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Angus Energy buys Alba's interest in Brockham Field

By Josh White

Date: Tuesday 15 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Angus Energy announced the acquisition of Alba Mineral Resources' 5% interest in the Brockham Field on Tuesday.
The AIM-traded firm said net consideration, after settlement of outstanding amounts and a contribution toward eventual abandonment costs, involved a payment to Angus from Alba of 38,400, settled by 6,400 in cash and 32,000 with 12,407,910 shares in Alba.

Those shares were issued at the 10-day volume-weighted average price of 0.2579p per share, representing around 0.20% of Alba's share capital.

"Seismic acquisition at Lidsey is complete and reprocessing of newly acquired and existing lines is underway," said managing director George Lucan.

"In line with our husbandry of legacy oil assets, this transfer aligns our interest in Lidsey and Brockham fields at 80% with identical partners in each Licence.

"It is the company's expectation that moderate oil production and the facility of water injection at Brockham, together with 9.7 million barrels of oil In place at Lidsey, will represent a good value proposition for shareholders, and for possible farminees, once seismic re-interpretation is complete and permissions are in place for a sidetrack at Lidsey."

At 1309 BST, shares in Angus Energy were up 1.47% at 0.76p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.


Angus Energy Market Data

Currency UK Pounds
Price 1.05p
Change Today 0.000p
52 Week High 1.35p
52 Week Low 0.60p
Volume 2,156,483
Shares Issued 1,093.09m
Market Cap 11.48m
Beta 0.15

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Angus Energy Dividends

No dividends found

Trades for 26-Jan-2022

Time Volume / Share Price
10:22 200,733 @ 1.09p
10:21 185,478 @ 0.99p
09:51 91,954 @ 1.09p
09:46 37,140 @ 0.99p
09:43 150,000 @ 1.01p

Angus Energy Key Personnel

Finance Director Carlos Dos Santos Fernandes