03 February
2025
Angus Energy
Plc
("Angus Energy", the
"Company" or together with its subsidiaries, the
"Group")
(AIM:ANGS)
Saltfleetby Field Booster
Compressor
Angus Energy (AIM: ANGS) is pleased
to announce that the booster compressor for the Saltfleetby Field
gas processing facility in Lincolnshire has been safely delivered.
The unit was manufactured in the USA and shipped to the UK,
arriving on site last week. It has been safely positioned on its
concrete plinth and the work to complete the installation process
is now underway. Commissioning and start-up of the new compressor
is still expected to occur before the end of the first quarter
2025.
The booster compressor supplements
the existing two compressors at Saltfleetby which operate to assist
in the separation of liquid hydrocarbons from the gas stream and to
pressure the field's sales gas for entry into the National Grid.
The new compressor will maintain inlet pressures into these two
compressors as reservoir and well head pressure declines with
depletion, increasing production levels in the short term and field
recovery over the life of the field.
Angus will notify Investors when the
Compressor is fully commissioned at Saltfleetby.
END
For further information on the
Company, please visit www.angusenergy.co.uk
or contact:
Enquiries:
Angus Energy
Plc
www.angusenergy.co.uk
Richard
Herbert
Chief Executive
Director
Via Flagstaff
SP Angel
Corporate Finance LLP
(Broker)
www.spangel.co.uk
Stuart Gledhill / Jen Clarke / Richard Hail
Tel: +44 (0)20 3470 0470
Flagstaff PR/IR
angus@flagstaffcomms.com
Tim Thompson / Fergus Mellon /
Alison Alfrey Tel: +44 (0) 207 129 1474
About Angus Energy plc
Angus Energy plc is a UK AIM quoted
independent onshore Energy Transition company with a complementary
portfolio of clean gas development assets, onshore geothermal
projects, and legacy oil producing fields. Angus is focused on
becoming a leading onshore UK energy infrastructure company. Angus
Energy has a 100% interest in the Saltfleetby Gas Field (PEDL005),
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). Angus Energy operates all fields in
which it has an interest.
Disclaimers - this
Announcement includes statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can
be identified by the use of forward-looking terminology, including
the terms "believes", "estimates", "forecasts", "plans",
"prepares", "anticipates", "projects", "expects", "intends", "may",
"will", "seeks", "should" or, in each case, their negative or other
variations or comparable terminology, or by discussions of
strategy, plans, objectives, goals, future events or intentions.
These forward-looking statements include all matters that are not
historical facts. They appear in a number of places throughout this
Announcement and include statements regarding the Company's and the
Directors' intentions, beliefs or current expectations concerning,
amongst other things, the Company's prospects, growth and strategy.
By their nature, forward-looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future
performance. The Company's actual performance, achievements and
financial condition may differ materially from those expressed or
implied by the forward-looking statements in this Announcement. In
addition, even if the Company's results of operations, performance,
achievements and financial condition are consistent with the
forward-looking statements in this Announcement, those results or
developments may not be indicative of results or developments in
subsequent periods. Any forward-looking statements that the Company
makes in this Announcement speak only as of the date of such
statement and (other than in accordance with their legal or
regulatory obligations) neither the Company, nor the Bookrunner nor
Beaumont Cornish nor any of their respective associates, directors,
officers or advisers shall be obliged to update such statements.
Comparisons of results for current and any prior periods are not
intended to express any future trends or indications of future
performance, unless expressed as such, and should only be viewed as
historical data.
Beaumont Cornish Limited, which is
authorised and regulated in the United Kingdom by the Financial
Conduct Authority, is acting as nominated adviser to the Company in
relation to the matters referred herein. Beaumont Cornish Limited
is acting exclusively for the Company and for no one else in
relation to the matters described in this announcement and is not
advising any other person and accordingly will not be responsible
to anyone other than the Company for providing the protections
afforded to clients of Beaumont Cornish Limited, or for providing
advice in relation to the contents of this announcement or any
matter referred to in it.
