- Substantial increase in Saltfleetby production following completion of coil tubing operations.
- Average daily production of approximately 6.3 mmscfd, over the last week, representing a circa 30% increase on Q4 2025 average daily production.
Production and Operations Update
Successful Completion of Well Workovers at Saltfleetby
Coil tubing operations at Saltfleetby-B7 and B2 have been successfully completed. The programme included perforation of a sections of the tubing, and cleaning and stimulation of the wells using an acid and mutual solvent treatment.
The wells are currently in the flowback phase, with gas, condensate and water returning to the production facility as expected. Operations were completed safely and without HSE incident, and all third-party contractors and equipment have now been demobilised.
Initial results are encouraging. Average total field production has been approximately 6.3 mmscfd, over the last week, representing an increase of circa 30% compared to the average daily production achieved during Q4 2025. As previously indicated, the wells require a period of clean-up following the workover and well performance will continue to be monitored over the coming months, but the Company is delighted with the initial results.
Balcombe
Following extended delays associated with the planning process at Balcombe, the Company intends to resubmit its planning application in due course and will provide further updates as appropriate
Finance Update
Further to previous announcements (most recently 22 January 2026), Angus Energy confirms that positive discussions with its creditors regarding restructuring of its debt remain ongoing. While the Board is encouraged in respect of the continued progress in these discussions, the Company cautions that if a suitable agreement is not reached, it would create a material uncertainty around the Company's ability to continue to operate as a going concern. The Company will inform the market once agreement has been reached and the terms of such agreement, and in the meantime continues to carefully manage its working capital position in conjunction with its lenders.
The Company's shares are expected to remain suspended from trading on AIM pending the conclusion of its financial restructuring.
Carlos Fernandes, Finance Director comments: 'We are pleased with the initial results from the Saltfleetby workover programme. The operations were completed safely and efficiently, and the early production response is encouraging. We now look forward to the wells stabilising so that we can fully assess the benefits of the work undertaken.
'We are also encouraged by progress being made in our discussions with creditors on the financial restructuring.'
Source: Angus Energy
