Angus Energy Share Discussion Threads

[jtidsbadly] 25/6/2022 11:24

That’s the chap. Earl of Oxford. Stranger than fiction, what?

[1347] 25/6/2022 11:08

I thought his name was Henry, or was it Will or even Francis? Same geezer wot wrote that play wrote about swords and plow shares wasn't it? Came from up Brum way as I recall?

[jtidsbadly] 25/6/2022 10:43

1347: yes, of course - St. Brockham’s Day. Book of Samuel, innit? How about these lines, from the same book and pen: “This noble throne of earls, this sceptred site, This plot of majesty, this seat of Horlicks, This other Brockham, demi-paradise, This fenland built by Nature for herself Against infection and the hand of Putin, This worried breed of men, this little world, This precious gas field set in the desolate fens, Which serves it in the office of a ditch, Or as a moat defensive to a house, Against the envy of less happier [sic] lands, This blessed plot, this earth, this realm, this Poundland”

[3put] 25/6/2022 08:40

Let's have a FRIENDLY sweep for first gas ⛽️ 20 21 22 - 3PUT 23 24 - Gasman & Bobaxe1 27 - TIDY 2 & WG818 28 - Sincero & Valentine 29 - Shooter 30 - 1 - Noelpbz JULY - HITS (Full Production) Shooter (Full Production) AUG - Chick (Full Production) JA (Full Production)

[3put] 25/6/2022 08:40

Given the amount of seismic performed over the last 25 years in the field and the number of bore-holes and side-tracks drilled, providing good offset data, presumably the company and its contractors must be wholly confident of hitting the target zone. Putting that aside, what operational risks exist and could the programme be more complicated or expensive than planned? What lessons have been learned from mistakes by previous drillers in this formation? Asked on 31 May 2022 Thanks. The level of confidence about the target zone is indeed very high. We are addressing an area of the reservoir which was being produced from by an existing well, which was shut in due to a well-bore related issue. An non-exhaustive list of risks, ever present in all drilling programmes is given in hxxps://www.researchgate.net/publication/317248002_Downhole_Drilling_Problems Pertinent here are 1) hole collapse – this occurred twice in the Saltfleetby field and both times in the same layer, so we have introduced mitigation measures and will approach this layer with appropriate caution and 2) differential sticking ; 3) loss of bottom hole assembly – this occurred twice at Saltfleetby and 4) lost circulation fluids with reservoir damage. Many of these issues can be managed by reducing mud weight which is easier to do when well control is not such an issue as in a depleted reservoir. It is wrong to characterise the historical drilling programmes at Saltfleetby as being especially prone to failure. Drilling was conducted between 1984 and 2017 by a number of Operators of varying competence. This being the UK’s largest onshore gas field, a great number of the earlier side tracks were in fact wholly exploratory. Some of the later drilling programmes did encounter problems which (by the common agreement of many specialists present at the time) could have been avoided with a relatively small degree of caution by the then drilling manager. As we have advised before, this sidetrack has been planned with the benefit of enhanced 3D seismic and the oversight of a great number of independent drilling engineers and specialists. Some of the later side-tracks did not benefit from such oversight. Angus’ drilling programmes have generally been well executed – albeit with disappointment about the target zone at Brockham and Lidsey. Angus drilled Horse Hill-1 successfully before selling out to partners and drilling programmes at the other fields either did not encounter the sorts of issues listed above or Angus was able to rectify them swiftly.

[3put] 25/6/2022 08:39

Can we please have an update on all the relevant permissions needed for current and near future work. Asked on 14 June 2022 We will answer this question in the ordinary course of our Q&A, but as regards our recommissioning project at Saltfleetby we note that on 22 March 2022 we have already answered this question as follows: “Angus Energy plc (AIM: ANGS) is pleased to announce that the Environment Agency has issued its Variation Notice for the existing Saltfleetby gas field permit. The site permit now encompasses the new activities of processing and compressing of gas for direct export to National Grid. No further regulatory or planning permissions are required before First Gas.”

[1347] 25/6/2022 07:54

Oh dear JT you are forgetting that the most important event in the Anguish calendar will be this week because on Tuesday it will be St Brockham's Day. Yes it's three years since they finally admitted that the geology at Brockham was somewhat at variance with what they'd previously spent two years telling market it was. I heard LL's going to give a rousing speech, what? And Crispin Crispian shall ne'er go by, From this day to the ending of the world, But we in it shall be rememberèd — We few, we unhappy few, we band of punters; For he to-day that sheds his money with me Shall be my brother; be he ne'er so vile, This day shall gentle his condition; And gentlemen in England now a-bed Shall think themselves lucky they were not there, And hold their wallets firm whiles any speaks That failed with us upon Saint Brockham's day.

