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Angus Energy set for AIM listing in late December

With Angus coming to market there will be SEVEN different Horse Hill stakeholders listed on AIM.

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Angus has 11.5% of Horse Hill, and controlling stakes in two producing fields

If you’re an investor in AIM-quoted oil stocks who wants another way to play the Horse Hill project, you’re in luck!

Because Angus Energy has today confirmed plans for a stock market listing.

With the AIM float, expected in late December, Angus joins fellow Horse Hill stakeholders UK Oil & Gas (LON:UKOG), Solo Oil (LON:SOLO), Doriemus (LON:DOR), Stellar Resources (LON:STG), Evocutis (LON:EVO) and Alba Minerals (LON:ALBA) in the ranks of listed companies.

The high profile Horse Hill project has been the subject of some lofty estimates (with oil-in-place said to in the billions of barrels) and plenty of conjecture.

It comprises a fairly straightforward convention oil discovery in the Portland reservoir, estimated to contain some 21mln barrels of oil, as well as a deeper and much more complicated ‘hybrid’ (a combination of convention and unconventional) play upon which the largest blue-sky estimates are based.

UKOG is already a shareholder with 5% in Angus, which is run by executive chairman Jonathan Eldred Tidswell-Pretorius (who himself owns 32.9% of the company) and managing director Paul Abram Vonk.

Jermyn Street-headquartered Angus has yet to confirm if it will be raising new equity through its AIM listing, or how much it might raise.

Angus has an 11.5% interest in the Horse Hill project, as well as other interests in the Weald basin in southern England.

It owns 60% of the producing Brockham field in Surrey, which is next door to Horse Hill, and 50% of the Lidsey field in West Sussex.

Quick facts: Angus Energy PLC

Price: 1.225 GBX

AIM:ANGS
Market: AIM
Market Cap: £6.63 m
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