Angus Energy Share Discussion Threads

[chickbait] 28/10/2021 23:31

Okay. Still no answer. Can someone please explain how the price per therm actually works?

Thanks..

[chickbait] 28/10/2021 23:29

But CQ. They said they are experts. What, what?

[clottedq] 28/10/2021 22:42

All I see is Put... put... put... put... put...

Maybe vocal stuttering has transferred to the keyboard in this technologically advanced age... or maybe - just maybe - somebody doesn't care to read rational argument - as it doesn't suit their agenda?

Hmmm... I wonder which it could be?

I've only just picked myself up off the floor, having read Malcy describing Anguish as "a senior player in the gas market!" LOLOLOLOLOLOLOLOLOL!

I guess that must make me a senior player in the gas market too then, since neither of us actually produce any gas at the moment?!?!?!

CQ ;-)

[chickbait] 28/10/2021 21:26

Basically what I'm asking is if let's say the price of gas is 43p per therm. Is that the end price to the consumer or does the price that SFB sell to Shell less?

[chickbait] 28/10/2021 21:23

Most likely already been posted previously. Do the figures being mentioned include Shells off take costs or do Shell buy the gas a lot cheaper?

[jtidsbadly] 28/10/2021 21:14

It’s fantastic really that there is no mention in the revised CPR of the impact on profitability of a possible under-production of the volume figures covered by the hedges. With gas prices where they are, this must surely be the biggest single risk to Anguish? Do the authors not understand hedges, or have I got it wrong? Someone needs to ask the questions about what the hedges are and what happens if Anguish under-produce. To forecast higher revenues and not to mention this risk doesn’t seem very sensible, does it?

[3put] 28/10/2021 13:13

Paweł Majewski is the CEO of the Polish oil and gas company PGNiG.

As gas prices have skyrocketed across Europe over the last few weeks, members of the European Parliament have rightly suspected gas market manipulation and called on the European Commission to investigate the role of Gazprom, Russia’s state-controlled natural gas exporter, amid the ongoing surge. Regrettably, Gazprom has indeed often applied political pressure by using its market power in the past. This time is no different.

Gazprom is using record-high gas prices to create the misleading impression that immediate regulatory concessions are needed to start the operation of the Nord Stream 2 gas pipeline, in order to prevent a gas crisis in the upcoming winter. In truth, however, there is plenty of available capacity to supply Russian gas, and this new pipeline will not provide additional gas volumes — it will only substitute existing supply routes. Given this, there are clear requirements of EU energy law that must be fully implemented when it comes to Nord Stream 2.


The International Energy Agency confirms that gas storage levels in Europe are currently well below their five-year average — but this is mainly the case for Gazprom’s storages. As a main supplier to the European Union, Gazprom has market power and isn’t shy of exercising it. The Russian exporter has been supplying less gas and has not been filling its storages to achieve adequate levels before heating season. It has also limited capacity bookings on the Yamal and Brotherhood pipelines, which have always transported gas from the East, and reduced gas volumes on spot markets.

Kremlin’s spokesperson has openly stated that quick regulatory approval of Nord Stream 2 and its operation would reduce gas prices — the pressure is barely covert. Particularly given that even without Nord Stream 2, there is more available gas transport capacity from Russia to Europe than could ever be needed.

Europe has previously experienced gas crises in 2009 and 2014. And both times, Russia limited gas supplies to politically pressure Ukraine, putting European economies at significant risk. While the EU mainly remembers these two events, however, Poland has experienced seven gas supply disruptions since 2004. We know that Gazprom is not willing to play along with the EU’s gas market rules and has a history of abusing its dominant position.

In 2015, the European Commission had already prepared an extensive Statement of Objections, identifying Gazprom’s breaches of competition rules, which undermined the EU gas market. Regrettably, in practice, the agreed commitments between the Commission and Gazprom did not lead to improvements in the functioning of the market. Since then, however, arbitration tribunals have confirmed the Commission’s findings on the excessiveness of Gazprom’s prices, requiring it to repay $1.5 billion to our Polish oil and gas company PGNiG and $2.9 billion to Ukraine’s Naftogaz.

This clearly shows that non-market pricing had — and still has — an important role in Gazprom’s toolbox. Given its track record and the way the pipeline is being used even before it is operational, Nord Stream 2 will only offer additional instruments to exert pressure. And as rightly stated by Poland’s late President Lech Kaczyński in the beginning of Russian aggression in Georgia in 2008, this will undermine the security of Ukraine, the Baltic states and the whole Europe.

Realistically, no EU rules could fully address all the risks associated with the controversial pipeline. However, the full implementation of EU energy law to Nord Stream 2 could limit supply risks, providing at least minimum necessary guarantees for energy consumers. Consequently, all requirements of the EU Gas Directive should be applied to the entire pipeline, especially ownership unbundling, nondiscriminatory and cost-reflective tariff setting and third-party access.


