Angus Energy Share Discussion Threads

[johncasey] 01/12/2021 00:25

hxxps://www.investormeetcompany.com/vast-resources-plc/register-investor

[chickbait] 01/12/2021 00:23

4 x 3PUT FILTERED POSTS!!!

What is this cheerleader trying to hide by spamming?

[3put] 01/12/2021 00:16

I can see the following systems / subsystems:

1. Overall control & safety system (no DCS, PLC to keep costs down). Use a certified PLC IEC61508 SIL 2/3 certified so that it can also perform the emergency shutdown functions requirements.

All site sites need a Emergency shutdown or what we call a control shutdown,, ALL sites have a PlC regardless!!, and a EBG

2. Fire&Gas detection system, PLC controlled.

This is needed when going into a performance test and reliability test, normally 28 days but we aren’t handing over to a client but ourselfs, but will be needed for insurance reasons and a fire suppression in the control panels and heat and smokes etc

3. Fire protection system(s) - study will define (unknown at present).

Fire risk assessment would of already been done, and when going live then the above would already be in place

4. 1st stage compressor package & controls

Yiu can have first stage and second stage controls are comms and PlC and scada nothing special

5. Dehydration package PLC controlled, own PLC for fast testing installation & commissioning.

Not sure if this is needed as we have condensate pots and Capture control and drain valves, FDS to confirm

6. Joule-Thompson and Dew Point package own PLC controlled for fast testing, installation and commissioning

Part of the GEU, relates to the atmosphere,,

7. 2nd stage compressor package (HPC) & controls.

Not seen anything to suggest a second HPC if so it be a back up and duty assists etc, or it’s only rated to a certain flow so if the side track happens we might need two HPC’s

8. Analyser & Metering Package with own metering PLC.

Told you this is what we call the GEU, grid entry

[3put] 01/12/2021 00:15

The Company's seismic reinterpretation of the Lidsey field is complete and, having been subject to rigorous third party verification, will now be considered by our partners in this Licence. This is the last part of the most comprehensive review of the Lidsey structure ever carried out and includes the reprocessing of all historical seismic lines, the use of a newly acquired east-west seismic line over the field and the data from both the wells on the field and also nearby wells.

This remapping has resulted in some further changes to the shape of the structure but it now fits and is consistent with all of the available data. The Company is confident that the new field mapping explains the issues which were experienced with the Lidsey X2 well in 2017. It is now the Directors' clear belief that the structure culminates near the wellsite area and extends to the east and northeast. Prior to the drilling of Lidsey X2, it was thought that the structure extended to the west and the westerly trajectory of the Lidsey X2 well accordingly targeted an area close to the edge of the structure.

The new mapping shows there to be a significant structure not dissimilar in area to the original structure considered by the previous Competent Person's Report, which continues to support a commercially significant estimate of oil in place.

However, the interpretation does allow Angus to narrow its field of focus in target selection and explore low-cost options for remediation of the field's productivity centre around the reuse, work-over or side-tracking of the existing wells and these will be considered with our partners in the next stage of the work.

The Company's re-mapping of the structure also shows it to extend a significant distance out of the licence area in some scenarios and Angus is now opening a dialogue with the holder of that surrounding licence to consider how we might proceed together to address the future of the field.



Update on Saltfleetby Procurement and Build Schedule

We continue to work with suppliers and contractors to maintain our procurement and build schedule targeting First Gas at the Saltfleetby Gas Field at the end of February. The full schedule involves over a thousand pieces of equipment, including valves, actuators, circuits, vessels, pipes and flanges. Most of the componentry is off the shelf, but taking here the highlights of only the more significant bespoke items: with our Kaldair Flare now on site, this will be followed by:



1) Elster-Honeywell Metering and Analysis skid in early December 2020

2) Condensate and water storage tanks in early January 2021

3) Site power gas fired Caterpillar generator from mid January 2021

4) First Service Compressor and Caterpillar engine in late January/early February 2021

5) Electrical/control housing units 2nd to 3rd week February 2021

6) Gas process plant elements commencing mid February 2021

7) Second Service Compressor and Caterpillar engine in March 2021 - this is for additional flow arising from the sidetrack itself scheduled for April/May 2021



Site civil engineering is under tender and slated to begin in mid-December running through to mid-January, starting with piling, foundationing and, where appropriate, bunding for the flare, storage tanks and compressors and ending with pipe racks supports. Pipework procurement has also begun and welding is scheduled to take place on a continuous basis from early January through to the end of February. Electrical, control and instrumentation installation layout will begin at the end of January with tie-in to particular skids as they arrive.

