Business
Corporate Update
Angus Energy PLC reported a first quarter 2026 update showing a circa 30% increase in production rates at Saltfleetby following successful workovers, with the field producing 471 million standard cubic feet of natural gas and 10,180 barrels of gas condensate, generating estimated revenues of £5.65 million. Gas sales reached 5.24 million therms, an increase from the previous quarter, while Brockham oil production was 4,114 barrels. The company is progressing its financial restructuring, which is expected to strengthen its balance sheet and liquidity, though trading in its shares on AIM remains suspended pending its conclusion. Disclaimer*
About this update from Angus Energy Plc
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN. 20 April 2026 Angus Energy PLC ("Angus Energy", the "Company" or together with its subsidiaries, the "Group") (AIM:ANGS) First Quarter 2026 Production, Operations, Corporate and Finance Update · c.30% increase in production rates at Saltfleetby following completion of the workovers. · Production from the Saltfleetby Field in the First Quarter of 2026 was 471 million standard cubic feet of natural gas and 10,180 barrels of gas condensate. · Gas sales of 5.24 million therms were achieved in the Quarter from the Saltfleetby Field. · Estimated revenues of £5.65m for the Quarter. · Production uplift driven by successful completion of Saltfleetby workovers. Production and Operations Update Saltfleetby Gas sales from the Saltfleetby Field totalled 5.24 million therms during January, February and March 2026, compared to 4.98 million therms in the fourth quarter of 2025, representing an increase of approximately 5%. This modest increase was driven by the successful completion of the Saltfleetby well workover programme but moderated by the impact of planned well shut-ins during January and February to facilitate the workover operations and therefore does not fully capture the circa 30% uplift in underlying production rates achieved post-completion. Average monthly gas sales for the quarter were 1.75 million therms, up from 1.66 million therms in Q4 2025. Gas condensate production averaged 111 barrels per day, an increase of approximately 32% compared to 84 barrels per day in the previous quarter. Operational efficiency remained robust at 87% notwithstanding the impact of workover interventions on two of the three producing wells over the period (Q4 2025: 94%). Successful Saltfleetby Well Workovers Coiled tubing operations were successfully completed on wells Saltfleetby-B2 and Saltfleetby-B7, including cleani...