Angus Energy Share Discussion Threads

[3put] 31/3/2022 21:39

LondonSouthEast ;

Posts: 207

Price: 1.15

No Opinion

London South East interview with George Lucan, MD at Angus EnergyToday 17:11

We were delighted to catch up with George Lucan, who hasn't been able to do many interviews lately because of the restrictions imposed by the Takeover Panel.

What he was able to say today was: "We are continuing to be in discussions with parties." And: "The one thing I can add is that as a board we have worked so hard for this we are not about to give this away for 'a song'. We will drive the hardest bargain that we can in this environment."

Furthermore, shareholders can expect 1.5M therms of gas to be produced from May, and a further 1.5 M therms from the sidetrack well in August (51% of which goes to #ANGS making them debt free by the year end)- and Brockham is to start producing again after a two year hiatus. Please view the interview here: 

[jtidsbadly] 31/3/2022 21:36

1347: and, by the way, all this talk of early payment of the loan misses the point. If cash flow from the project is strong enough to allow early repayment, the royalty will give the Lenders a greater return than the interest on the full loan. It would be better for Anguish to repay the loan as late as possible, but that’s not what they negotiated, is it?

[jtidsbadly] 31/3/2022 21:32

Weebun: what do you take issue with?

[jtidsbadly] 31/3/2022 21:30

The trouble with someone taking Anguish over is that the hedge contracts account for a lot of the future profits, and output from Poundland starts to fall off a cliff after about four years. There are bigger tax losses available in other companies. It’s possible someone might be interested in long-term gas storage, I suppose. But we don’t even know if they’ll drill a successful sidetrack, failure to do which would mean that profits over the next three years will be hard to come by. There may also be issues with the two existing wells, it’s a risk.

I think the Interim MD (are they still looking for someone with some oil and/or gas experience?) may get away with his interviews over 2020/1. But this week’s interview seems to me to be a different matter. If his confident forecasts turn out to be bs and the company gets absorbed by Mercuria, I would be surprised if someone on the other site doesn't want to consult Messrs. Sue, Grabbit and Run. James11 had 3% of this before the last three or four placings and he’s not the only one to claim a large holding.

[weebun] 31/3/2022 21:18

You may have been talking rubbish for a few years but your last post is unequivocally the craziest.

[3put] 31/3/2022 21:16

This is going to be front page news when we get going. Bbc main article tonight is about Gas

[3put] 31/3/2022 21:09

Questions answered on Angs Website

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

[3put] 31/3/2022 21:06

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."

[1347] 31/3/2022 20:55

JT I agree, I will assume it's all been contrived, using Sound as a stalking horse, until I see some concrete evidence to the contrary. The only thing that works is if someone with deep pockets is prepared to settle the loan, do something about those hedges and royalties and it's still worthwhile to them to do so to get at those accumulated tax losses and benefit from the high gas prices.

I'd expect that anyone with that sort of clout would have figured it out by now, after all the interim MD said on the 17th January 2022:

"Angus is not a large and complicated group and the Company does not envisage an extended period of time will be necessary for the Parties to complete due diligence, other than that involved in familiarising themselves with the documentation details of the £12m Saltfleetby Gas Field Development Loan Facility (the "Loan") and associated security arrangements and gas sales hedge ("Hedge")."


As I've said before, in my opinion it's just more cobblers and this company and it's directors should be investigated.

[jtidsbadly] 31/3/2022 20:34

That’s not entirely what I meant. It may end up being sweeter for just one of them.

Incidentally, if they’re seriously considering the sale of Poundland, they’re leaving it late. It took six months to get an agreement with the Lenders on the loan itself and that involved multiple lawyers and separate documents, etc. How long would it take to get their sign-off to a sale of Anguish’s principal asset, which, if it can’t be sold, may end up gratis in the Lenders’ ownership anyway, where it will be a valuable acquisition. A sale of Poundland is surely quite unlikely to happen?

[weebun] 31/3/2022 20:02

That would be sweeter for all three participants don’t you agree.Unfortunately not for the public.

[chickbait] 31/3/2022 19:55

3.put. Are you still going to upload up to date drone footage of site tomorrow as promised?

[jtidsbadly] 31/3/2022 19:44

Yes, there’s a fair chance the gas price will go even higher, possibly even a lot higher. Mercuria negotiated a sweet deal with this finance expert. It may get a fair bit sweeter.

