· 所有操作均未对人员或环境造成任何危害
· 六个月的 EBITDA 为 694.3 万英镑
· 增压压缩机成功安装

Angus Energy 很高兴地宣布其截至 2025 年 3 月 31 日的六个月中期账目，如下所示。中期账目的副本可在公司网站 www.angusenergy.co.uk 上查阅。

董事长致辞

尊敬的股东，

我很高兴与大家分享截至 2025 年 3 月 31 日的六个月中期业绩。首先，在 Richard Herbert 于本期结束后提出辞职后，董事会要感谢他为带领公司度过发展转型时期所做出的奉献和努力。

尽管增压器的安装有所延迟，但公司本期报告的 EBITDA 仍然强劲。董事会仍然致力于释放我们资产基础和企业平台中蕴藏的巨大潜力。我们的目标是使公司能够更好地抵御短期波动，同时为可持续的长期增长奠定基础。

所有运营均未对人员或环境造成任何损害。我们还积极主动地寻求有机增长和无机增长机会。在有机增长方面，我们的技术团队已在现有产品组合中确定了一系列有助于提高产量和现金流的近场开发和优化目标。同时，我们的并购团队仍在积极评估那些能够增值、符合战略目标并能加速我们转型的潜在交易。

为配合这些举措，公司目前正在评估一项潜在的反向收购 (RTO) 交易。因此，根据监管要求，我们的股票交易已暂停。我们还在与托克集团就重组现有债务融资进行积极磋商。虽然我们理解这可能会在短期内给股东带来不确定性，但我们相信，正在考虑的反向收购以及目前正在考虑的其他并购机会，可以通过增加储量产量和现金流，显著增强和扩大我们的运营版图，并开辟一条通往增长和股东价值重塑的道路。目前，有关反向收购的讨论尚处于初期阶段。公司已签署一项非约束性协议，该协议的签署取决于尽职调查、融资和其他重要事项的完成，目前尚不确定该协议是否能够完成。

我们深知自己对股东和利益相关者的责任，我向各位保证，我们将尽一切努力帮助安格斯度过这段过渡期。董事会坚信，凭借严谨的纪律和战略重点，我们能够变得更加强大，更好地利用未来的机遇。

本季度油气生产的净收入为 1130.2 万英镑，总产量为 17,361 桶凝析油、3,695 桶原油和 1044.3 万千卡天然气，而本季度的套期保值量为 750 万千卡。这是 Saltfleetby 气田和 Brockham 油田生产的结果。本季度凝析油平均售价为每桶 35.18 英镑，原油平均售价为每桶 57.58 英镑，天然气平均售价为每千卡 1.00 英镑。

集团实现利润 75.6 万英镑，其中包括营业利润 336.7 万英镑。本季度的 EBITDA 为 694.3 万英镑。衍生品利润基于未来产量，并使用截至2025年3月31日的远期天然气价格计算。衍生品将在衍生工具项下的付款到期时实现损益。

运营亮点

Saltfleetby（100% 工作权益）

本期间 Saltfleetby 气田的天然气产量和销量总计 10.443 百万千卡，而本期间的套期保值量为 7.5 百万千卡。本期间运营效率为 90%。本期间凝析油（液）产量为 17,361 桶。

Saltfleetby气田的新增压压缩机于2025年4月11日投入运行。该压缩机的吸入压力低于气田现有的两台压缩机，从而允许油井进一步降低压力，并有助于缓解油井积液的影响。过去三个月，积液对气井流量的影响日益显著。与未启用增压压缩机时的平均产量预测相比，增压压缩机的引入使产量提高了约15%。

安格斯一直在进行油井测试，以确定工厂和油井的最佳配置，以提高产量。油井测试发现了一些井筒内增产机会，目前正在推进最终投资决定 (FID)。这些机会计划于 2025 年第三季度完成，包括提高产量所需的连续油管修井。

