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.
Shareholders in most UK onshore oil and gas companies could be forgiven for looking forward to the end of 2019.
Angus Energy has outlined plans for the Saltfleetby gas site in Lincolnshire after approval of its acquisition of a 51% stake.
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Angus Energy has raised a £1.5m loan facility to pay for the costs of decommissioning oil and gas wells.