Angus Energy PLC Update on Installation Schedule at Saltfleetby (4344J)
April 27 2022 - 2:00AM
UK Regulatory
TIDMANGS
RNS Number : 4344J
Angus Energy PLC
27 April 2022
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 AS IT
FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION
(WITHDRAWAL) ACT 2018 ("MAR"), AND IS DISCLOSED IN ACCORDANCE WITH
THE COMPANY'S OBLIGATIONS UNDER ARTICLE 17 OF MAR.
27 April 2022
Angus Energy Plc
("Angus Energy", "Angus" or the "Company")
Update on Installation Schedule at Saltfleetby
The Company updates on progress on its installation and
commissioning schedule. Delivery and installation dates remain
substantially unchanged with the bulk of the last skids arriving
shortly after the bank holiday weekend, although it is possible
that the Joule Thomson skid could be delayed to the following week
as a consequence of a potential delay in the delivery of an
accessory. All earlier packages, referred to in our RNS of 8 April
2022 are now being tied in.
Skid/Unit Basc Fabrication Blasting, Painting Target Delivery
Status Assembly, Testing, Date
Certification etc
Electrical Room 100% complete Completed Completed
----------------- -------------------- ----------------
Separator Vessel 100% complete Completed Completed
----------------- -------------------- ----------------
Passive Dehydration 100% complete Completed Completed
----------------- -------------------- ----------------
1(st) compression 100% complete Completed 27 April
----------------- -------------------- ----------------
Gas Engine Generator 100% complete 90% complete 29 April
----------------- -------------------- ----------------
Export Filters/Diverters 100% complete Re-assembly 3 May
----------------- -------------------- ----------------
Condensate Stabilisation 100% complete Reassembly 4 May
Skid
----------------- -------------------- ----------------
Joule Thomson 100% complete Re-assembly 5 May-10 May
Skid
----------------- -------------------- ----------------
The work of dry commissioning has begun with the identification
of key lines for initial hydrotesting and the development of
programme for some 40 tests. All welds are visible so testing is of
a relatively short duration.
Welding and electrical tie-in of these skids to the ring main of
pipework and cabling around the site are the immediate objectives.
Cable pull is expected over the next 5 working days and the ring
main of pipework is 80% complete. We have some 9 squads of welders,
riggers and fitters supported by platers and a number of electrical
specialists supporting tie in. The first stages of dry
commissioning are in progress with determination of the selection
of with select hydrotesting of key site pipework. This will be
augmented with electrical and control tests during throughout the
first two weeks of May.
Wet commissioning is expected to begin at or around 18 May and
we are pleased to be assisted in this by an experienced team led by
OSL and Inspec. We continue to aim for a short wet commissioning
programme and a target date of First Gas of 1 June. This would
allow for one full month of production at current high spot prices
before the Company's obligations to deliver volumes at the hedge
price commence at the end of June.
END.
Enquiries:
Angus Energy Plc www.angusenergy.co.uk
George Lucan Tel: +44 (0) 208
899 6380
Beaumont Cornish www.beaumontcornish.com
(Nomad)
James Biddle/ Roland Tel: +44 (0) 207
Cornish 628 3396
WH Ireland Limited
(Broker)
Katy Mitchell/ Harry Tel: +44 (0) 113
Ansell 394 6600
Flagstaff PR/IR angus@flagstaffcomms.com
Tim Thompson Tel: +44 (0) 207
129 1474
Fergus Mellon
Aleph Commodities info@alephcommodities.com
Notes
About Angus Energy plc
Angus Energy plc is a UK AIM quoted independent onshore Energy
Transition company with a complementary portfolio of clean gas
development assets, onshore geothermal projects, and legacy oil
producing fields. Angus is focused on becoming a leading onshore UK
diversified clean energy and energy infrastructure company. Angus
Energy has a 51% interest in the Saltfleetby Gas Field (PEDL005),
majority owns and operates conventional oil production fields at
Brockham (PL 235) and Lidsey (PL 241) and has a 25% interest in the
Balcombe Licence (PEDL244).
Important Notices
This announcement contains 'forward-looking statements'
concerning the Company that are subject to risks and uncertainties.
Generally, the words 'will', 'may', 'should', 'continue',
'believes', 'targets', 'plans', 'expects', 'aims', 'intends',
'anticipates' or similar expressions or negatives thereof identify
forward-looking statements. These forward-looking statements
involve risks and uncertainties that could cause actual results to
differ materially from those expressed in the forward-looking
statements. Many of these risks and uncertainties relate to factors
that are beyond the Company's ability to control or estimate
precisely. The Company cannot give any assurance that such
forward-looking statements will prove to have been correct. The
reader is cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
announcement. The Company does not undertake any obligation to
update or revise publicly any of the forward-looking statements set
out herein, whether as a result of new information, future events
or otherwise, except to the extent legally required.
Nothing contained herein shall be deemed to be a forecast,
projection or estimate of the future financial performance of the
Company.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or solicitation of any offer
to purchase, otherwise acquire, subscribe for, sell or otherwise
dispose of any securities or the solicitation of any vote or
approval in any jurisdiction. Any offer (if made) will be made
solely by certain offer documentation which will contain the full
terms and conditions of any offer (if made), including details of
how such offer may be accepted. This announcement has been prepared
in accordance with English law and the Code, and information
disclosed may not be the same as that which would have been
prepared in accordance with laws outside of the United Kingdom. The
release, distribution or publication of this announcement in
jurisdictions outside of the United Kingdom may be restricted by
laws of the relevant jurisdictions, and therefore persons into
whose possession this announcement comes should inform themselves
about, and observe, any such restrictions. Any failure to comply
with the restrictions may constitute a violation of the securities
law of any such jurisdiction.
Beaumont Cornish Limited, which is authorised and regulated in
the United Kingdom by the FCA, is acting as Nominated Adviser and
Financial Adviser to Angus and for no one else in connection with
any matter referred to in this announcement and will not be
responsible to anyone other than Angus for providing the
protections afforded to its clients nor for providing advice in
relation to any matters set out in this Announcement
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END
UPDBKABNABKDDQB
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