viewAngus Energy PLC

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.

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: 0.88 GBX

Market: AIM
Market Cap: £5.32 m

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