· Production from the Saltfleetby Field in the Third Quarter of 2025 was 374 million standard cubic feet of natural gas and 6,519 barrels of gas condensate.
· Gas sales of 4.16 million therms were achieved in the Quarter from the Saltfleetby Field.
· Legacy Hedges have rolled off, and Company recorded a hedging profit of £0.152m in the quarter.
· Annual maintenance shutdown completed without incident.
· The Brockham Field produced 3,632 barrels of crude oil during the Quarter.
· Estimated revenues of £3.21m for the Quarter.
· Production uplift due to improved well performance, improvements in well management, and optimisation of Booster Compressor operation with lower well head pressures.
Total estimated revenues for the period reached £3.21 million, supported by a 6.7% quarter-on-quarter increase in gas sales at Saltfleetby. Output at Brockham fell by 6.6% compared to the previous quarter.
The company also reported a £0.152 million hedging profit from legacy contracts rolling off, with 3,220 million therms hedged at an average price of £0.84 per therm.
Angus said the results reflect steady operational performance and improving gas market conditions as it continues to optimise output across its UK onshore assets.
Potential Acquisition by Reverse Takeover
Further to the announcement of 13 October 2025, the Company is continuing with its due diligence on the purchase of a group of producing assets located in the Gulf of America. The Board is meeting in the next week to agree whether or not to proceed with the transaction as currently structured. The Company will update the market accordingly in respect of any further developments.
Management Update
Further to the announcement of 11 July 2025, and as requested by Forum Energy Services Limited (“Forum”), Jonathan Tidswell-Pretorius was appointed as non-board Interim COO. After completing a review of the Company’s operations, Jonathan Tidswell-Pretorius has resigned to pursue other interests. On behalf of the Company the Board wishes to thank him for his guidance and efforts during this time.
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For further information please visit www.angusenergy.co.uk.
