Holmwood Update

RNS Number : 6401Z

Angus Energy PLC

04 September 2018

 

4 September 2018

Angus Energy Plc

("Angus Energy" or the "Company")

Holmwood Update

Angus Energy plc (LSE:ANGS), a conventional oil and gas production and development company, notes the following announcement made today by Europa Oil and Gas (Holdings) plc on behalf of the operator of the Holmwood Licence PEDL143, of which Angus Energy holds 12.5% interest:

"Europa Oil & Gas (Holdings) plc, the UK and Ireland focused oil and gas exploration, development and production company, announces that it has been notified by the Head of Estates at the Forestry Commission that the Minister for the Environment, Food and Rural Affairs, has decided not to renew the lease at Bury Hill Wood, Coldharbour Lane, Surrey.  Bury Hill Wood is the proposed site for a temporary exploration well to test the conventional Holmwood prospect on licence PEDL 143 in the Weald Basin, Surrey. The lease expires on 12th September 2018.

Following the Minister's decision, the Company, on behalf of its partners, will be withdrawing its planning application to drill the Holmwood prospect from the Bury Hill Wood site.

PEDL 143 has recently been extended until 30th September 2020, and in addition to the established Portland sandstone reservoir, contains the Kimmeridge Limestone which, following success at the nearby Horse Hill discovery, is an emerging play in the Weald Basin.  The Company, with its partners, intends to undertake a full evaluation of alternative sites from which to target the Holmwood prospect, and other plays in the licence." 

END.

Enquiries:

Angus Energy Plc	www.angusenergy.co.uk
Paul Vonk	Tel: [phone]
Stockdale Securities Limited (Nomad and Broker)	www.stockdalesecurities.com
Robert Finlay / Richard Johnson / Ed Thomas	Tel: [phone]
Yellow Jersey	www.yellowjerseypr.com
Tim Thompson	Tel: [phone]

 

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