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Angus Energy Submits Field Development Plan for Saltfleetby Gas Field

Source: www.gulfoilandgas.com 12/20/2019, Location: Europe

Angus Energy plc is pleased to update its presentation on the above Field following the submission of our Field Development Plan to the Oil & Gas Authority. A copy of the presentation is available from the Company’s website, www.angusenergy.co.uk and terms herein are more fully explained in the presentation.

In advance of the Competent Persons Report expected to be completed in January 2020 we have not updated figures for volumes or cash flows but, as stated in the presentation, we expect these to be at least as good as those announced therein if not better and will update shareholders as more granular figures can be given on upside.

George Lucan, Managing Director, writes: “Progress continues to be made on this reconnection of what was formerly the UKs largest onshore gas field. There are some considerable technical challenges which our team here are in the process of meeting and overcoming. We remain certain that, as advised, the prize for this very attractively priced opportunity will result in considerable value for Shareholders."

Technical Sign off
Andrew Hollis, the Technical Director of the Company, who has over 40 years of relevant experience in the oil and gas industry, has approved the information contained in this announcement. Mr Hollis is a Fellow of the Geological Society and member of the Society of Petroleum Engineers.

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