Angus Energy PLC OGA Approves Angus for Balcombe Operatorship (7160O)
May 21 2018 - 5:17AM
UK Regulatory
TIDMANGS
RNS Number : 7160O
Angus Energy PLC
21 May 2018
21 May 2018
Angus Energy Plc
("Angus Energy" or the "Company")
OGA Approves Angus Energy for Balcombe Operatorship
New Joint Venture Formed Between
Angus Energy, Cuadrilla Balcombe Limited and Lucas Bolney
Limited
Final Regulatory Approval Completes Transaction
Angus Energy Plc, a conventional oil and gas production and
development company, is pleased to announce the UK Oil & Gas
Authority ("OGA") has approved the application from Cuadrilla
Balcombe Limited ("Cuadrilla") and Lucas Bolney Limited ("Lucas")
for the transfer of Operatorship under PEDL244, the Balcombe Field
Discovery, to Angus Energy Weald Basin No.3 Limited, a wholly owned
subsidiary of Angus Energy.
Subsequent to the Company's RNS's of 10 May and 22 January,
Angus Energy has now completed the transaction to form the new
Joint Venture with Cuadrilla and Lucas.
With this final approval, Angus Energy now assumes Operatorship
of the Balcombe Field Discovery on behalf of its newly formed
partnership. Angus Energy will conduct an approved 7 day well test
on the horizontal well at Balcombe before the end of the Q3/18. The
market will be updated in due course.
All operations at Balcombe will be performed through
conventional production. There will be no hydraulic fracturing or
"fracking".
END.
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) plus a 12.5% interest in the Holmwood licence
(PEDL143).
Further information is available on the company website:
www.angusenergy.co.uk
About Cuadrilla
Cuadrilla Resources is a Lancashire based company which is
leading the exploration for shale gas in the UK. It is acutely
aware of the responsibilities this brings, particularly with regard
to safety, environmental protection and working with local
communities.
For further information and media enquiries please call the
Cuadrilla press office on 0800 9012 494 or
press@cuadrillaresources.com or visit
www.cuadrillaresources.com
About Lucas Bolney Limited
Lucas Bolney Limited is a 100% subsidiary of AJ Lucas Group
Limited ("Lucas"). Lucas is a specialist service provider to the
energy, mining and infrastructure sectors. In each market, its
multi-disciplined teams have earned a reputation for innovative
solutions and reliable project delivery. For further details on
Lucas, please see the following link: www.lucas.com.au
Enquiries:
Angus Energy Plc
Jonathan Tidswell-Pretorius / Tel: +44 (0) 208 899 6380
Paul Vonk
--------------------------
Beaumont Cornish (NOMAD)
--------------------------
James Biddle/ Roland Cornish Tel: +44 (0) 207 628 3396
--------------------------
Optiva Securities Limited (BROKER)
--------------------------
Jeremy King/ Ed McDermott Tel: +44 (0) 203 137 1902
--------------------------
Yellow Jersey
--------------------------
Tim Thompson Tel: +44 (0) 203 735 8825
--------------------------
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
JVEABMLTMBBTMIP
(END) Dow Jones Newswires
May 21, 2018 05:17 ET (09:17 GMT)
Angus Energy (LSE:ANGS)
Historical Stock Chart
From Apr 2024 to May 2024
Angus Energy (LSE:ANGS)
Historical Stock Chart
From May 2023 to May 2024
