Angus Energy announces SPA for purchase of 20% interest in Lidsey License

3/14/2019

LONDON -- Angus Energy has announced that it has entered into a legally binding sale and purchase agreement with Doriemus Plc for the purchase of Doriemus's 20% interest in the Lidsey oilfield License (including its 30% direct participating working interest in the Lidsey-X2 production well). Lidsey field is in the UK's Weald basin.

Pursuant to the SPA, the acquisition is conditional upon regulatory and partner approvals. Angus Energy has already submitted an application for approval of the Acquisition to the UK Oil & Gas Authority and is liaising with its partners in respect of their consent.

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