未来钻井

：基于 2023 年完成的地震数据再处理和重新测绘工作，我们在 Saltfleetby 气田的威斯特伐利亚砂岩和下伏的纳穆里安储层中建立了一个地质单元动态储层模型。该储层模型使我们对储层特性和储层内流体流动有了更深入的了解，并已用于确定多个加密钻井机会。此外，该储层模型对于 Saltfleetby 气田的长期规划的推进至关重要，该规划旨在将 Saltfleetby 气田建设为未来在天然气生产结束时用于储存二氧化碳、天然气或氢气的设施。

安格斯正在评估一口已获得监管部门全面批准的新井的钻探，此举将为油田增加第四个生产井，以加快产量并增加股东价值。该井处于初步设计阶段，目标钻探日期为 2026 年第一季度，但取决于资金和长周期项目的交付时间。目标钻探日期将允许在 2026 年第二季度增加 2 至 6 百万立方英尺/天的油田产量。

布罗克汉姆（80% 工作权益）

在此期间，布罗克汉姆油田的总石油销量为 3,695 桶，平均每天 24 桶。该公司通过提高运营效率不断优化石油产量，目前油田的总产量约为 40 桶/天。将继续监测产量，并正在进行评估以确定是否可以将悬浮补偿井 BRX4Z 投入商业生产，以提高波特兰油藏的采收率。

Balcombe（25% 工作权益）

继 2018 年秋季进行为期 7 天的初始试井后，公司于 2019 年底提交了一份规划申请，要求对 Balcombe-2Z 井进行为期 3 年的试井。计划作业的目的是回收井筒中剩余的钻井液，并进行长期延长的试井，以表明该油井和油田能够以商业速率生产碳氢化合物的程度。规划督察局于 2023 年 10 月决定授予该公司测试现有油井的权利，但居民组织不服，并于 2025 年 1 月 26 日和 27 日开庭审理。高等法院的裁决于 2025 年 4 月 16 日公布，并裁定该公司胜诉。该公司目前正在评估延长试井的方案。

利德西（80% 工作权益）

由于污水处理成本高昂，利德西油田目前仍处于关闭状态。然而，如前所述，已提交规划申请，允许将采出水输送至布罗克汉姆油田进行空隙置换和压力维持。该申请现已获批，我们正在等待正式审批。收到申请后，公司将开展井的完整性测试，为未来生产做好准备，确认目前安装的人工举升装置的可操作性，并确定X2井的恢复生产潜力。这项作业成本低廉，如果成功，将允许将采出水用卡车运至布罗克汉姆油田进行注水，从而恢复现场生产。

财务摘要

2025 年 3 月 19 日，公司以每股 0.02 便士的价格向 Forum Energy Services Limited 发行了 427,893,123 股普通股，涉及 1,000,000 英镑的递延对价，该对价基于 2025 年 2 月 22 日收到的转换通知。公司还就截至 2024 年 12 月 31 日的递延对价应计利息额外发行了 137,145,481 股。

根据现有安排和计算方法，公司需总计发行 368,376,672 股股份（或现金等价物）以结算 2024 年第二季度、第三季度和第四季度以及 2025 年第一季度的特许权使用费权益。Angus 目前正在与特许权使用费权益持有人协商结算时间，并将提供相应更新信息。

安格斯能源公司于2024年2月22日宣布，与托克集团私人有限公司（简称“托克”）的一家子公司签订了一项融资协议。该协议的条款与公司于2023年12月20日通过RNS汇总的条款清单中的条款相同，为一笔5年期贷款，本金偿还享有12个月的宽限期，之后自2025年3月起大致均等地摊销。由于2025年第一季度增压压缩机投入使用前的生产波动，导致首笔125万英镑的本金偿还被推迟，这是由于公司与托克就重组还款计划的持续谈判。

截至2025年3月31日，集团持有现金78.5万英镑。

2025年6月19日，公司宣布理查德·赫伯特已辞去公司首席执行官和董事职务，该辞呈立即生效。

展望：

公司期待在Saltfleetby项目稳定和优化生产的同时，提供债务重组的最新进展。

与此同时，公司将继续推进有机和无机增长机会，我们期待随着计划的进展向股东通报最新进展。

此致，

· All operations were conducted without any harm to people or the environment
· EBITDA of £6.943m for the six month period
· Booster compressor successfully installed

Angus Energy is pleased to announce its interim accounts for the six months ended 31 March 2025 as set out below. A copy of the Interims is available on the Company's website www.angusenergy.co.uk

Chairman's Statement

Dear Shareholders,

I am pleased to share with you the interim results for the six months ended 31 March 2025. First, following his resignation, tendered after the period end, the Board would like to thank Richard Herbert for his dedication and hard work in taking the Company through what has been a transformative time in its development.

