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Balcombe Oil Field Planning Application
Balcombe Oil Field Planning Application.
About this update from Angus Energy Plc
[{"type":"text","content":"\n \n \n RNS Number : 5089G\n Angus Energy PLC\n 17 March 2020\n \n \n \n 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.\n \n 17 March 2020\n \n Angus Energy Plc\n (\"Angus Energy\" or the \"Company\")\n \n Balcombe Oil Field Planning Application\n \n \n \n \n Angus Energy plc (AIM: ANGS) has been informed that the West Sussex County Council Planning Committee meeting of 24 March 2020 together with all meetings up to the end of April 2020 have been cancelled due to Covid-19.\n The Company has also been reviewing the Planning Officer's recommendation to West Sussex County Council Planning Committee. The recommendation of the Planning Officer is presently to decline the application based on interpretations of local and national requirements for hydrocarbons and whether these may be sufficient to justify a development of this kind in the High Weald Area of Oustanding Natural Beauty. \n We are pleased to use this delay as an opportunity to present further information to the Planning Officer which we believe may have a bearing on the final recommendation and decision.\n \n George Lucan, Managing Director, writes \"The delay and recommendation are both frustrating but by no means final and many options exist to reach a more satisfactory outcome. \n In terms of the impact on cashflow, the Balcombe project was forecast to result in cash outflow during calendar 2020 due to capital expenditures at the site. To the extent that the delay continues we shall have additional funds to direct to bringing Saltfleetby to first gas.\"\n \n \n Technical Sign off\n \n \n Andrew Hollis, the Technical Director of the Company, who has over 40 years of relevant experience in the oil and gas industry, has approved the information contained in this announcement. Mr Hollis is a Fellow of the Geological Society and member of the Society of Petroleum Engineers.\n \n \n END.\n \n \n Enquiries:\n \n \n \n \n \n Angus Energy Plc\n \n \n \n \n \n www.angusenergy.co.uk\n \n \n \n \n \n \n \n George Lucan\n \n \n \n \n Tel: +44 (0) 208 899 6380\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Beaumo...