Angus Energy Share Discussion Threads

[markbarker] 29/3/2022 15:50

Great post sin been my point all along disgusting behaviour from the crayon eaters

[sincero1] 29/3/2022 15:42

since the start of the year , our resident old grey disingenuous crayon eaters have "saved" "mug punters" from an 81% rise .......and they will still have the stupidity to keep posting negatively ..... bellends......

[markbarker] 29/3/2022 14:59

Jt you raving bell of the end why don't you answer me

[3put] 29/3/2022 13:35

SOU energy moving up, we have turned down one bid at 1.4p already

[3put] 29/3/2022 13:24

Sincero: Cuds is in the Angs group on twitter and sold all his at 0.9 (For a tiny profit) because of the de-ramping on here. Remember the names, HITS/ 1347/ JT / JA & Chick

[3put] 29/3/2022 13:23

Haha, he is kicking himself that he sold at 1p and is now on the rampage. Poor form if you ask me

[headinthesand] 29/3/2022 13:12

It's all the same to me if you cheerleaders keep wanting to ignore and/or drown out the purely factual.

George seems to have clearly confirmed that a successful sidetrack will be needed in order to meet hedged volumes from Oct 22 onwards/ 1.5 million therms is not enough - they need to produce 1.75 million - or pay the penalty.

Also, if one bothers listening to that interview, at no stage did George say that full production would be in May - he stuck to June. It's LSE that seems to have made the May bit up in their titling of this latest piece of puffery.

It remains odd that George tells shareholders that they can "expect" an extra 1.5 million monthly therms from a sidetrack, five months before one's even been attempted. That reminds me of all the positive noises being recently made by 88e about their Merlin-2 well... and that's just turned out not to have gone so brilliantly.

[iceagefarmer] 29/3/2022 12:05

expect minimum 10p bid..aristocracy look after their own especially ones that graft

[sincero1] 29/3/2022 11:55

hits still posting here? how embarrassing .......

[3put] 29/3/2022 11:44

ocelot

Posts: 17,480

Price: 1.175

Strong Buy

RE: London South East interview with George Lucan, MD at Angus EnergyToday 11:36
Up about 10% at present, around the 275p level:

[3put] 29/3/2022 11:28

New update on twitter

[headinthesand] 29/3/2022 11:26

As I've said, George has just effectively confirmed that a successful sidetrack is crucial from Oct onwards, or ANGS will owe Mercuria at least another £500k per month in shortfall on the hedge, going by today's gas futures pricing.

1.5 million therms of production per month (even if achieved) is blatantly obviously not enough when you've hedged a volume of 1.75 million therms a month from Oct 22 to Jun 23...

[3put] 29/3/2022 11:23

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[3put] 29/3/2022 11:21

Debt free by the end of the year!! And either a special dividend or a share buy back

[3put] 29/3/2022 11:08

Recently answered questions
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.



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.

With the placing to raise £1.4m, do you believe Angus are in a stronger position to negotiate a higher price for the sale of all or a part of Saltfleetby? Asked on 3 February 2022
Definitely. To have tried to negotiate with purchasers whilst simultaneously dealing with senior debt providers and having the financial stability of the company in any kind of doubt, would have been very counterproductive for shareholders in the short and long term.

Thanks for the continued updates on twitter. You posted a vdeo of the first pile being driven . One particular disingenuous detractor has suggested you do not have planning permission to do this. Can you please clarify as this appears to be a classic example of the concerted effort to discredit the company. Asked on 1 February 2022
The piles are an integral part of the foundations for three pieces of equipment and are part of the existing approvals for the site. There is no further requirement for approvals for this work.

Hi, please can you confirm that the board will not accept an offer for the company and/or Saltfleetby, unless they feel it represents fair value for the company and its assets. Thanks. Asked on 30 January 2022
We will get the best possible deal for shareholders – weighing in both the amount of any consideration and the nature of the consideration (cash or shares) whether for sales at an asset or at a company level.

Hi, does the company stand by the published CPR Saltfleetby figures – which calculate revenues at multiple times of the current company market cap even before the huge rise in gas prices – and can you promise shareholders this will be taken into account in any negotiations for the sale of the company and/or Saltfleetby? Asked on 30 January 2022
The Company continues to believe that the CPR (albeit with small adjustments for timing of First Gas) as published is a true and fair view. We are conscious that the NPV valuations shown are indeed well above our market capitalisation and we regularly point this out to interested parties.

Once Saltfleetby is in production, will the company commit to buying back a significant proportion of shares in issue to reverse any dilution that has occurred as a result of the historical placings? Asked on 30 January 2022
That is certainly something we would consider doing.

Most long term shareholders don’t want the company sold because some invested at up to the 20p and would never get their money back. If the assets have no so called value by the markets nobody would want to buy them would they. Please consider this message when acting in the best interest of all shareholders. Thankyou. Asked on 30 January 2022
We will bear this in mind. Clearly we are in the happy situation of having many interested parties in this asset and therefore are in a position to seek the best possible bid for shareholders.

Which of lidsey or Brockham will be producing oil first, and within which quarter of 22? Asked on 30 December 2021
We have been notified that the Environment Agency is minded to grant our permit to re-inject water at Brockham but this is subject to a further period of public consultation, so we have not yet advised the market of this development. Assuming the EA encounters no new information during consultation, the permit is likely to be granted during February 2022 and we would therefore expect to restart production at Brockham immediately thereafter as we have already upgraded the site to meet improvement conditions required of us. Other permissions, mostly non-contentious or administrative, being available we would hope that Lidsey production would recommence during Q2 2022.

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.

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.

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).

[jtidsbadly] 29/3/2022 10:51

..and WH Ireland are now short 40,955 shares. Several million-share trades again today. Gneiss must be almost out, there won’t be a placing before they are, what?