Angus Energy PLC Saltfleetby Flow Rates (9737Y)
September 09 2022 - 7:47AM
UK Regulatory
TIDMANGS
RNS Number : 9737Y
Angus Energy PLC
09 September 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 6/2014 AS IT FORMS
PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH
THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.
9 September 2022
Angus Energy Plc
("Angus Energy", "Angus" or the "Company")
Saltfleetby Flow Rates
Angus Energy (AIM: ANGS) is pleased to announce that
transmission specification gas quality has been comfortably
achieved by the plant in its 24/7 operations since First Gas.
The Company has achieved flow rates from well A4 of 4 mmscf/d
(million standard cubic feet per day) at approximately 55 bar and
well over 4.5 mmscf/d from well B2 at approximately 45 bar which,
taken together, greatly exceed the 2017 combined shut-in rate of 5
mmscf/d from those wells as advised in the Company's presentation
of December 2019 and in subsequent communications.
The Company has been running the process plant at an effective
throughput of 3.3 mmscf/d on average for the last three days which
has steadily risen from 0.5 mmscf/d at the beginning of operations.
Adjusting for short outages resulting from resolving typical
commissioning "trip" issues, the plant is evidencing a current
capacity to process gas of 4.6 mmscf/d, which would comfortably
meet the Company's hedge obligations for September.
Our aim is to raise this process capacity, and reduce the
incidence of commissioning trips, such that in the coming days the
plant will reach a minimum steady state of 5.5 mmscf/d or greater
which would again comfortably meet the Company's hedge obligations
for Q4. To that end we continue to increase engine speed and
utilise more natural well head pressure. Additionally, stabilised
condensate production has started at circa 50 barrels per day.
The Company intends to advise production figures, together with
an update on the installation of the second compressor, at the end
of this month and thereafter the Company expects to report
production figures quarterly.
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 Tel: +44 (0) 207 628
Cornish 3396
WH Ireland Limited
(Broker)
Katy Mitchell/ Harry Tel: +44 (0) 113 394
Ansell 6600
Flagstaff PR/IR angus@flagstaffcomms.com
Tim Thompson Tel: +44 (0) 207 129
1474
Fergus Mellon
Aleph Commodities info@alephcommodities.com
Notes
About Angus Energy plc
Angus Energy plc is a UK AIM quoted independent onshore Energy
Transition company with a complementary portfolio of clean gas
development assets, onshore geothermal projects, and legacy oil
producing fields. Angus is focused on becoming a leading onshore UK
diversified clean energy and energy infrastructure company. 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.
Important Notices
This announcement contains 'forward-looking statements'
concerning the Company that are subject to risks and uncertainties.
Generally, the words 'will', 'may', 'should', 'continue',
'believes', 'targets', 'plans', 'expects', 'aims', 'intends',
'anticipates' or similar expressions or negatives thereof identify
forward-looking statements. These forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those expressed in the forward-looking
statements. Many of these risks and uncertainties relate to factors
that are beyond the Company's ability to control or estimate
precisely. The Company cannot give any assurance that such
forward-looking statements will prove to have been correct. The
reader is cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
announcement. The Company does not undertake any obligation to
update or revise publicly any of the forward-looking statements set
out herein, whether as a result of new information, future events
or otherwise, except to the extent legally required.
Nothing contained herein shall be deemed to be a forecast,
projection or estimate of the future financial performance of the
Company.
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCUPUACBUPPGGB
(END) Dow Jones Newswires
September 09, 2022 07:47 ET (11:47 GMT)
Angus Energy (LSE:ANGS)
Historical Stock Chart
From Jul 2024 to Aug 2024
Angus Energy (LSE:ANGS)
Historical Stock Chart
From Aug 2023 to Aug 2024