Of necessity, we operate amidst the backdrop of a disrupted supply and logistical environment, and our suppliers, whilst advising us of the same, have shown a willingness to work with us to tighten advised delivery timetables wherever possible. Further updates will be provided as appropriate.

[3put] 01/12/2021 00:15

The Company's seismic reinterpretation of the Lidsey field is complete and, having been subject to rigorous third party verification, will now be considered by our partners in this Licence. This is the last part of the most comprehensive review of the Lidsey structure ever carried out and includes the reprocessing of all historical seismic lines, the use of a newly acquired east-west seismic line over the field and the data from both the wells on the field and also nearby wells.

This remapping has resulted in some further changes to the shape of the structure but it now fits and is consistent with all of the available data. The Company is confident that the new field mapping explains the issues which were experienced with the Lidsey X2 well in 2017. It is now the Directors' clear belief that the structure culminates near the wellsite area and extends to the east and northeast. Prior to the drilling of Lidsey X2, it was thought that the structure extended to the west and the westerly trajectory of the Lidsey X2 well accordingly targeted an area close to the edge of the structure.

The new mapping shows there to be a significant structure not dissimilar in area to the original structure considered by the previous Competent Person's Report, which continues to support a commercially significant estimate of oil in place.

However, the interpretation does allow Angus to narrow its field of focus in target selection and explore low-cost options for remediation of the field's productivity centre around the reuse, work-over or side-tracking of the existing wells and these will be considered with our partners in the next stage of the work.

The Company's re-mapping of the structure also shows it to extend a significant distance out of the licence area in some scenarios and Angus is now opening a dialogue with the holder of that surrounding licence to consider how we might proceed together to address the future of the field.



Update on Saltfleetby Procurement and Build Schedule

We continue to work with suppliers and contractors to maintain our procurement and build schedule targeting First Gas at the Saltfleetby Gas Field at the end of February. The full schedule involves over a thousand pieces of equipment, including valves, actuators, circuits, vessels, pipes and flanges. Most of the componentry is off the shelf, but taking here the highlights of only the more significant bespoke items: with our Kaldair Flare now on site, this will be followed by:



1) Elster-Honeywell Metering and Analysis skid in early December 2020

2) Condensate and water storage tanks in early January 2021

3) Site power gas fired Caterpillar generator from mid January 2021

4) First Service Compressor and Caterpillar engine in late January/early February 2021

5) Electrical/control housing units 2nd to 3rd week February 2021

6) Gas process plant elements commencing mid February 2021

7) Second Service Compressor and Caterpillar engine in March 2021 - this is for additional flow arising from the sidetrack itself scheduled for April/May 2021



Site civil engineering is under tender and slated to begin in mid-December running through to mid-January, starting with piling, foundationing and, where appropriate, bunding for the flare, storage tanks and compressors and ending with pipe racks supports. Pipework procurement has also begun and welding is scheduled to take place on a continuous basis from early January through to the end of February. Electrical, control and instrumentation installation layout will begin at the end of January with tie-in to particular skids as they arrive.

Of necessity, we operate amidst the backdrop of a disrupted supply and logistical environment, and our suppliers, whilst advising us of the same, have shown a willingness to work with us to tighten advised delivery timetables wherever possible. Further updates will be provided as appropriate.

[jtidsbadly] 01/12/2021 00:10

chickbait: placings are normally done at a relatively small discount to the prevailing market price. The larger the sum raised, the larger the discount. 0.40p. would represent a huge discount. They’d have to issue 500mm. new shares to raise £2mm - less, after the market piranhas took their bites. That would cause a sharp fall in the share price. They'd get their money but existing shareholders would be displeased. They wouldn’t see immediate action at Lidsey either. The cash would be held onto until they know whether they can make the terms of the Debenture in June.

[chickbait] 01/12/2021 00:01

Also, after the latest RNS I do not expect to see another RNS on equipment being delivered especially with the forward looking statement so we can only hope that they will update us on the Q&A's or Twitter videos using Benny Hills old camera man. Let's not forget an overdue Malcy interview?

[chickbait] 30/11/2021 23:56

HITS. READ THE FORWARD LOOKING STATEMENT! NOTHING IS GUARANTEED???