Despite delays to the installation of the Booster, the Company reported strong EBITDA for the period. The Board remains committed to unlocking the significant potential embedded in our asset base and corporate platform. Our goal is to position the Company to better weather near-term volatility while laying the foundation for sustainable long-term growth.

All operations were conducted without any harm to people or the environment. We have also taken proactive steps to pursue both organic and inorganic growth opportunities. On the organic front, our technical teams have identified a number of near-field development and optimization targets within our existing portfolio that is needed to enhance production and cash flow. Concurrently, our M&A team remains active in evaluating potential transactions that are value-accretive, strategically aligned, and capable of accelerating our transformation.

In line with these efforts, the Company is currently assessing a potential reverse takeover (RTO) transaction. As a result, trading in our shares has been temporarily suspended in accordance with regulatory requirements. We are also engaged in active discussions with Trafigura on the restructuring of our existing debt facility. While we understand this may cause uncertainty for shareholders in the short term, we believe the RTO under consideration, along with other M&A opportunities currently under consideration, could significantly strengthen and expand our operational footprint by increasing reserves production and cashflow, and create a path toward growth and renewed shareholder value. At present, discussions pertaining to the RTO are at an early stage. The Company has signed a non-binding agreement which is subject to completion of due diligence, financing and other material considerations and there is no certainty that it will be completed.

We are mindful of the responsibility we owe to our shareholders and stakeholders, and I want to assure you that every effort is being made to steer Angus through this period of transition. The Board remains confident that, with discipline and strategic focus, we can emerge stronger and better positioned to take advantage of the opportunities ahead.

Net revenue from oil and gas production during the period was £11.302m on gross production of 17,361 bbls of gas condensate, 3,695 bbls of crude oil and 10.443 mm therms of natural gas as against hedged volumes of 7.5 mm therms for the period. This was the result of production from the Saltfleetby Gas Field and the Brockham Oil Field. Average sales prices achieved during the period were £35.18/bbls for gas condensate, £57.58/bbls for crude oil and £1.00/therm for natural gas.

The Group recorded a profit of £0.756m, which included an operating profit of £3.367m. EBITDA for the period was £6.943m. The derivative profit is based on future production and calculated using forward gas prices as at 31 March 2025. The derivative will be realised to a profit or loss when the payments under the derivative instruments become due.

Operational Highlights

Saltfleetby (100% Working Interest)

Gas volumes produced and sold from the Saltfleetby Field equalled 10.443 mm therms in aggregate for the period as against hedged volumes of 7.5 mm therms for the period. Operational efficiency was 90% for the period. Gas condensate (liquid) production was 17,361 bbls for the period.

The new booster compressor at the Saltfleetby Gas Field commenced operation on 11 April 2025. The compressor operates at a lower suction pressure than the two existing compressors at the field, allowing more pressure drawdown of the wells and helping to alleviate the impact of liquid loading in the wells, which has been increasingly impacting gas flow rates in the last three months. The introduction of the booster compressor has resulted in a circa 15% increase in production compared with the average production forecasts without the booster operational.

Angus has been conducting well tests to determine the optimum configuration of the plant and wells to increase production. Well tests identified a number of in-wellbore production enhancement opportunities which are being progressed to FID ("Final Investment Decision"). These opportunities, targeted for Q3 2025, include coil tubing workovers which are necessary to enhance production.

