Saltfleetby Farmin Agreement

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.

28 January 2020

Angus Energy Plc

("Angus Energy" or the "Company")

Saltfleetby Farmin Agreement

Further to the announcement of 19 June 2019, Angus Energy plc (AIM: ANGS) is pleased to announce that all conditions precedent to the Farmin Agreement with Saltfleetby Energy Limited transferring a 51% share in the relevant blocks of PEDL005 Licence have been satisfied.  All parties having given assent to the Transfer of Licence, already approved by the Oil & Gas Authority, the Company has now entered into a Joint Operating Agreement with Saltfleetby Energy Limited to formalise ongoing operations.   

George Lucan, Managing Director, writes "Now that the legal formalities are completed, we look forward to progressing with reconnection and resuming production from the Saltfleetby Field."

END.

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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 and gas production fields at Brockham (PL 235) and Lidsey (PL 241) and Saltfleetby (PEDL005) and has a 25% interest in the Balcombe Licence (PEDL244) and a 12.5% interest in the PEDL143 Licence (A24 Prospect).