As stated, not long ago, by European Commission President Ursula von der Leyen, Nord Stream 2 is a highly political project, and all legal means should be used to ensure that EU law is fully implemented. Undermining a level playing field in the energy market counters EU energy policy and goes against the interests of the EU and its member countries. On this, the EU must be united and speak with one voice.

[3put] 28/10/2021 13:13

For the second time in a month, a Spanish minister met with Algerian officials on Wednesday to guarantee the European country’s supply of natural gas after Algeria closes a pipeline that runs through Morocco this weekend.

While a leader in wind and solar power, Spain still relies heavily on energy imports and Algeria provides over a third of its natural gas. Spanish officials worry that a shortage in supplies will fuel already skyrocketing energy prices that have made electricity bills a major problem for its left-wing coalition government.

The trip by Spain’s deputy prime minister for ecological transition, Teresa Ribera, to Algiers came only a month after the country's foreign minister travelled to the Algerian capital to discuss the gas supply that Spain fears could be a collateral victim of Algeria’s diplomatic spat with Morocco.


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After meeting with Algeria's minister for energy and mining, Mohamed Arkab, Ribera thanked him for “his pledge to ensure the viability of the transport of natural gas and to honour the commitments for its purchase between different Algerian and Spanish companies.”

Europe's energy crisis: EU countries dismiss Spain's calls for market intervention
Moldova receives first non-Russian gas delivery as it grapples with severe energy crisis
Algeria has said it won’t renew an agreement, set to expire on Sunday, that has kept its natural gas flowing through Morocco and on to Spain for the past 25 years. The development follows a deterioration of Algerian relations with Morocco centered around the disputed region of Western Sahara, highlighted by the recall of the Algerian ambassador.


The pipeline that travels across northwest Africa before crossing the Mediterranean Sea at Zahara de los Atunes on the other side of the Strait of Gibraltar supplied Spain with just over 10% of all its natural gas in 2020, according to CORES, Spain’s public corporation that watches over its strategic energy reserves.

The pipeline also supplied Morocco with enough gas to produce 10% of its total electricity on top of the annual $60 million (€51.7 million) it received for crossing its territory.


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A second, longer pipeline from Algeria to Almería in Spain’s southeastern shore currently provides 16% of its total natural gas imports.

Europe's energy crisis: Five charts to explain why your bills might go up this winter
Europe's energy crisis: Why it's not just Spain's poor fearing a rise in electricity bills
There are plans to boost that pipeline’s capacity from eight to 10 million square metres in the coming months. Even so, that won't fully make up the shortfall, unless boats can bring in enough liquefied natural gas to Spain directly from Algeria.

Ribera said her counterpart also agreed to be prepared in case Spain asked Algeria to increase the supply of natural gas.

“Algeria, through the company Sonatrach, will honour its commitments with Spain, relating to natural gas supply and is ready to discuss the terms of additional gas deliveries,” Arkab said, according to the Algerian official news agency APS.

Spain’s diplomatic mission comes amid a spike in energy prices across Europe that is hitting the Iberian peninsula hard and driving up electricity bills for homes and businesses. Ribera, a respected environmental policymaker, has been tasked by Spanish Prime Minister Pedro Sánchez to find a solution.

[sincero1] 28/10/2021 12:21

hits "I'm more than capable of deciding if and when I've been "attacked" "..no doubt, I'm sure you can look out for yourself..I was just pointing out how underhanded, duplicitous and disembling old grey jtisadly is ..that or it is senility....

[1347] 28/10/2021 12:11

Breaking news from the future.... Latest pictures of the Mysteron gas field on Mars, complete with solar power. It's from 2068 so first gas about the same time as Poundland then.

[sincero1] 28/10/2021 11:45

a look at 13reallyneedsahobby47cptmainwaring's posting history on this whole site really is quite interesting....literally negative supposition on every single share ...angs, vast, ujo, gemd, bmn, avct, ukog .......

[headinthesand] 28/10/2021 11:08

I have no qualms whatsoever, given that I'm on the side of the angels.

(That'd be Harmony, Destiny, Melody, Rhapsody and Symphony, naturally).

SIG. Cloudbase over and out.

[jtidsbadly] 28/10/2021 10:27

1347: yes, you’d think they had enough on their hands chasing rainbows rather than sending hired thugs to interfere with HITS, what? If Captain Brown (Trousers) were to rouse himself to deal with them, all he’d need to take would be Great Big Billy Goat Gruff.

As you know, I’m wondering now if they’ve decided the only way out of the bind they’re in is a successful fluke at one of their oil sites. The problem will be paying for it. I should imagine they’ll remain quiet on Balcombe and have a go at Lidsey, if this is what they’ve got in mind. Stick it all on 36, good idea.

[1347] 28/10/2021 10:18

HITS is being attacked? Is it those Mysterons? If so Captain Brown (trousers) will soon sort them out I'm sure.

