Business
Progress Update at Saltfleetby
Progress Update at Saltfleetby.
About this update from Angus Energy Plc
[{"type":"text","content":"\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 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.\n \n \n \n \n \n \n \n \n \n \n \n 29 July 2022\n \n \n \n \n \n \n \n \n \n Angus Energy Plc \n \n \n \n \n (\"Angus Energy\", \"Angus\" or the \"Company\")\n \n \n \n \n Progress Update at Saltfleetby\n \n \n \n Angus Energy (AIM: ANGS) is pleased to announce the following progress update at its wholly owned Saltfleetby project: \n \n \n The commissioning sequence continues but has been delayed by issues arising from communication between different elements of the computer controls on site.\n \n \n These issues were substantially resolved last night by specialists engaged by the Company and its contractors such that we can now resume the commissioning sequence and move towards commercial production.\n \n \n As a precautionary measure, the Company has worked with its hedge provider to roll a portion of the Q3 2022 hedge into Q1 and Q2 of 2023. This has allowed the Company to take advantage of the very high forward gas prices and contango to lock a higher average forward sale price at no up-front cost to the Company.\n \n \n \n \n \n \n END.\n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n \n \n \n Angus Energy Plc\n \n \n \n \n \n \n \n www.angusenergy.co.uk\n \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 Beaumont Cornish (Nomad)\n \n \n \n \n \n \n \n www.beaumontcornish.com\n \n \n \n \n \n \n \n \n James Biddle/ Roland Cornish\n \n \n \n \n Tel: +44 (0) 207 628 3396\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n WH Ireland Limited (Broker)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Katy Mitchell/ Harry Ansell\n \n \n \n \n Tel: +44 (0) 113 394 6600\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Flagstaff PR/IR\n \n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n Tim Thompson\n \n \n \n \n Tel: +44 (0) 207 129 1474\n \n \n \n \n \n \n Fergus Mellon\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n A...