Angus Energy Share Discussion Threads

[shareprofessor] 06/1/2022 18:17

Ja51oiler I did warn you that being deceptive would cause you discomfort. You are showing significant discomfiture.
1347 I observe you waited until well after market close to regale us with your thoughts , all that cogitating and that fatuous post is the best you can do. Unquestionably you have nothing to offer here.

[3put] 06/1/2022 17:50

Agree hits, nothing has changed , except for a buyer etc. Share price going up was very predictable as you say.

[3put] 06/1/2022 17:49

The Board of Angus Energy plc (the "Board") whilst remaining fully committed to achieving first gas at Saltfleetby as soon as possible has simultaneously been addressing the urgent need for transition energy projects in particular in the geothermal sector in the south west of England. Even though progress in these twin goals is steady and sure, the Board share the outlook of some of our shareholders that our market capitalisation doesn't reflect the short-term value of existing hydrocarbon assets and their immediate cashflow potential and any long-term value in the Company's scaleable geothermal project.

This valuation mismatch, also experienced by many other smaller energy companies, has resulted in a series of approaches with interest in, and in one instance an indicative non-binding offer for, some or all of the Company's 51% interest in the Saltfleetby Gas Field asset which is under consideration. Additionally, the Board has received indications that certain parties may be interested in making an offer for the Company.

Whilst not wishing to be distracted from our immediate aims we must meet our responsibility to shareholders to evaluate any proposals. As such, the Board has been considering options for the Company with its advisers. In light of these developments, and to better position the Company for further growth, and to maximise value for existing shareholders, the Board has now determined to undertake a review of the strategic options. These options include, but are not limited to, a sale of the Company which will be conducted under the framework of a "formal sale process" in accordance with the Takeover Code.

The Board is unanimous in its support for such a strategic review and has appointed Beaumont Cornish ("BC") as its financial adviser. Parties with a potential interest in making a proposal should contact BC, whose details are set out below.

[3put] 06/1/2022 17:48

You called it right hits, you said it was going up. No meed to make excuses

[headinthesand] 06/1/2022 17:39

What seems to have been entirely forgotten amid all the puff, bluster, smoke and mirrors of today is that (SP spike aside)...

...literally nothing has actually changed.

Poundland still needs to be got into production. The volumes produced still need to be of a sufficient quantity. The debt still needs to be serviced. The hedge still needs to be met. Etc etc etc...

All that's happened is that ANGS has said it's started a formal sale consideration (but without having any formal expressions of interest). Hang on a second. With the greatest of respect to any genuine long-term holders... so what?

[3put] 06/1/2022 17:27

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] 06/1/2022 17:26

There is still a concerted effort, by clearly disingenuous posters ,in online forums to discredited the company and its partners using negative supposition. What does the company intend to do about this ? Asked on 1 December 2021
Healthy debate is genuinely a positive for a company, but there have been a group of concerted individuals, using differing aliases, who have spent three years trashing the company’s previous management, the company and now its new management.

Looking back at their posts: our Saltfleetby Gas Field was first a sham or a fraud “PoundlandR21; asset and not woth anything. Then it was worth something, obviously, but not much and in any case would never be financed. Then it was financed, but would never be built. Then it was revalued at £25m P90 NPV (or expressed as 2P net cash flow to Angus, £55 million) fully financed and being built, but it would never be permitted by EA etc. It goes on.

We are not a company which seeks to Cancel debate; all we can do is steadily progress this project, restore to some value the legacy oil fields which were left to present management, and build out other, alternative energy, demonstratively scalable and commercially valuable projects for our shareholders.

[solo4yous] 06/1/2022 17:11

Jailer why care so much about Angus?

[ja51oiler] 06/1/2022 17:10

You can't argue with stupid or a "MORON" so I shan't bother.

[1347] 06/1/2022 17:09

Ah here come the late trades, rats leaving a sinking ship? Always the same with these companies on AIM.

[3put] 06/1/2022 17:08

The Hedge on gas production/sale of gas, is fixed for 36 months. a member on LSE chat board has stated that even if the loan is paid of early, The Hedge remains in place for the remainder of 36 months. Is this true? Asked on 20 December 2021
Yes, the hedge is for a fixed term on a declining balance which roughly aims to decline wiith the scheduled loan repayments. It would be very likely (asusuming we succeed in obtaining target production from the side track, itself 100% unhedged, and representing windfall gains at present forward gas prices) that the loan would repay earlier, but the hedge would be fixed on that scheduled loan amortisation profile.

