ANGUS ENERGY PLC LS-,002

Since 24 June Angus Energy has repaid £5.241 million of debt, fully eliminating the ORRI liability. The company also made a one‑off repayment of £1.996 million on the senior credit facility with Trafigura, reducing the outstanding balance to around £22.7 million. Management said future proceeds from cash‑sweeps will be used to further reduce the Trafigura facility. » More on de.investing.com

Angus Energy has appointed Ross Pearson as chief operating officer and executive director with immediate effect. Pearson had served since October 2023 as Director of Wells and Subsurface and was responsible for the technical team, capital expenditure budget and drilling and workover programmes. In his new role he will lead operations, engineering and HSE and will work closely with the finance director on capital allocation, strategy and investor relations; following the latest equity raise he holds 12,500,000 ordinary shares (0.16%). » More on de.investing.com

Angus Energy recorded a decline in gas and gas condensate production at the Saltfleetby field in the second quarter of 2025, leading to lower revenues. However, oil production at the Brockham field increased significantly, and the company expects improved cash flow in the coming quarters due to higher hedged gas prices. Repayment to Trafigura has been postponed, and discussions about adjusting the payment schedule are ongoing. » More on de.investing.com