THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE MARKET ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

14 May 2024

Angus Energy Plc

("Angus Energy", the "Company" or together with its subsidiaries, the "Group")

(AIM:ANGS)

Overriding Royalty Interest Payment and TVR

ORRI Payment

As previously announced on 22 February 2024, Angus Energy will settle its March 2024 royalty or ORRI ("Overriding Royalty Interest") payments on Saltfleetby Field production in shares.

The Company will now issue a total of 27,448,470 Ordinary Shares to the ORRI holders (the "ORRI Shares") at a price of 0.3544 pence each, being a 15% discount to the 30-day VWAP as at 26 April 2024, representing a value of £97,277.07.

Admission to trading on AIM

Application has been made to the London Stock Exchange for admission of the ORRI Shares to trading and it is expected that admission will become effective and dealings in the ORRI Shares will commence at 8.00 a.m. on 15 April 2024 ("Admission").

Following the issue of the ORRI Shares, the Company will have 4,421,854,810 Ordinary Shares in issue, each share carrying the right to one vote.  The Company does not hold any Ordinary Shares in treasury.

Following Admission of the ORRI Shares, the above figure of 4,421,854,810 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

END

For further information on the Company, please visit www.angusenergy.co.uk or contact:

Enquiries:

Angus Energy Plc                                                                             www.angusenergy.co.uk

Richard Herbert               

Chief Executive Director                                                                               Via Flagstaff

Beaumont Cornish Limited (Nomad)                                      www.beaumontcornish.com

James Biddle / Roland Cornish                                                   Tel: +44 (0) 207 628 3396

SP Angel Corporate Finance LLP (Broker)                      www.spangel.co.uk                           

Stuart Gledhill / Caroline Rowe / Richard Hail                       Tel: +44 (0)20 3470 0470

Flagstaff PR/IR                                                                                  angus@flagstaffcomms.com

Tim Thompson / Fergus Mellon / Alison Alfrey                   Tel: +44 (0) 207 129 1474              

Disclaimers - this Announcement includes statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "forecasts", "plans", "prepares", "anticipates", "projects", "expects", "intends", "may", "will", "seeks", "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this Announcement and include statements regarding the Company's and the Directors' intentions, beliefs or current expectations concerning, amongst other things, the Company's prospects, growth and strategy. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The Company's actual performance, achievements and financial condition may differ materially from those expressed or implied by the forward-looking statements in this Announcement. In addition, even if the Company's results of operations, performance, achievements and financial condition are consistent with the forward-looking statements in this Announcement, those results or developments may not be indicative of results or developments in subsequent periods. Any forward-looking statements that the Company makes in this Announcement speak only as of the date of such statement and (other than in accordance with their legal or regulatory obligations) neither the Company, nor the Bookrunner nor Beaumont Cornish nor any of their respective associates, directors, officers or advisers shall be obliged to update such statements. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

Beaumont Cornish Limited, which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, is acting as nominated adviser to the Company in relation to the matters referred herein. Beaumont Cornish Limited is acting exclusively for the Company and for no one else in relation to the matters described in this announcement and is not advising any other person and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to clients of Beaumont Cornish Limited, or for providing advice in relation to the contents of this announcement or any matter referred to in it.