The operator of the Balcombe oil site in West Sussex has said it will submit a new planning application after permission lapsed last week.

In a statement to investors this morning, Angus Energy said:

“Following extended delays associated with the planning process at Balcombe, the Company intends to resubmit its planning application in due course and will provide further updates as appropriate.”

Planning permission expired on 13 February 2026 when Angus failed to meet a condition to begin work on a well test by the required deadline.

West Sussex County Council’s planning committee unanimously refused permission for the well test in March 2021.

But Angus Energy successfully appealed against the refusal in February 2023.

A condition of the planning permission required Angus to begin work on the test within three years of the appeal decision.

Debt restructuring

Angus also announced today that “positive discussions” “remain ongoing” with creditors on restructuring its debt.

But the company warned:

“While the Board is encouraged in respect of the continued progress in these discussions, the Company cautions that if a suitable agreement is not reached, it would create a material uncertainty around the Company’s ability to continue to operate as a going concern.”

Talks have been going on for nine months on restructuring the £20m loan, agreed with a subsidiary of the Trafigura Group two years ago (22 February 2024).

In early May 2025, Angus announced the first principal repayment of £1.25m had been deferred because of “production variability” at the Saltfleetby gas site in Lincolnshire.

Share trading was suspended on 19 May 2025.

The company said today:

“The Company’s shares are expected to remain suspended from trading on AIM pending the conclusion of its financial restructuring.”

Saltfleetby workovers

Angus Energy announced that workovers on two wells had been completed successfully at Saltfleetby, the UK’s largest onshore gasfield.

The company said “initial results are encouraging”.

The programme included perforation of sections of tubing, as well as cleaning and well stimulation.

Angus reported that total field production over the past week had been 6.3mmscfd (million standard cubic feet per day), an increase of about 30% on the average achieved during the final quarter of 2025.