[chickbait] 30/11/2021 23:54

I have all of the cheerleaders on filter apart from Jonny.

As I have not read Spamalot AKA DaveMarn AKA Solo4Yous AKA 3PUT AKA EchDelta's post I'm wondering if he or she are still spouting that ANGS is being shorted?

If Spamalot is still saying it is then:

WARNING ⚠️ RED FLAG 🚩

I WOULD WAIT UNTIL THE SHORT POSITIONS HAVE BEEN CLOSED PERSONALLY. MAYBE 0.6P MAYBE 0.4P?

WHO KNOWS?

[headinthesand] 30/11/2021 23:54

So, all of a sudden, equipment is going to be three+ months late?

Three words. Deception by ommission.

[3put] 30/11/2021 23:36

I have just checked your planning statement on slide 13, It states the sidetrack duration will take up to 16 weeks as mentioned from another poster. Please could you clear this query up once and for all. Asked on 1 October 2021
As now already noted, all applicants for permits and permissions in any walk of life give themselves much more time to complete a task than is necessary. This is because of the length of time and the cost incurred in obtaining the permission in the first place. They will then advise to market, at commencement of operations, a shorter period and expect to come in on the short end of that.

Reabold for instance advised six to ten weeks for drilling the West Newton WNB1 and completed in 6 weeks before moving onto the sidetrack. This was drilled to 2250 m. We are side-tracking from about 1150m to a Measured Depth (including horizontal sections) of about 3000m or 1850 metres of drilling. Nor are we doing a well test which might extend the programme, because we are moving straight from drilling into production here, so there is no need for a well test.

The hardest rock in Europe gives a rate of penetration of about 3m/hour (see page 6 of hxxps://pangea.stanford.edu/ERE/pdf/IGAstandard/SGW/2017/Baujard.pdf). That would imply 600 hours here or 25 days/3-4 weeks of continuous drilling. Even assuming the drilling was no more than half of the time advised, then to drill through this much granite would be only be 7 or 8 weeks.

Granite of course wears drill bits faster and there is much changing of drilling equipment when addressing such hard rock. We are not drilling through granite in Cornwall or Scotland but through sandstones, clays, coals and limestones in Lincolnshire. We anticipate 20 odd days of 24/7 drilling – so a rate of penetration of over 12m/hour (verify by page 29 of Halco’s helpful graphs on rates of penetration hxxps://www.halco.uk/wp-content/uploads/2020/06/A-Z-Drilling.pdf). Of course drilling is not the only workstream here, and even if we were to more than double the time, to suggest five to six weeks of work, we would actually expect the rig to be down inside that envelope. Things can go wrong and extend the timetable – we have always been frank about that – but this is a reasonable verifiable estimate.

What disturbs me about assertions by this poster (and concert parties) – and they are hardly the first instances of obvious falsheoods deliberately spread – is that he holds himself out to be a knowledgeable investor and could have fact checked any of this with online sources in a matter of minutes. Worse still by claiming to have discovered an “internal̶1; company document he implies some great conspiracy by the Company and its Board, rather than sharing his source from the outset and pointing to the very obvious conclusion here: that people give themselves ample leeway in any official permission!

[3put] 30/11/2021 23:36

I have just checked your planning statement on slide 13, It states the sidetrack duration will take up to 16 weeks as mentioned from another poster. Please could you clear this query up once and for all. Asked on 1 October 2021
As now already noted, all applicants for permits and permissions in any walk of life give themselves much more time to complete a task than is necessary. This is because of the length of time and the cost incurred in obtaining the permission in the first place. They will then advise to market, at commencement of operations, a shorter period and expect to come in on the short end of that.

Reabold for instance advised six to ten weeks for drilling the West Newton WNB1 and completed in 6 weeks before moving onto the sidetrack. This was drilled to 2250 m. We are side-tracking from about 1150m to a Measured Depth (including horizontal sections) of about 3000m or 1850 metres of drilling. Nor are we doing a well test which might extend the programme, because we are moving straight from drilling into production here, so there is no need for a well test.

The hardest rock in Europe gives a rate of penetration of about 3m/hour (see page 6 of hxxps://pangea.stanford.edu/ERE/pdf/IGAstandard/SGW/2017/Baujard.pdf). That would imply 600 hours here or 25 days/3-4 weeks of continuous drilling. Even assuming the drilling was no more than half of the time advised, then to drill through this much granite would be only be 7 or 8 weeks.

