George Lucan gives a bit more depth to the Saltfleetby gas numbers and how the site is operating.
The process plant we have to get up to full speed, we are not in a rush, we will bring a second compressor on and hope to bring in to service the third well by year-end when the drilling is finished.
With two compresses and a third well, sidetrack due to start in four weeks or so, the future looks bright for the company.
Sidetrack is not there to win new resources short term, it is excelling the gas flow. The hedge runs out in July 2025, and slightly tails off in the later years.
The guys also cover the rest of the company portfolio.
In a previous interview, George was happy to say, here we are, an assembled plant, fully automated, what an achievement, almost all our suppliers are British, a great team effort. Right now we are not even scratching the surface, gas production will rise.
Major appointments to the board “sidetrack/second compressor to come online” stable flow rates, (P90 resources) sitting on 300m therms, Sidetrack/spudding set for mid-Oct Saltfleetby is putting gas directly into the National
Angus Energy, an independent offshore oil and gas company, is focused on developing its UK portfolio of assets. This includes the iconic project Saltfleetby (Lincolnshire), which now delivers gas to the National Grid.
Angus Energy is a tale of hard work and success. George Lucan, CEO of Angus Energy, inherited several different oil licenses in the Weald. He then transformed the company’s fortunes when he bought 51% of Saltfleetby which was once Britain’s most productive offshore gas field.
George raised the money over three years to bring Salfleetby to production. Now, in September 2022 Saltfleetby has started putting gas into National Grid. Angus is about to begin receiving regular revenue streams that will provide a foundation for future growth.
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