Angus Energy Shares Soar After Announcement of Gas Supply Deal With Shell

By Jaime Llinares Taboada

Shares in Angus Energy PLC have jumped since the company announced an offtake agreement with Royal Dutch Shell PLC for all gas production from its Saltfleetby field in England on Wednesday.

Shares jumped 38% on Wednesday and closed at 1.175 pence. At 0803 GMT on Thursday shares were up a further 21%, or 0.25 pence, at 1.425 pence.

In addition, Angus said Thursday that it will submit an application for an extended well test at the Balcombe oil field in Crawley, England--where it has a 25% stake. The energy company noted that it won't use hydraulic fracturing techniques on any of the fields it operates, including Balcombe.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

August 13, 2020 04:31 ET (08:31 GMT)

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