Operations and Finance Update

Angus Energy PLC

19 February 2026

 

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

19 February 2026

Angus Energy PLC

("Angus Energy", the "Company" or together with its subsidiaries, the "Group")

(AIM:ANGS)

Operations and Finance Update

·    Substantial increase in Saltfleetby production following completion of coil tubing operations.

·    Average daily production of approximately 6.3 mmscfd, over the last week, representing a circa 30% increase on Q4 2025 average daily production.

Production and Operations Update

Successful Completion of Well Workovers at Saltfleetby

Coil tubing operations at Saltfleetby-B7 and B2 have been successfully completed. The programme included perforation of a sections of the tubing, and cleaning and stimulation of the wells using an acid and mutual solvent treatment.

The wells are currently in the flowback phase, with gas, condensate and water returning to the production facility as expected. Operations were completed safely and without HSE incident, and all third-party contractors and equipment have now been demobilised.

Initial results are encouraging. Average total field production has been approximately 6.3 mmscfd, over the last week, representing an increase of circa 30% compared to the average daily production achieved during Q4 2025. As previously indicated, the wells require a period of clean-up following the workover and well performance will continue to be monitored over the coming months, but the Company is delighted with the initial results.

Balcombe

Following extended delays associated with the planning process at Balcombe, the Company intends to resubmit its planning application in due course and will provide further updates as appropriate

Finance Update

Further to previous announcements (most recently 22 January 2026), Angus Energy confirms that positive discussions with its creditors regarding restructuring of its debt remain ongoing. While the Board is encouraged in respect of the continued progress in these discussions, the Company cautions that if a suitable agreement is not reached, it would create a material uncertainty around the Company's ability to continue to operate as a going concern. The Company will inform the market once agreement has been reached and the terms of such agreement, and in the meantime continues to carefully manage its working capital position in conjunction with its lenders.

The Company's shares are expected to remain suspended from trading on AIM pending the conclusion of its financial restructuring.

Carlos Fernandes, Finance Director comments: "We are pleased with the initial results from the Saltfleetby workover programme. The operations were completed safely and efficiently, and the early production response is encouraging. We now look forward to the wells stabilising so that we can fully assess the benefits of the work undertaken.

"We are also encouraged by progress being made in our discussions with creditors on the financial restructuring."

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For further information please visit www.angusenergy.co.uk.

Angus Energy Plc                                                                

Carlos Fernandes

Finance Director                                                         Via Flagstaff

SP Angel Corporate Finance LLP (Nomad and Broker)     www.spangel.co.uk

Stuart Gledhill / Jen Clarke / Richard Hail Tel: [phone]

Flagstaff  PR/IR                                                                      [e-mail]

Tim Thompson / Fergus Mellon / Alison Alfrey   Tel: [phone]

About Angus Energy plc

Angus Energy plc is a UK AIM quoted independent oil and gas company. Angus Energy is the leading onshore gas producer in the UK and has ambitious plans to grow onshore production and diversify internationally. 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.  

 

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