Angus Energy Share Discussion Threads

[jtidsbadly] 27/11/2023 13:36

1347: I’m trying to ease the conversations on here to your way of thinking. People should be asking themselves these questions, not trusting that the silence of the replacement management is good news. Will anyone ask the question about the volume and cost of waste water transport/treatment? And which well it’s coming from? And how they intend to deal with it? And is it continuing to worsen? And what’s happening with the condensate?

[1347] 27/11/2023 13:09

JT I think you still misunderstand to some degree what he is really there for, when you do then it all makes sense.

[jtidsbadly] 27/11/2023 13:01

1347: yes. The only difference is the new Pen Holder’s pen has run out. Perhaps he should run out after it. He’s imitating the action of the clam, what? He can’t very well blame what’s happening now on his predecessor, after his fulsome praise of the team who brought the sidetrack and the new flowline into production. This must all be costing a bomb.

[jtidsbadly] 27/11/2023 09:54

Can someone remind me of the initial production forecast post-sidetrack for Poundland? 10-12mmscfd rings a bell. It was in the 9-10 range mainly, before the sidetrack was drilled, wasn’t it? Now it seems stuck at about 6.5mmscfd. The new hedges they negotiated were to cover 50% of forecast production, in place of 70%. Well, they now cover approximately 70% of what Poundland is producing again. The price set in the forward contracts falls to the 30s soon. Mr. ‘Erbert is keeping shtum meanwhile. It’s worse than the days of the earlier Pen Holder, what? He’d have been doing an interview with the gorgeous, pouting you know who by now, leering and teasing her with wildly optimistic forecasts. Much more fun. I hope he’s still getting his port ration. Got to look his best for those fashion shots. I mean to say.

[jtidsbadly] 22/11/2023 20:14

1347: I don’t know who owns it. The chap in charge comes from Leeds, so presumably he’ll be happy to see the next sidetrack being drilled. Ee-oop.

As for the water, that would be a good idea, though non-Anguish workers and contractors would continue to complain about the cleanliness of the loos, what?

[1347] 22/11/2023 19:48

JT Have Anguish Energy bought it? Maybe they could use it to dispose of some of that water?

[bionicdog] 22/11/2023 18:52

Yes you are losing money.

[jtidsbadly] 22/11/2023 17:59

....the pub, that is, not the steak.

[jtidsbadly] 22/11/2023 17:57

1347: I’ve looked it up and find that beer isn’t, either - The Prussian Queen has re-opened under new management and the menu features an 8oz. sirloin steak with chips and the usual embellishments for £9.95. Unless the internet site “sluurpy”; menu is out of date. A highly acceptable alternative to the Poundland workers’ long-time favourite, I should think. Apparently it needs a good clean, which is probably all to the good as far as they’re concerned.

[1347] 22/11/2023 15:29

JT Nah water's not a problem, like Brockham they'll just set a Bridge Plug then everything will be fine. On the Prussian Queen I guess they struggled to fund the Water disposal and have enough left over to fund the Batemans.

[jtidsbadly] 21/11/2023 23:08

1347: yes, or the water cut may be rising, as it did with a number of wells with Wingas. They appear to be producing as much dirty water as condensate, and didn't they say ages ago that that costs £49 per barrel to dispose of? And the friendly local population won’t enjoy masses of tankers coming and going when they were told it would be a maximum of five per week.

And one shouldn’t forget the impact of the closure of The Prussian Queen on the morale of the workforce. No more toad in the hole. No more Batemans Good Honest Ales. Quite a blow, what?

[1347] 21/11/2023 19:27

JT One wonders whether they have a technical problem with the well or compressor, pressure drop orf, or are choking it back to stay under that condensate yearly limit. Contrived or not? Either way jolly helpful in getting that VWAP towards 'erberts target, what, what? Oh yes the NEDS, or should that be Neddys?

