Angus Energy Share Discussion Threads

[ja51oiler] 29/7/2021 09:35

JT......The Forum accounts are slim, aren't they?..... A £45K bank loan? Looking forward to FORUM ENERGY SERVICES 75% or more owned Saltfletby Energy accounts shortly. They will hopefully start to make some sense of this!

[ultimatejustice9] 29/7/2021 09:14

Reaching the £1 mark is a big milestone. George has said that first gas will be produced by the end of Q4.Im sure you said you had sold out at 1p on LSE, why is this bothering you so much?

[headinthesand] 29/7/2021 09:06

Why is today's natural gas price "wow"? ANGS hasn't got any to sell.

Nor will it have any meaningful quantities (presuming it can produce some) until well after the forthcoming winter period. The delays that have already occurred mean that winter 2021/2022 has been missed.

Pointless and agenda-loaded speculation. As usual.

[ultimatejustice9] 29/7/2021 08:46

Natural gas hit £1.03 today, wow

[jtidsbadly] 29/7/2021 08:37

Correction: for some reason, there are two columns in the balance sheet for the year under review. So they have net assets of a bit more than £100,000. SEL’s Accounts will be interesting.

[jtidsbadly] 29/7/2021 07:39

THe Forum Energy Services Accounts are out on the Companies House site. There’s hardly anything in them and unless there’s a mistake in the assets column, they’ve got net liabilities, haven’t they?

[ultimatejustice9] 28/7/2021 23:16

The prices look great, first gas by the end of Q4 2021

Big incentive for Angs

[jtidsbadly] 28/7/2021 22:25

Yes, you’ll get no argument on that, winter gas prices look promising for anyone that’s producing any. Why you mention the fact on this site is beyond me though.

[cantrememberthis2] 28/7/2021 22:14

Compelling Metrics GAME ON
Natural Gas Prices look very good towards Winter

And we are at 0.85p Pah

Multi Bags

[ja51oiler] 28/7/2021 20:49

You could really do with keeping up to date! The RNS you mention has been superseded by the recent interview and the last RNS referencing it.

And the figures you give are all cobblers. You forget to mention they would only get 51% and it was based on 10 million standard cubic feet a day. They need both compressors online and a successful sidetrack that produces more than 5 million standard cubic feet a day to reach that target.

I suggest you watch this before commenting further.

[ultimatejustice9] 28/7/2021 19:56

From a recent RNS

Angus and Saltfleetby Energy Limited have now secured all funding required to commission the plant by Q4 2021 and achieve First Gas by December 2021

· By making the full £12 million facility available immediately, Angus is able to bring forward plans for the side- track well, which would be fully funded from the facility, and increase production to the plateau rate sooner than expected.

[ultimatejustice9] 28/7/2021 19:53

This is from the telegram group

ANGS

- FDP approved
- Funding agreement has been signed
- Gas Q4 2021
- Prominent funds backing
- Confidence and backing from big shareholders
- multiples expected IF gas is sold to Royal Dutch Shell
- Lidsey (if their re-interpretation of Lidsey proves to be correct, could make a major contribution to Angus's future cash flow)
- Don't forget what ANGS has said - an extra 1p/therm = +£350k of revenue and the project financials are based on 38p/therm!! The average achieved price under the Hedge, including all fees, costs and charges is 43 pence per therm. The hedge only starts in July next year. and from then on 70% is fixed at 43p/th. Anything produced before then will be at prevailing market prices, Q121 is at 78p/th and Q2 is 50p/th.
-lowly current share price and market cap, which take full account of the negatives and no account of the positives
- The CPR's net present values, discounted to 01/01/20 at 10% pa, effective date 28/02/20, are on page 56 of the CPR. They should be reduced by about 10% for the overrun on processing equipment costs:

P90: £16.7m
P50: £25.2m
P10: £34.9m

- Gas/Oil & Geothermal

GL - Gas 140million

GL - Oil - 70million

GL - Geothermal - 300million

= 510m projected revenue from this podcast

[ja51oiler] 28/7/2021 19:30

Dear o dear.... and what is the production rate you have based your fantasy on?

[ultimatejustice9] 28/7/2021 16:29

The gas prices are important, I've tried to work it out of todays price if the get going by the end of Q4. I make it an additional 7m in the 6 months before the hedge and then and extra 2.1m when the hedge kicks in

[jtidsbadly] 28/7/2021 15:35

HITS: my understanding, as I mentioned a few weeks ago, is that futures contracts have to be marked to market. Forwards don’t. So I think they’ll be forwards. The other site is assuming they’ll get the prevailing market price until July for anything they produce (which in my view will be nil, or thereabouts) and after that the margin between 43p and the prevailing higher price. Unless they’re by then producing more than 70% of target, that’s completely wrong. As I understand it, they’d be better with a lower price if they’re not producing 70%. Yes, the potential losses on a simple forward contract as I understand it would be eye watering. How good the financially expert interim MD is on this stuff I don’t know. He was in a hurry and over a barrel at the time the deal was signed.

