Angus Energy Share Discussion Threads

[stockhunters] 01/4/2022 11:52

headinsand not sure why you continue to post

[jtidsbadly] 01/4/2022 11:51

HITS: end of this month? Did you read the Investor Questions answers? One or more skids is going to be later than predicted. It doesn’t matter much which, they've all got to be connected up with welded pipes and that will take time. Do they hire TEI by the week or until the job is finished? In any case, the “final” two skips are not due before 27and 29 April. The Interim MD’s advice to investors this morning to do their own research is a bit late in coming, but correct.

[3put] 01/4/2022 11:49

You post 24/7 - Nobody here believes you HITS. Clearly an agenda - Even a blind man ridging a galloping horse can see that from a mile away

[3put] 01/4/2022 11:48

1. If ANGS doesn't produce at least 1.125 million therms - There you go again, what if it produces 4m?


2. And if ANGS doesn't produce at least 1.75 million therms from October 1st, it's again screwed - 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] 01/4/2022 11:46

Therefore by your own admission , you have no interest in the share. What we want is a fair Mcap and going by your pessimistic numbers it should be 100m.

[headinthesand] 01/4/2022 11:40

Stockhunter, I don't think even the company is expecting first gas by the end of this month. However, although that's obviously an essential milestone, it's full production that is (obviously) the only thing that matters - and I'd expect June best case for that.

(It absolutely has to start July 1st - or ANGS is going to owe Mercuria potentially hundreds of thousands of pounds on any June hedge shortfall).

So do I think the ANGS board is pushing as hard as it can to get there? One would hope they've been doing nothing else since they first acquired the field coming on three years ago.

I got out of ANGS months ago at 1p, making a small but irritating pound note loss and am on balance more than happy that I've stayed out. This is a squeakily tight digital situation. Basically:-

1. If ANGS doesn't produce at least 1.125 million therms from July 1st, it's screwed, defaults on both the loan and the hedge, and the lenders/hedgees get the field (and Mercuria sits in both those chairs). However, although now very tight, this is still just about do-able.

2. And if ANGS doesn't produce at least 1.75 million therms from October 1st, it's again screwed, wth all the same consequences. This is a lot higher risk, because to get that extra required production, a successful sidetrack will without a doubt be required. The last 4 attempts from the well to be sidetracked have all failed and ANGS cannot afford to stop production while a 5th attempt is being made.

This really isn't as nailed on as the ramptastic squad next door would have the unwary believe.

[3put] 01/4/2022 11:34

Even by HITS most pessimistic outlook , he would agree that 100m mcap is fair based on HIS calculations

[3put] 01/4/2022 11:33

See that, its always the same names.

[3put] 01/4/2022 11:26

HITS and the rest of the gang should really say sorry to those that sold out sub 1p due to the deramping and fake news

Cud is completely broken having sold all of his for a tiny profit

[3put] 01/4/2022 11:08

I assume you sold your holding before gas prices 10 bagged? as I say it is never to late to get back in things only getting started

HITS stated he sold all his at 1p and then laughed at others for not doing the same.

[1347] 01/4/2022 10:38

HITS Up to you of course, but I have better things to do than BB 'missionary' work.

[stockhunters] 01/4/2022 10:36

I assume you sold

[3put] 01/4/2022 10:30

HITS

Finally! A realistic revenue projection (presuming the sidetrack succeeds). Well, it'll be closer to £25 million a year,

- what should the mcap be then? Pe of 5 would be 100m. Sound fair.

[3put] 01/4/2022 10:20

That is from a recent RNS

[3put] 01/4/2022 10:19

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] 01/4/2022 10:19

Have a listen to this interview HITS

[3put] 01/4/2022 10:19

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: