Finance Update
Further to the announcement of 21 July 2025, Angus Energy has confirmed that the Company and Trafigura have agreed non-binding terms to restructure its debt subject to final agreement on new covenants, and subject to agreeing revised terms with the Overriding Royalty Interest holders ('ORRI') and the Deferred Consideration owed to Forum Energy Services Ltd. Full details will be announced in the coming weeks.
The restructuring is expected to provide a stable financial platform to support future operations and deliver long-term shareholder value. By consolidating and refinancing existing debt facilities, the Company will be better positioned to raise new capital in support of organic growth, increased production, and potential M&A activity. The Company is benefitting from higher oil and gas prices and continues to carefully manage its working capital position in conjunction with its lenders.
Potential Acquisition by Reverse Takeover
Further to the announcement of 19 May 2025, the Company is continuing with its due diligence on the purchase of a group of producing assets located in the Gulf of America. The Board is meeting in the coming weeks to agree whether or not to proceed with the transaction. The Company will update the market accordingly.
Source: Angus Energy