JT: I don't have a hat, but if I did then sadly I would have some shares in this 'failed' company in it. However Trolls don't influence me at all, they are generally semi-literate at best and almost invariably intellectually challenged.

No I'm more concerned about the interim MD and his misleading predictions on costs and timescales and the convenient omissions when informing market about things. Still waiting for notification about that appeal at Balcombe, or was the statement that they would appeal just more misinformation?

[headinthesand] 28/10/2021 09:57

Just for info, I'm more than capable of deciding if and when I've been "attacked" - though frankly, the very notion of being "attacked" to any extent that requires notice and in any meaningful manner on some backwater share discussion board causes an amused eyebrow to get raised.

Equally, I am more than happy to own any comment or post that I have made - solely on the basis that I have chosen to make such.

Let's not get all playground melodramatic here, eh?

[sincero1] 28/10/2021 07:39

jtisadly "..likeable and persuasive.." when hits is being critical..senility or disingenuousness makes him forget how he attacked hits last week ....watch out hits...don't get implicated

[3put] 28/10/2021 00:07

There is no hedge on production until July 2022. What is the value of all production from March 2022 to July 2022 at the prices on the present NBP Heren forward curve for these months with and without the side track? Asked on 21 September 2021
The short answer is the field ,on the original CPR plateau volumes but at the latest forward curve prices, might generate £17 mllion over those four months with the side track and about £8.5m without it. Angus share is 51%. Ordinary opex might be about £0.6m excluding debt service.

The forward prices from are given below in $/MMBTU (approx pence/therm equivalent in brackets). Prices from ICE for contracts for Q2 in pence/therm in particular seem to be a penny or two better which is probably the £/$ exchange rate (see

Heren March $28.583 (213p); April $16.679 (119p); May $14.260 (102p); June $13.774 (98p), given a conservative conversion rate of volume (mmscf) to heat value (therms) – i.e. multiply mmscf by 10500 to get therms – the field would generate in total over those four months gross revenues for all partners of £17.1 million at 10mmscf/d (i.e. CPR plateau production with side track) or £8.6 million at 5 mmscf/d (i.e. CPR lower plateau production with no sidetrack). Operating expenses for full year 2022 according to CPR might be of the order of £2.3m and therefore for this period would be c. £0.6m.

All of this information is already publicly available, and we stress these are presently notional numbers arrived at approxmately and that these prices are not hedged in any way and therefore might not be available come production in March etc. However whilst the final outcome may vary considerably, we and our partners do anticipate strong demand for gas in the coming years regardless of short term price effects.

[3put] 28/10/2021 00:05

Bloomberg) --Natural gas futures soared as forecasts for chilly November weather in the U.S. East heightened concern that supplies will struggle to meet demand this winter.

Henry Hub gas for November delivery gained as much as 10.7%, the biggest gain in almost three weeks, to $5.844 per million British thermal units. Prices are bouncing back from recent declines, though they’re still shy of the seven-year high reached earlier this month.

While mild October weather allowed producers to inject more gas into storage than usual, forecasts for a cooler early November in the Midwest and East are a reminder that supplies of the heating and power-generation fuel are still below normal. Meanwhile, the U.S. is expected to export every molecule it can to help ease shortages of gas in Europe and Asia.

“There is terrific concern about sufficiency of supply”, said John Kilduff, founding partner at Again Capital, adding that the market remains sensitive to any cold forecasts.

One sign of growing supply fears: The so-called widowmaker spread between March and April futures, essentially a bet on how tight inventories will be at the end of winter, widened to $1.481, the highest since Oct. 14.

Flows to liquefied natural gas terminals are seen at 11.3 billion cubic feet on Monday, up by more than 10% since Friday and the highest since May, according to BloombergNEF. Estimated volumes at Freeport LNG in Texas have rebounded after the terminal, one of the U.S.’s largest, faced issues with a wax buildup in its pipelines last week.

Traders positioning for the expiration of November options contracts could amplify volatility in gas prices in the next few days, EBW AnalyticsGroup said in a note to clients. November options expire on Tuesday.

Shares of U.S. gas producers also jumped. EQT Corp. gained 5.2% as of 11:51 a.m., with Antero Resources Corp. up 5.6%.

[jtidsbadly] 27/10/2021 23:59

1347: at least you listened to HITS. If you’d listened to the troll, you’d own a hatful of shares in this by now.

[1347] 27/10/2021 21:00

Well HITS persuaded me to try dancing on lines and look at the consequences..

[jtidsbadly] 27/10/2021 20:48

That’s what I meant to say, likeable and persuasive..

[headinthesand] 27/10/2021 20:43

"Quite likeable"? I am damned with faint praise.

[1347] 27/10/2021 20:41

JT Well I'm not so sure, he talked me into trying that line dancing, which I did, but it snapped and the fall was a bit painful. What's worse, now there's nowhere to hang the washing.

[jtidsbadly] 27/10/2021 19:53

1347: I prefer that to Captain Rouser Trousers. HITS is quite likeable, I think.