Angus Energy PLC has released its interim accounts for the six months ended 31 March 2024, highlighting an increase in gas production year on year and an EBITDA of £6.937m. The company has successfully refinanced its existing debt with Trafigura Group PTE Ltd, providing financial stability. Additionally, the restart of production at Brockham marks the beginning of the company's focus on organic and inorganic growth opportunities.
Angus Energy is a UK AIM quoted independent onshore Energy Transition company with a portfolio of clean gas development assets, onshore geothermal projects, and legacy oil producing fields. The company operates the Saltfleetby Gas Field (PEDL005), conventional oil production fields at Brockham (PL 235) and Lidsey (PL 241), and has a 25% interest in the Balcombe Licence (PEDL244).
The Chairman's statement expressed satisfaction with the production increase and strong EBITDA, as well as the successful refinancing and restart of production at Brockham. The company emphasized that all operations were conducted without harm to people or the environment.
The company's forward-looking statements include its intentions, beliefs, or current expectations concerning its prospects, growth, and strategy. It is noted that forward-looking statements involve risks and uncertainties and are not guarantees of future performance. Beaumont Cornish Limited is acting as the nominated adviser to the company.
For further information, the interim accounts are available on the company's website.