Future Drilling

Building on the seismic reprocessing and remapping work completed in 2023, a geocellular, dynamic reservoir model has been constructed across the Westphalian Sandstone and underlying Namurian reservoir at the Saltfleetby Gas Field. The reservoir model gives us a greater understanding of the reservoir properties and fluid flow within the reservoir and in turn has then been used to identify several infill drilling opportunities. Additionally, this reservoir model will be fundamental in the progression of the long-term plan for the Satlfleetby field as a future storage facility for CO2, Natural Gas or Hydrogen at the end of gas production.

Angus is evaluating the drilling of a new well which has received full regulatory approval, adding a fourth producer to the field to accelerate production and increase shareholder value. The well is in the preliminary design phase with a target drilling date of Q1 2026, subject to funding and pending delivery time for long lead items. The target drill date would allow for 2 and up to 6 mmcf/d of incremental field production in Q2 2026.

Brockham (80% Working Interest)

Gross oil volumes sold from the Brockham Field equalled 3,695 barrels in aggregate for the period, an average of 24 bopd. The Company has continued optimization of oil production through improvements in operational efficiency and the field is currently producing at circa 40 bopd gross. Production will continue to be monitored, and an assessment is being undertaken to determine if BRX4Z, a suspended offset well, can be commercially brought into production to increase recovery from the Portland reservoir.

Balcombe (25% Working Interest)

Following the initial 7-day well test in the Autumn of 2018, a planning application was submitted in late 2019 for a longer 3-year well test on the Balcombe-2Z well. The aim of the planned operation is to recover remaining drilling fluids from the wellbore and conduct a long-term extended well test to indicate to what degree the well and field can produce hydrocarbons at a commercial rate. The Planning Inspectorate's decision in October 2023 to grant the Company the right to test the existing well, was appealed by a residents' organization and heard in court on the 26th and 27th of January 2025. The decision of the High Court was made public on 16 April 2025 and ruled in favour of the Company. The Company is now evaluating options for the extended well test.

Lidsey (80% Working Interest)

Due to the high cost of water disposal, Lidsey has remained shut in, however, as previously stated, a planning application has been submitted to allow for transportation of produced water off-site to the Brockham oil field for voidage replacement and pressure maintenance. This application has now been approved, and we are awaiting imminent formal validation. Once received, the Company will progress to test the integrity of the well in readiness for future production, confirm the operability of the currently installed artificial lift, and establish the re-instatement production potential of the X2 well. This is low-cost operation, and if successful, it will allow for the reinstatement of the site with produced water trucked to Brockham for injection.

Financial Highlights

On 19 March 2025, the Company issued 427,893,123 Ordinary Shares at 0.02 pence per share to Forum Energy Services Limited in relation to a £1,000,000 Deferred Consideration based on a conversion notice received on 22 February 2025. The Company also issued a further 137,145,481 in relation to accrued interest on the Deferred Consideration up to 31 December 2024.

Under existing arrangements and calculation methods the Company is required to issue 368,376,672 shares (or cash equivalent) in aggregate in settlement of the Q2, Q3 and Q4 2024 and Q1 2025 royalty interest. Angus is currently negotiating the timing of the settlement with the royalty interest holders and will provide an update accordingly.

As announced on 22 February 2024, Angus Energy entered into a Financing Facility with a subsidiary of Trafigura Group PTE Ltd ("Trafigura"). The terms of the Facility are unchanged from those of the term sheet summarised by the Company via RNS on 20 December 2023, being a 5-year loan, with a twelve-month grace period on principal repayment and then approximately even amortisation from March 2025. Production variability during the first quarter of 2025, before the booster compressor was commissioned, has resulted in the first principal repayment of £1.25 million, being deferred as part of ongoing discussions with Trafigura about restructuring the repayment schedule.

As at 31 March 2025 the Group had cash of £0.785m.

On 19 June 2025, the Company announced that Richard Herbert had tendered his resignation as CEO and a director of the Company with immediate effect.

Outlook

The Company looks forward to providing an update on the restructuring of its debt arrangements alongside the stabilisation and optimisation of production as Saltfleetby.

In parallel the Company continues to progress both organic and inorganic growth opportunities and we look forward to updating shareholders as our plans progress.

With kind regards,