Granite of course wears drill bits faster and there is much changing of drilling equipment when addressing such hard rock. We are not drilling through granite in Cornwall or Scotland but through sandstones, clays, coals and limestones in Lincolnshire. We anticipate 20 odd days of 24/7 drilling – so a rate of penetration of over 12m/hour (verify by page 29 of Halco’s helpful graphs on rates of penetration hxxps://www.halco.uk/wp-content/uploads/2020/06/A-Z-Drilling.pdf). Of course drilling is not the only workstream here, and even if we were to more than double the time, to suggest five to six weeks of work, we would actually expect the rig to be down inside that envelope. Things can go wrong and extend the timetable – we have always been frank about that – but this is a reasonable verifiable estimate.

What disturbs me about assertions by this poster (and concert parties) – and they are hardly the first instances of obvious falsheoods deliberately spread – is that he holds himself out to be a knowledgeable investor and could have fact checked any of this with online sources in a matter of minutes. Worse still by claiming to have discovered an “internal̶1; company document he implies some great conspiracy by the Company and its Board, rather than sharing his source from the outset and pointing to the very obvious conclusion here: that people give themselves ample leeway in any official permission!

[3put] 30/11/2021 23:36

Have angus got any interested or potential partners for the Lidsey oil well if the remapping is favourable. Asked on 27 October 2021
We have had discussions in outline with one potential set of partners – but we don’t expect to get partners to the table before getting a) seismic re-interpreted and evaluated and b) all planning and permitting consents for a side-track

[3put] 30/11/2021 23:35

When do you think you might be able to pay dividends to shareholders? Asked on 27 October 2021
With a successful side track we would hope to be debt free and dividend paying during the financial year beginning September 2023.

[3put] 30/11/2021 23:35

Since the publication of the CPR yesterday there has been much discussion on the forums about the amount of gas that has been hedged each month. This figures show that the hedged sum is up to almost 5.4mmscfd in November 2022 and because the Jan 2015 July 2017 production averaged 4.7mmscfd it has been claimed that Angus has to drill the sidetrack just to cover the volumes required for the hedge. However, further details in the CPR show that 2022 production is predicted to be 2.8 BCF 7.7mmscfd in 2022 and 3.6 BCF 9.8mmscfd in 2023.

So my questions are:

A What is the predicted output of Saltfleetby without the sidetrack being drilled? Will it be enough to cover the 5.4mmscfd of the hedge in November 2022?

B If the sidetrack is successfully drilled, what would you hope would be the total gas output of Saltfleetby mmscfd in a worst, probable and best case scenario?

C Will it be possible to continue producing gas at Saltfleetby while the sidetrack is being drilled or does all production have to stop during this time period? Asked on 27 October 2021
A.The lenders technical advisers and Angus evaluated the deliverability of the existing two wells as being likely to be greater than 5 mmscfd. The reasoning was twofold. In the last years of delivery to the old Conoco refinery, average production was constrained by persistent issues with the main compressor at Theddlethorpe. Secondly it was the view of technical experts that, following a prolonged shut-in, the two wells should have improved deliverability in the first 18 months or so of operations. This is because prior to shut in there was an area of reduced pressure around the producing wells. Since then the pressure has equilibrated across the field resulting in significantly higher pressure around the producers. So it is our view that the hedged production should be able to be covered by these two wells in the event of failure of the sidetrack

B. Finger in the air: Worst 7mmscfd, Probable 10mmscfd, Best 10mmscfd (but extended for a longer period of time) Note, the combined deliverability of the three wells will exceed the production rate during the plateau period which is limited to 10mmscfd by virtue of the process equipment.

C. We believe that simultaneous operations are feasible on this site but we do need to do much more work on how such operations would be conducted.

[3put] 30/11/2021 23:34

1. Overall control & safety system (no DCS, PLC to keep costs down). Use a certified PLC IEC61508 SIL 2/3 certified so that it can also perform the emergency shutdown functions requirements.

