Angus Energy said this morning it had received at least six “bona fide” approaches from parties interested in making an offer for the company or its interest in the Saltfleetby gas field.
In a statement to investors, the company said it was not naming the parties but it would “engage with and evaluate each expression of interest” until a firm proposal could be agreed and announced.
Angus said it did not expect the parties would need “an extended period of time” to complete due diligence.
The company announced the potential sale on 6 January 2022.
As well as Saltfleetby in Lincolnshire, Angus operates oil sites at Balcombe and Lidsey in West Sussex and Brockham in Surrey. None is currently producing.
Chief executive, George Lucan, said:
“We are pleased with the expressed level of interest in the Company or in its principal asset, and will proceed with our formal sales process with due professionalism, expediency and confidentiality to achieve the best possible result for all of Angus’ shareholders.”
At the time of writing (9.30am), Angus shares had risen 17% to 1.19p.