Also, were Mercuria on the other side of the hedges? I think we should know the answer to this. And where are Mercuria now? They’re not mentioned by name, as far as I can recall, in the charge document. Are they still a party to the deal? Who is the “chargor”; in the charge notification? Whoever it is now controls AEWB3. I dare say they’ll have had a hand in what information was released in the Accounts today.

[sincero1] 28/7/2021 12:53

old irrelevant duffer jtisadly and let's not forget some of his recent posts. ...pretty clear he is clueless and totally discredited .... brown slacks on standby re your mercuria posts...
5.7.21 "placing this week or next"
8.7.21"another placing or two in the next few months"
9.7.21 "" placing is in the queue and will come once the latest UKOG issue has been digested"
14.7.21 ""I'm expecting two placings this year"
"I'm expecting two placings this year"
21.5.21 "poor angus 0.20 soon" 9+ weeks ago.
" share price into the sixties shortly " 7+ weeks ago.
"oga approval doubt" .
" financing doubt" .
" running out of money " weekly prediction for last 6 months.
" 0.15 by end of year".
" placing soon " daily prediction for last 6 months.
"its a pump & dump" - it wasn't.
"They did run out of money towards the end of March, as we predicted" - As at 31 March 2021 the Group had cash of £591,000. As at 31 March 2021 the Group had net current assets of £1,351,000".
Here are a few of jtisadly's comment regarding mercuria:
"If Mercuria has written the hedge contracts, Anguish may fall into their hands"
"it's going to cost Mercuria lots of money"
"Maybe they can use Anguish's tax losses"
"I expect Mercuria to want Anguish to have more placings"
"I dare say Mercuria will be getting all its original demands met"
"I expect the loan terms to stipulate release of funds as and when needed and subject to Mercuria's specific approval"
"Id be surprised if we don't see the appointment of a Mercuria person as a Director there very shortly."
"The proposed loan terms are unaffordable. Mercuria must have something else in mind"
"For someone like Mercuria, this is a no-brainer. Tax losses that make pulling the plug on Anguish pretty well risk-free if they can't make money on the gas"

[sincero1] 28/7/2021 12:52

jtisdaly " if my supposition... " Supposition : a belief held without proof or certain knowledge; an assumption or hypothesis....

[jtidsbadly] 28/7/2021 12:50

Yes, HITS, I agree on every point. But people on the other site keep posting about the gas price. If Anguish are piping 70%+ of their expected volumes by July, no problem. But, if my supposition is correct, in the event that volumes are below the levels required in the hedge contracts, gas prices much higher than 43p could result in pretty big losses.

[sincero1] 28/7/2021 12:49

yawn......... you can always ask these pressing questions, that you all keep regurgitating for months and months , on the angus investor q&a page ........ but you all appear to be to frightened to do so .... that is the really telling point ...

[ja51oiler] 28/7/2021 12:49

Which interview was that UJ9? The last one was the Proactive One2One Forum in which he gave details on the delay to the sidetrack into the Spring!

As for updating the market with timelines.....I suggest you do a little more research........They have never hit a timeline or updated the market.........Just have a look at the pipeline as an example.

[headinthesand] 28/7/2021 12:44

He actually said "first gas hoped for by end of this year" (or words to that effect).

Given George's jaw-droppingly poor track record of accuracy when coming to giving estimates on time (and also funding) needed, I'm personally taking that with a wheelbarrowful of salt. Especially reading between the lines of more recent information.

But actually, although first gas is (obviously) an essential milestone to pass, in and of itself, it's pretty much irrelevant. Literally the only questions that matter re Poundland (and thus re ANGS as a whole, because ANGS is nothing more than Poundland, despite puff and nonsense from the company in efforts to pretend otherwise) are:-

What will be the quantities of gas that the site can be made to produce?

Will they be enough to cover production costs (fixed, variable and debt-related)?

Is having any chance of getting to a commercially viable level of production already known to be entirely dependant upon the successful drilling of a sidetrack?

I personally don't believe we'll discover the genuine and independently verifiable answers to any of the above questions - which let's not forget are all literally future-defining for ANGS - until late Q1 next year at the earliest... and much more likely not until well into Q2.