Fladgate has advised Angus Energy plc (AIM:ANGS) on the deal.
Angus Energy plc, the AIM listed onshore oil and gas development company, made a £1 million equity placing, which will form part of a working capital contingency fund to support a proposed debt facility of up to £12 million.
Together, the placing and the proposed debt funding will assist in the redevelopment and connection to the grid of the onshore Saltfleetby Gas Field, in which Angus Energy is owner-operator with a 51% share. The facility will be supported by gas sales.
The Fladgate team comprised Paul Airley (Picture) and senior associate David Baverstock.
Law Firms: Fladgate LLP;
Clients: Angus Energy plc;