[jtidsbadly] 24/6/2022 23:23

So, what are we expecting for next week? There will have to be an announcement at some stage, with the first day of the forward contracts next Friday. Will it be: 1. An update on progress at Poundland and the date the Board now expects gas production for sale to Shell. Or 2. An update on “first gas”, including the Interim MD’s definition of the term. This matters because of his statement that no regulatory permissions are needed before first gas. If by the term he means merely the first release of gas from the well head for testing purposes, perhaps he’ll update us on what permissions remain to be issued in the period between first gas and gas production for sale to Shell, to enable the latter to happen. Or 3. An update on Aleph’s second £3mm. Has it been received yet and have the new shares been issued? Plus an update on large shareholdings in Anguish, to include Aleph’s second placing shares, if any. Plus an update on the current cash position and its adequacy to meet the next month’s bills. Or 4. An update on the tax position. Not just the effects of the recent Government tax proposals on profits from Poundland but also, specifically, once the Lenders start receiving their 8% (of turnover) royalty, who will be responsible for the newly-announced tax on this revenue? He didn’t seem to be very well informed on the tax position in his recent interview. Or 5. An update on the composition of the Board. Aleph should have the right to nominate 2 Directors and Anguish expect to appoint Mr. Forrest as another. Exciting, innit? Luckily, the July forward gas price has fallen to 161p/therm. And equally lucky, there’s no Investor Questions to answer.

[wg818] 24/6/2022 21:47

1.27 finish, that is 8% up in 5 days, 18% in a month. Are the goons still claiming to be saving investors money?Trolls but not very good ones.

[3put] 24/6/2022 16:17

Remember , the gas production from the two wells switched on have been estimated on conservative side. Getting very exciting

[3put] 24/6/2022 16:16

You need to use desktop to see the pictures of the progress

[3put] 24/6/2022 16:14

Civil's going on near the well head

[3put] 24/6/2022 16:14

Work on the sidetrack has started , first gas early next week.

[jtidsbadly] 24/6/2022 16:03

Yes, HITS, I quoted this article on here some months ago when I started asking what the Interim MD means when he uses the term. I still haven’t had a reply from the people who claim they know, even though one or two of them appear to be close to the management. I think a relatively small-scale, simple plant like this should take less time to bring on stream but there’s so much to do to comply with all the regulations before then. And bits of kit are still being installed! The various inspectors will need to be content with the reams of operating/safety compliance/emergency/disaster recovery procedures/manuals etc. and with staff training. The plant manufacturers will need to be on site to train the Anguish staff in how to operate each piece of kit. Think how many people they’ll need to work three shifts per day, all adequately trained. Then there’s the sidetrack. And the forward contracts apply a week from today. Anguish will be hoping for much lower gas prices. Much higher prices would ruin them at a much earlier date.

[3put] 24/6/2022 15:54

HITS: Does that look like work being done on the sidetrack?

[3put] 24/6/2022 15:52

Let's have a FRIENDLY sweep for first gas ⛽️ 20 21 22 - 3PUT 23 24 - Gasman & Bobaxe1 27 - TIDY 2 & WG818 28 - Sincero & Valentine 29 - Shooter 30 - 1 - Noelpbz JULY - HITS (Full Production) Shooter (Full Production) AUG - Chick (Full Production) JA (Full Production)

[3put] 24/6/2022 15:51

I will do a new poll when we are there

[3put] 24/6/2022 15:50

3Put I think you need a revised sweepstake now... one on when full production starts (i.e. gas actually being piped for Shell to offtake and purchase). HITS: Lets get to first gas !!

[1347] 24/6/2022 15:36

We haven't even had those nominations yet have we that they promised would be mid June? Not to mention where is the new version of that EA permit (I mentioned it once but I think I got away with it).

[headinthesand] 24/6/2022 15:16

We have this thing called the Internet these days. According to the Law Insider website, the generally accepted meaning of the term "first gas" is as follows:- "First Gas means management’s current estimate of the date on which natural gas will first be made available to the relevant project. Full commercial operations of such projects will occur later than, and may occur substantially later than, the First Gas date." hTTps://www.lawinsider.com/dictionary/first-gas

[3put] 24/6/2022 14:53

You do, you just can't bring yourself to say it.