Angus Energy Share Discussion Threads

[3put] 23/3/2022 20:01

Plenty of gold producers with half the mcap of GGP with similar grades. GGP is a pump imo

[chickbait] 23/3/2022 19:13

sincero1 my average on GGP is 3p you EEEEMBECEEEELE...

[sincero1] 23/3/2022 19:01

chickbait you stupid stupid boy.....
... I tried but you are beyond help. I pity you.
mind.org make that call.

[gaffer73] 23/3/2022 18:28

It's not going into production under Mercuria's ownership though. 10 week's to complete the site works and commissioning, it's going to be close but I think they'll do it. Look back 10 week's and Saltfleetby site B was only a part concrete area with three well heads, a membrane and a fence.....or basically a field.

[3put] 23/3/2022 17:57

Would need to be north of 3p

[3put] 23/3/2022 17:56

Or SOU if they increase the 1.4p bid that has been rejected

[jtidsbadly] 23/3/2022 17:23

HITS: Gaffer has fallen into the trap of associating Angus with Poundland. The boot will be on the other foot if Poundland is put into production under Mercuria’s ownership.

[weebun] 23/3/2022 17:20

That’s if he gets out of bed

[3put] 23/3/2022 17:05

I'm going to ask you really nicely Hits, why are you doing it? I'm actually fascinated.

[3put] 23/3/2022 17:04

'how much gas and by when' I'm going to frame that and stick it up in my office

[3put] 23/3/2022 17:00

Hit and JT must get out of bed each day and think I'm really going to stink the place out today. In all my years I've never seen deramping quite like it.

[headinthesand] 23/3/2022 16:59

Gaffer, perhaps once Poundland is producing enough. And in time.

[3put] 23/3/2022 16:58

Haha, both question can be asked on Angs investor page

[headinthesand] 23/3/2022 16:31

I would like to ask George if - as he has very recently stated - a full month's production from Poundland is 1.5 million therms, how can he then possibly state that production from any successful sidetrack would be entirely unhedged... when the fixed monthly volumes he's actually hedged are 1.75 million therms per month for the nine months from Oct this year?

[weebun] 23/3/2022 16:15

Keep up the good work

[3put] 23/3/2022 15:51

George Lucan, CEO, commented:

"The focus is now away from skid delivery to installation with the aim of having the site ready for commissioning during April and producing during May. The present gas price forward curve shows very high average prices of over 400 pence per therm for 2022.

In fact, gross production, of which we have a 51% share, solely from the existing wells and which is wholly unhedged for the month of June, is expected to yield 1.5 million therms or gross revenue of £7.2 million at today's forward price for that month alone.

Gross production solely from the side-track, should it be successful, is again wholly unhedged for the remainder of the year and is expected to yield a further 1.5 million therms each month of which Angus share is 51%.

The forward curve remains very high and seems likely to remain high this year and the company is more than anyone else acutely conscious of the need to preserve our timeline in order to provide value to shareholders whether through revenue sales or corporate action."



Formal Sale Process ("FSP")

Any interested party will be required to enter into a non-disclosure agreement with the Company on terms satisfactory to the Board. The Company then intends to provide such interested parties with certain information on the business, following which interested parties will be invited to submit their proposals to Beaumont Cornish Limited.

Further announcements regarding timings and procedures for the FSP will be made as appropriate.

The Board reserves the right to alter any aspect of the process or to terminate it at any time and will make further announcements as appropriate.

The Board also reserves the right to reject any approach or terminate discussions with any interested party or participant at any time.