[weebun] 31/3/2022 19:37

Blades of steel who will blink first the EU or Russia euros or rubbles gas or no gas maybe hits could give his knowledgeable valuation of the gas price if all goes belly up and rubbles not considered legal tender.

[3put] 31/3/2022 16:37

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."

[3put] 31/3/2022 16:36

LondonSouthEast ;

Posts: 207

Price: 1.15

No Opinion

London South East interview with George Lucan, MD at Angus EnergyToday 17:11

We were delighted to catch up with George Lucan, who hasn't been able to do many interviews lately because of the restrictions imposed by the Takeover Panel.

What he was able to say today was: "We are continuing to be in discussions with parties." And: "The one thing I can add is that as a board we have worked so hard for this we are not about to give this away for 'a song'. We will drive the hardest bargain that we can in this environment."

Furthermore, shareholders can expect 1.5M therms of gas to be produced from May, and a further 1.5 M therms from the sidetrack well in August (51% of which goes to #ANGS making them debt free by the year end)- and Brockham is to start producing again after a two year hiatus. Please view the interview here: 

[3put] 31/3/2022 16:36

LondonSouthEast ;

Posts: 207

Price: 1.15

No Opinion

London South East interview with George Lucan, MD at Angus EnergyToday 17:11

We were delighted to catch up with George Lucan, who hasn't been able to do many interviews lately because of the restrictions imposed by the Takeover Panel.

What he was able to say today was: "We are continuing to be in discussions with parties." And: "The one thing I can add is that as a board we have worked so hard for this we are not about to give this away for 'a song'. We will drive the hardest bargain that we can in this environment."

Furthermore, shareholders can expect 1.5M therms of gas to be produced from May, and a further 1.5 M therms from the sidetrack well in August (51% of which goes to #ANGS making them debt free by the year end)- and Brockham is to start producing again after a two year hiatus. Please view the interview here: hxxps://youtu.be/AXgCtePbShc

[3put] 31/3/2022 16:36

SparrowHawk1

Posts: 153

Price: 1.375

No Opinion

RE: Listen to the LSE interview on this websiteToday 16:03
Suck on this swampies
UK REGULATOR WITHDRAWS NOTICE TO PLUG SHALE GAS WELLS AT PRESTON NEW ROAD (PNR) LANCASHIRE SITE – Cuadrilla Resources [...]

[jtidsbadly] 31/3/2022 16:35

HITS: his actions suggest he has insufficient confidence they can make it over the line in time. His words suggest the opposite. In the event that Anguish doesn’t make it, do you think shareholders might have possible recourse to one’s learned friends?

[headinthesand] 31/3/2022 16:18

Well Jtids, I would say his by now infamous "1.5 million therms of gas to be produced in June = £7.2 million pounds of revenue" would seem to be a pretty large kite.

And as for his "Shareholders can expect 3 million therms of production once the sidetrack has been drilled"... I think we can safely say that milord is very definitely counting his chickens before the hens have even had a seeing to.

[jtidsbadly] 31/3/2022 16:00

HITS: perhaps Frazer Lang has got the wind up? If you believe His Lordship’s forecasts, none of this makes sense - takeover or sale. The takeover talk got the first placing away nicely though. Who’s to say the sale talk won’t do the same for the second one? I’m presuming that Fraser is stuck with his % holding until the Sound “bid” finally lapses. Judging from the number of new contributors to the other site, and by the rise in the share price, there will be quite a few disgruntled shareholders if his Lordship is eventually found to have been flying kites in his recent interviews.

[headinthesand] 31/3/2022 15:47

If George is to be believed (make up your own minds... he's not ever turned out to be great with either figures or projections), ANGS would be barking mad to sell either the company or Poundland. (And Mercuria, which currently can expect the lion's share of £2.5 million interest on the loan, plus another £44 million of guaranteed income on the hedge between July 2022 and June 2023 at current gas pricing, would be even more barking mad to agree for Poundland to be sold).

I find it bizarre that the counter-intuitive FSP that George started (just before the last placing) is being allowed to continue. I mean, it's pretty obvious why he started it... but what's the point of letting it drag on? It simply makes it look like he doesn't believe a word of the predictions he's making... or that he's getting very worried about missing the deadlines.

[shareprofessor] 31/3/2022 14:27

The share price remains high. If any of the oddities has called this a pump and dump , where is the dump ? They really do need to understand the definition or more likely stop with the deceptive malarkey.