[jtidsbadly] 21/11/2023 18:43

1347: if I’m reading the flow data right, they’re getting close to the hedged volume. Slip below that enough and they’ll be owing money again, not earning it.

Is it to the previous Pen Holder’s credit that he got out when he saw the way the cookie was crumbling? Lucky that the NED’s are there to protect small shareholders’ interests, what?

[1347] 21/11/2023 11:51

JT Yes I had a skim when I saw the gas flow had dropped off again and went to see if others knew the reason for it (they don't, although I note the speculation). That's when I noticed the comments that any bid had to be at least the highest share price over the last 12 months, there are ways around that.

I have seen the same pattern and how it played out with Deepmatter. Large shareholders getting discounted shares in placings, then selling down on spikes then getting even cheaper shares on the next placing, rinse and repeat so typical of AIM. Eventually they had a very large discounted placing and not long afterwards they de-listed, of course the large shareholders were in on it so it got nodded through at the GM vote on that.

They then did another very large discounted subscription when private, resulting in billions of shares in play. They then consolidated the shares but there was so many shares by that point that anyone holding anything other than millions of them got wiped out as it resulted in holding fractions of the new shares. Of course the so called regulators, the FCA, took no action whatsover. Ergo it became a de-facto backdoor takeover by a few large shareholders. Seem familiar?

[jtidsbadly] 21/11/2023 11:13

1347: do I take it that you’ve paid your monthly visit to Kansas? I agree with you, as you know. Quite funny that the Takeover Code assigns responsibility in some circumstances in deciding whether the % shareholding required by the Code for a full bid may be waived. That’s Paddy and Mr. Forrest and Mr. Zielicki (ex-B.P. and Rosneft) then. Good luck to small shareholders with that.

[1347] 21/11/2023 10:01

JT In my view (long standing as you know) it's being arranged such as not to have to make a bid at the highest price over the last 12 months. Conversion of the Bridge Loan Too Far and or Warrants may give Kemexon and Aleph control without needing to table an offer.

Or, they could just wait until the share price is so low that the highest price over the last 12 months is low enough anyway so any offer could be deemed to be 'in the shareholders best interests'.

Or they could get over 50% of the shares by Warrant and Loan conversions and table a resolution to de-list, et voila no LSE regulation then at all, not even the lip service one there currently is.

Either way non-related parties are going to get cleaned out here in my view, I think the plan was always to clear out those stale bulls, what, what. Hence why 'erbert was roped in and Paddy's still chair. It's Snake Pass on a dark and foggy night, always a risk of the old Anguish bus going off the edge.

All together now - "We are the self preservation society....

[1347] 20/11/2023 13:09

Where's the gas gone, well down again, choked back because of condensate limits or more problems at Poundland, or is it to help get that VWAP conversion price down?

[1347] 15/11/2023 13:45

It's not that cunning, it was called out by me many months ago, it's just the specifics of the manner in which they go about it that are not yet clear.

[bbd2] 15/11/2023 13:23

Given the holding they now have in Angus I would suspect a Black Adder cunning plan is on the cards!

[ja51oiler] 15/11/2023 12:13

The Gas storage had a price tag of £200 million back in 2013. Ludwig is either covering all bases. (something Angus could learn a thing or 2 from) or they have a cunning plan!....the cunning plan will obviously cost them/make them the most money possible!

[1347] 15/11/2023 12:10

bbd As far as I am aware Anguish Energy are not transporters, they just produce the gas and sell it to Shell and have an offtake agreement to that effect. What Kemexon's plans are we don't know because only insiders know what's going on and are also benefitting from cheap shares and warrants, ordinary shareholders are kept in the dark and are getting shafted. It may just be the storage long term, or there may also be plans to obtain gas from elsewhere and use Poundland to get it into the gas network, we don't know.

[bbd2] 15/11/2023 11:39

Assuming the gas transporter that Kemexon are targeting is Angus and thinking outside the box, who else would want/benefit from access to the pipeline? or is this just related to the storage strategy?