All site sites need a Emergency shutdown or what we call a control shutdown,, ALL sites have a PlC regardless!!, and a EBG

2. Fire&Gas detection system, PLC controlled.

This is needed when going into a performance test and reliability test, normally 28 days but we aren’t handing over to a client but ourselfs, but will be needed for insurance reasons and a fire suppression in the control panels and heat and smokes etc

3. Fire protection system(s) - study will define (unknown at present).

Fire risk assessment would of already been done, and when going live then the above would already be in place

4. 1st stage compressor package & controls

Yiu can have first stage and second stage controls are comms and PlC and scada nothing special

5. Dehydration package PLC controlled, own PLC for fast testing installation & commissioning.

Not sure if this is needed as we have condensate pots and Capture control and drain valves, FDS to confirm

6. Joule-Thompson and Dew Point package own PLC controlled for fast testing, installation and commissioning

Part of the GEU, relates to the atmosphere,,

7. 2nd stage compressor package (HPC) & controls.

Not seen anything to suggest a second HPC if so it be a back up and duty assists etc, or it’s only rated to a certain flow so if the side track happens we might need two HPC’s

8. Analyser & Metering Package with own metering PLC.

Told you this is what we call the GEU, grid entry

To carry on
3Put30 Nov '21 - 22:53 - 12410 of 12410
0 0 0
9. Flare & Ignition package.

Nothing to stress about that just proving and commissioning that the flare ignites, said this earlier to you,

10. Fuel gas package under overall PLC control.

Over all site commissioning, this is called login and comms between all all individual kit I.e HPC and Elster,

11. Power generation packages for site power and export surplus power to the national electricity grid. They use fuel gas from site.

Very simple piece of kit dose what it says on the tin makes power from gas just like any other generator dose, this is for sure power put they will also have mains power too

12. Electrical switchgear & control systems

Nothing but electrical cables, Signals cables, and networking cables for internet, all ran in at the same time nothing major just running a cable from a to b

13. Piping works linking all systems together.

Same again install all necessary pipe work to pint your what we call a common line, nothing hard on that at all

[chickbait] 30/11/2021 23:32

The placing last December was 0.6p

If there is another placing could it be lower. Maybe 0.4p?

[3put] 30/11/2021 23:26

Timetable to first gas

1. Overall control & safety system (no DCS, PLC to keep costs down). Use a certified PLC IEC61508 SIL 2/3 certified so that it can also perform the emergency shutdown functions requirements.

All site sites need a Emergency shutdown or what we call a control shutdown,, ALL sites have a PlC regardless!!, and a EBG

2. Fire&Gas detection system, PLC controlled.

This is needed when going into a performance test and reliability test, normally 28 days but we aren’t handing over to a client but ourselfs, but will be needed for insurance reasons and a fire suppression in the control panels and heat and smokes etc

3. Fire protection system(s) - study will define (unknown at present).

Fire risk assessment would of already been done, and when going live then the above would already be in place

4. 1st stage compressor package & controls

Yiu can have first stage and second stage controls are comms and PlC and scada nothing special

5. Dehydration package PLC controlled, own PLC for fast testing installation & commissioning.

Not sure if this is needed as we have condensate pots and Capture control and drain valves, FDS to confirm

6. Joule-Thompson and Dew Point package own PLC controlled for fast testing, installation and commissioning

Part of the GEU, relates to the atmosphere,,

7. 2nd stage compressor package (HPC) & controls.

Not seen anything to suggest a second HPC if so it be a back up and duty assists etc, or it’s only rated to a certain flow so if the side track happens we might need two HPC’s

8. Analyser & Metering Package with own metering PLC.

Told you this is what we call the GEU, grid entry

To carry on
3Put30 Nov '21 - 22:53 - 12410 of 12410
0 0 0
9. Flare & Ignition package.

Nothing to stress about that just proving and commissioning that the flare ignites, said this earlier to you,

10. Fuel gas package under overall PLC control.

Over all site commissioning, this is called login and comms between all all individual kit I.e HPC and Elster,

11. Power generation packages for site power and export surplus power to the national electricity grid. They use fuel gas from site.

Very simple piece of kit dose what it says on the tin makes power from gas just like any other generator dose, this is for sure power put they will also have mains power too

12. Electrical switchgear & control systems

Nothing but electrical cables, Signals cables, and networking cables for internet, all ran in at the same time nothing major just running a cable from a to b

13. Piping works linking all systems together.

Same again install all necessary pipe work to pint your what we call a common line, nothing hard on that at all

[3put] 30/11/2021 23:24

Great debate on lse

[jtidsbadly] 30/11/2021 23:10

Apologies for repetition of that boring post.