The Takeover Panel has granted a dispensation from the requirements of Rules 2.4(a), 2.4(b) and 2.6(a) of the Takeover Code such that any interested party participating in the formal sale process will not be required to be publicly identified as a result of this announcement (subject to Note 3 to Rule 2.2 of the Takeover Code) and will not be subject to the 28 day deadline referred to in Rule 2.6(a), for so long as it is participating in the formal sale process. Interested parties should note Rule 21.2 of the Takeover Code, which will prohibit any form of inducement fee or other offer-related arrangement, and that the Company, although it may do so in the future, has not at this stage requested any dispensation from this prohibition under Note 2 of Rule 21.2. Following this announcement, the Company is now considered to be in an "offer period" as defined in the Takeover Code, and the dealing disclosure requirements summarised below will apply.

This announcement is not an announcement of a firm intention by any party to make an offer under Rule 2.7 of the Takeover Code and there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made.

END.

[3put] 23/3/2022 15:49

Hello, Are you able to share with shareholders the impact the current very high! gas price has on the economics of the Saltfleetby field? To that end, will these vastly improved numbers be taken into consideration when discussing a possible sale with interested parties? Thank you. Asked on 28 February 2022
The economics of the field looking great – principally because the forward curve is so greatly improved. See



(to get pence/therm from $/mmbtu divide by 1.35 for the exchange rate and multiply by ten). Current prices are high at 225p/therm but they are even higher in March 2023! Even as far out as March 2024 they are 130p/therm or over two and half times the 10 year average of 50 p/therm we made our initial projections on in 2020.



Hi, If the best offer on the table as a result of the FSP is not considered fair value and acceptable by the Board, is walking away from the FSP and moving full steam ahead with Saltfleetby as 51 owners still an option for the company? Thanks. Asked on 24 February 2022
We are not bound to pursue the FSP until we have found a buyer. We entered into it to see what the market was for Angus and its assets as we review all possibilities for our future direction whether in hydrocarbons and/or alternative energies.

With production at Saltfleetby tantalisingly close and gas prices at an all time high, can you expand on the decision to launch the FSP? Shareholders are concerned that suitors may be able to secure Saltfleetby and/or the company on the cheap – particularly given the volatile international markets caused by Russia’s invasion of Ukraine. What can the Board do to prevent this? Asked on 24 February 2022
Interest had already been expressed in Saltfleetby over the previous two years. Continued interest and a formal approach for Angus shares encouraged the Board to open the doors to further buyers so as secure the best price for shareholders and to draw attention to our undervalued shares. After all we had a market capitalisation of £6 million at one point last year, with an interest in Saltfleetby conservatively valued at £24 million.

hi, what is the current state of play regarding the permissions for Saltfleetby, Brockham, Lidsey, Balcombe? Asked on 15 February 2022
Re Environment Agency. We believe that we can expect EA permission for Brockham in the near future. Saltfleetby we reasonably believe should be available in draft form within a month. Our Balcombe site is also under review by EA and we hope to obtain that permit in H1.

Re Local Authorities: we are seeking permission to abandon the Kimmeridge and perforate the Portland at Brockham, but do not require permission to reinject water produced at Brockham. Our appeal at Balcombe is likely to be heard before the end of Q3. Our variations of existing planning permissions for Saltfleetby are very minor and are expected to be approved in March.

Will Angus shares be suspended before any deal announcement. Asked on 14 February 2022
I don’t believe so.

[3put] 23/3/2022 15:49

is there any update on the Passive Dehydration, Joule Thomson and Condensate Stabilisation skids, timetable for delivery to site? Asked on 28 February 2022
We advised that these three skids could slip 20-30 days into April and we continue to strongly support that advice.

Hello, Are you able to share with shareholders the impact the current very high! gas price has on the economics of the Saltfleetby field? To that end, will these vastly improved numbers be taken into consideration when discussing a possible sale with interested parties? Thank you. Asked on 28 February 2022
The economics of the field looking great – principally because the forward curve is so greatly improved. See



(to get pence/therm from $/mmbtu divide by 1.35 for the exchange rate and multiply by ten). Current prices are high at 225p/therm but they are even higher in March 2023! Even as far out as March 2024 they are 130p/therm or over two and half times the 10 year average of 50 p/therm we made our initial projections on in 2020.