16th Jul 2019 11:33
(Alliance News) - Angus Energy PLC on Tuesday announced a number of management changes, including a new head of all UK operations, Mike Wells.
Wells, who will not be joining the board, began his career at BP PLC and has worked on "many" UK projects, including the original exploration wells at the Brockham field. Angus has assets on Brockham field though it is considering selling following some disappointing test results.
Jonathan Tidswell-Pretorius has resigned as a director of three subsidiaries, and has been replaced in all three roles by Andrew Hollis, who currently serves as Angus's technical director.
Tidswell-Pretorius will continue to work with the company in a business development capacity, however.
He is a former executive chair of Angus, but left in July 2018 after Angus started an investigation into potential share dealing violations.
Elsewhere, Wingas UK Storage Ltd has paid GBP2.5 million to Angus for a 51% farm-in on the Saltfleetby field, which will allow Angus to start working on reconnecting the field to the national grid.
Angus took the 51% stake in Saltfleetby in June. The field has been operating on and off over the last 20 years, and Angus hopes work can be finished during the summer of 2020.
Angus shares were 37% higher on Tuesday morning at 1.65 pence each.
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