However it would be open to the company to break or reset the hedge once the loan was repaid – although this would incur a normal mark to market charge – allowing for more dynamic hedging – i.e. picking particular moments to reset the hedge. The amount of hedged production after, say, two years would be less than c 25% of total production (including production from the sidetrack).

[3put] 06/1/2022 17:07

Will Angus Energy be drilling down to the EGS Super Hot Rock Supercritical Water for the enhancement of electricity production and a smaller footprint per site. Thankyou. Asked on 28 December 2021
We target 200C at c. 5000m. Super hot rock would be signficantly deeper in SW England and could yield > 400C. Some elements of our design incorporate elements common to Super Hot Rock so we follow developments closely, but our focus is on commercial well design – getting cost down away from the government funded figures we have seen to date. Managing temperatures of 400C plus, whilst offering a much better energy yield, present significant cost increases in well drilling and construction and would not be our on our immediate agenda as we approach potential technical and financial partners.

[3put] 06/1/2022 17:07

We understand that there has been a request for minor amendments to planning consents at Saltfleetby Gas Field as a result of changes to the onsite generation capacity, flare and condensate stablisation design, and addtional tree planting. Is the application for variation of planning permission now fully aligned with the Environment Agency Permit application and what is the status of the latter?

Thank you and Happy Christmas wishes to the Angus Team Asked on 30 December 2021
Alignment. Yes the two are aligned. The process is iterative as with all of the regulatory and planning bodies. In this instance further HSE (compliance with PED/PSSR and ATEX/DSEAR) and EA requirements led to modifications in design and layout during the autumn which are now reflected in this application to Lincolnshire County Council for minor variations to our existing consent.

Progress on EA Permit: We have dealt with a number of Schedule 5 notices requesting further information throughout the summer and early autumn and have, as we understand it, only two matters left to resolve. One matter concerns establishing agreement on precise methods of noise modelling and associated software and the other the management of a low pressure, low volume incidental off-gas stream. Both have a variety of highly technical solutions, the choice of which is being discussed with Agency and our various project engineers. We expect to resolve these matters in early January and do not, at the present moment, see either as a roadblock to First Gas.

[shareprofessor] 06/1/2022 16:55

Ja51oiler so you confirm you are ja51oiler here and WG818 on the other site . Hardly a revelation . Begs the question why you need to have 2 different names. You posted originally on the other site as Ja51 so why the name change ? A banning perhaps ? Unfortunately in your penurious attempt to justify your existence here you have only supported the idea that you are deceitful . You are also incorrect again on the points you so desperately attempt to pass as the truth . A repulsive figure.

[solo4yous] 06/1/2022 16:38

Why do you care so much about Angus Energy?

[ja51oiler] 06/1/2022 16:37

Unlike yourself. I only post with one name on each platform. You fool no one with your multiple ID.s!

Just to clarify

They don't have PP to carry out the works

They did run out of money. See the Auditors comments/Half-yearly

They haven't produced any gas to fulfill the offtake agreement and if they sell out won't.

And let's wait until the end of the month after they allow themselves to allot all those new shares that the new mug punters won't be aware of to see if Timber happens.

Total pump and Dump today.....But again well done. Covered over a million or two-odd shortfall and another delay.

[solo4yous] 06/1/2022 16:29

NT for 500k

[shareprofessor] 06/1/2022 16:25

A 1p finish would be very acceptable but I think the actual route of travel will be visualised over the next few days .
I remain ,however despondent , the deceitful posters here have shown their hands today . Futile posts are common on these boards but when one reads 'The sooner the company disappears the better as far as I'm concerned' from the likes of Ja51oiler, outed as a multiple profile holder , indignant, deceitful and lacking of any judgment or knowledge , it leaves me doleful. A particularly repulsive figure.

[ja51oiler] 06/1/2022 16:15

I wonder if Frazer managed to get out? The same sort of thing worked for Ruppert if I remember correctly!

[bionicdog] 06/1/2022 16:12

Wouldn't want to be holding this overnight.