Angus Energy reports it has raised £1.5m in a placing of 150 million ordinary shares.
Angus Energy is looking to borrow up to £12m to redevelop the Saltfleetby gas field in Lincolnshire.
Angus Energy has announced an agreement with a division of Royal Dutch Shell for gas production from Saltfleetby in Lincolnshire.
Plans by Angus Energy to install a new pipeline from its Saltfleetby gas site in Lincolnshire have been approved.
Angus Energy has said it intends to return to its Balcombe oil exploration site in West Sussex later this year.
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Angus Energy announced this morning it expected to submit a planning application next week for onsite gas processing at its Saltfleetby field in Lincolnshire.
Shares in Angus Energy rose this morning as the company announced it had taken out a £1.4m loan with a property company.
Production at Angus Energy’s Saltfleetby gasfield and oil flow at Balcombe would “mark a turnaround in the group’s fortunes” and bring “material cash flow for the first time”, the company said today.
DrillOrDrop’s round-up of the possible action on UK fracking and onshore oil and gas developments in 2020.