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Angus Energy PLC (ANGS)

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Thursday 14 March, 2019

Angus Energy PLC

SPA signed regarding additional interest in Lidsey

RNS Number : 8062S
Angus Energy PLC
14 March 2019
 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) ("MAR"). THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

14 March 2019

Angus Energy Plc

("Angus Energy" or the "Company")

SPA signed for purchase of additional interest in Lidsey Field

 

 

Further to the previous announcement on 26 February 2018, Angus Energy plc (#ANGS) is pleased to announce that it has entered into a legally binding sale and purchase agreement ("SPA") with Doriemus Plc ("Doriemus") for the purchase of Doriemus's 20% interest in the Lidsey Oil Field Licence (including its 30% direct participating working interest in the Lidsey-X2 production well) ("Acquisition").  Pursuant to the SPA, the Acquisition is conditional upon regulatory and partner approvals.  Angus Energy has already submitted an application for approval of the Acquisition to the UK Oil & Gas Authority and is liaising with its partners in respect of their consent.

George Lucan, interim Managing Director, writes: "Angus is pleased to have consolidated its position in the Lidsey Field at a competitive non-cash price and looks forward to the future for this producing site. Work continues to evaluate possible upside in the existing structure and updates will be provided as this moves ahead."

  

END.

Enquiries:

Angus Energy Plc

www.angusenergy.co.uk

George Lucan

Tel: +44 (0) 208 899 6380


 


 


 


 

Beaumont Cornish (Nomad)

www.beaumontcornish.com

James Biddle/ Roland Cornish

Tel: +44 (0) 207 628 3396


 


 

WH Ireland Limited (Broker)


 

Katy Mitchell/ Harry Ansell

Tel: +44 (0) 113 394 6600


 


 

Yellow Jersey

[email protected]

Tim Thompson

Tel: +44 (0) 203 004 9512

Henry Wilkinson


 

 

Notes

About Angus Energy plc. Angus Energy plc. is a UK AIM quoted independent onshore oil and gas production and development company focused on leveraging its expertise to advance its portfolio of UK assets as well as acquire, manage and monetise select projects. Angus Energy 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) and a 12.5% interest in the Holmwood licence (PEDL143).

 


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