Angus Energy Share Discussion Threads

[jtidsbadly] 18/10/2023 09:48

JA51: Anguish haven’t mentioned the term “Global Re-Financing” recently, have they? Not that I’ve seen. I think Mercuria want their money back and they want their royalty, which, as the CPR demonstrates, is free money and a lot of it. The £3mm bridge loan is being repaid through the upcoming equity issue. They’ve completely abandoned the previous Pen Holder’s commitment to no further dilution. Talk of next summer is probably redundant, since the junior lenders will soon have effective control and may need to make a bid, which they can do at a low price. Whether they’ll manage a successful p&d and follow it with a barrage of bad news to get the share price down to a level at which shareholders will be prepared to accept their terms is clearly moot.

[ja51oiler] 18/10/2023 09:45

Let's not worry though!They still have geothermal with its £60 million at least price tag that they would need to borrow ?

[ja51oiler] 18/10/2023 09:28

Being very generous And Using the P50 numbers and only £2 million each on Balcombe, Lidsey and Brockam lets call it £30 million they need.

@ 18% Interest (as we have been told) thats £5.4 million a year in interest alone!

[ja51oiler] 18/10/2023 09:10

Its a good job it is frank.

It still doesn't explain how they will pay the £8.5 million P90, £8.1 Million P50 assigned in costs next year!....Or Mr Forrests £5.2 Million owing.......Or that $25 Million "Global finance package should they be lucky enough to get it (The odds of that just went down after that CPR).

Come to that, how are they intending to pay for the works at Balcombe, Lidsey and Brockham?... At least a couple of millions each!

So that's £14 million they don't have for next year without paying the £6 million bridge (not included in the CPR) or Mr Forrests, owed £5.2 million.

Thats considerably more than the $25 million "Global Finance Package" and that doesn't include the £6 million plus included in that to pay Mercuria back!



Its a bit bleak isnt it?

[fat frank] 18/10/2023 08:21

The hedge is halved next June

[ja51oiler] 17/10/2023 21:41

P90 It is then...."reality check"

Page 3

• As a reality check, a production profile was generated using the reduction in flowing
wellhead pressures with cumulative production observed since August 2022. It shows a
good match to the P90 recoverable volume.

And the previous P90 graph actually replaced with a far more pessimistic one. Production dropping to 6.5 MMFSFD in November 24 from around now fairly rapidly (Page 58)

6.5 mmscfd only just beats the Hedge!!

[jtidsbadly] 17/10/2023 18:38

Is that really Malcy in that CEO interview? He looks as if he’s had an unpleasant surprise or has been for his first bout of exercise since Covid.

[ja51oiler] 17/10/2023 13:12

Ermm....ths isnt what they told us!!


6. Sales Condensate Production since August 2022
AEWB reports that 31,271 bbls of condensate have been sold from wells A4 and B2 from August
30th, 2022, to August 1st, 2023. This implies a sales condensate flowrate of about 94 bbls/d.
However, roughly 40 bbl/d condensate from well B7T is not included in these sales figures
because it has been out of sales specification since the well started production. Wells B2 and A4
produce about 21-23 bbls condensate / MMSCF of sales gas. Interestingly, since it started
production in May 2023, well B7T is producing at a lower CGR, 14 - 16 bbl/MMSCF. Table 6-1
refers. The combined CGR at the Effective Date is 18.8 bbl/MMSCF.

[ja51oiler] 17/10/2023 12:48

Only just started reading and found this!

Angus Energy plc, Saltfleetby Gas Field, PEDL005 Page 12 of 91
9. AEWB’s compression is currently designed to operate at 10 MMSCFD wellhead flowrate
at a minimum flowing wellhead pressure constraint of 17.5 barg. When the flowing
wellhead pressure declines to 17.5 barg, the flowrate will automatically reduce until
booster compression is installed10. The P90 & P50 schedule for start of booster
compressor operation is October 2024. It is likely that a 10 MMSCFD flowrate will not
be sustainable until the booster compressor is operational. P50 and P90 Capex of £2.3m
and £2.6m, respectively are included in the cash flow calculations for the booster
compressor, and this includes investment to uprate the compressors to process 12
MMSCFD wellhead gas in time for the fourth well, SF9, to enter production in January
2025.
10. The cooling capacity of the compressors imposes an additional constraint of 9 MMSCFD
at air temperatures above 23 Deg C. This will be remedied during the August 2024
planned shutdown. (At low air temperatures, the compressors can currently achieve 12
MMSCFD)

[1347] 17/10/2023 10:33

JT Does that last bit qualify as yet another pump failure?

I see they've now uploaded the full CPR, which I'll go through later, I note your points.

[bionicdog] 17/10/2023 09:47

It certainly is a big ouch.

[1347] 17/10/2023 08:35

It is also very disingenuous to state that:

"The Company notes that in the 40 years of this site's existence there has never been any hydraulic fracturing either proposed or employed"

Because that is what Bolney proposed doing in 2011, I quote from a Cuadrilla statemement on 10th July 2014:

"Back in June 2011 Andrew Price wrote to DECC to request an extension to the initial term of the PEDL 244 licence. At the time we were unable to meet our licence commitments as our operational work plan (which at that time included hydraulic fracturing) was not able to go ahead due to the suspension of hydraulic fracturing imposed by DECC. We therefore wrote to DECC asking for the initial term to be extended on this basis."

Note the bit in brackets.

[1347] 17/10/2023 08:16

JT Here's something to keep you amused this day, count the number of spelling mistakes in the Poundland RNS, including the name of the field itself. Apallingly sloppy, as usual.

[sincero1] 17/10/2023 07:54

SSSLLAAAAAPPP...BIG OUCH...

[oakville] 17/10/2023 07:52

I had given up on this one to be honest. Holding currently worth £1200 so might get something out of it?

[iceagefarmer] 17/10/2023 07:50

BOOM! BOOM!

[iceagefarmer] 17/10/2023 07:50

BOOM! BOOM!

[jtidsbadly] 16/10/2023 09:47

“We had hoped to install and commission the flowline at the beginning of September, but contractor delays have pushed completion of the work into October. We plan to update investors on the timeline for commissioning of the permanent flowline soon.”

So no update yet on the timeline. “Update” doesn’t mean a completion RNS does it? This must be costing them a lot of money. What’s a “contractor delay”? Did someone forget to engage one? Mercuria must be looking forward to getting their money back, what? Luckily for shareholders, the management has gone on record as eschewing further equity dilution. Dear oh dear.

[bionicdog] 16/10/2023 09:23

iceagefarmer15 Oct '23 - 10:05 - 36493 of 36507

doubt if you'll be able to close your shorts under 1p monday..rns 7am monday..massive

[sincero1] 16/10/2023 08:37

oh dear ...nurse got you all up early for nothing...ouch..

[sincero1] 16/10/2023 06:49

the disingenuous non shareholding stale urine smelling nobodies were , as predicted, very active ..just wasting their time aren't they..ouch ....they will be up early today watching for an rns won't they... bigger ouch...
morning moronicdog..posting at midnight at the weekend..on a share you don't hold..what a tragic little nobody......BIGGEST OUCH..