Angus Energy Share Discussion Threads

[3put] 06/4/2022 15:03

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] 06/4/2022 15:03

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] 06/4/2022 15:02

1.are they going to install a CHP? And never hopefully look at using the flare other then emergencies?,

2.are they going to look at investing in a AD plant so they always have a gas supply when the gas field Depletes?,

3. Would ANGS look at a investing in a CHP that can take natural gas?, and hydrogen?, maybe they need to speak to 2G as there at the top of there game in this Industry, and by having a a AD plant they would also get paid for the final cake dry matter and used as a fertiliser,,
Also I would be asking they could be getting paid from a local council to take food sate too!!, Asked on 31 March 2022
We won’t need to use the flare as part of normal operations although a tiny amount of gas is continuously burned in order to maintain a pilot light, much as on a traditional household boiler.

We do have gas fired generating plant on site to drive the compressors and provide site power. This is the most efficient way of producing and using off-spec gas which cannot be sold into the national gas grid and is an environmentally friendly solution in a remote location without an industrial scale connecton to the electric grid.

We also have been in touch with local landlords regarding the site’s potential to provide heat, CO2 and surplus electric to support vertical farming operations in neighbouring fields. This is likely to be a programme for consideration a year’s hence, alongside a relatively inexpensive geothermal power generation scheme using the Sherwood Sands reservoir

[headinthesand] 06/4/2022 14:51

Blatant porkie #1


"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."

The technical term for this statement is a blatant lie. IF (and it's a pretty major if) ANGS manages a full month of production in June this year, the June gas price is 258p per therm. 258p x 1.5 million therms = £3.87 million, of which ANGS would get half, so £1.74 million.


Blatant porkie #2

"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%."

This is also known as a blatant lie. George just told us (see quote above) that he hopes for 1.5 million therms of monthly production from the two current producing wells. Unfortunately, the amount of monthly gas the company has hedged from Oct 22 onward exceeds that - it's 1.75 million therms. Therefore a successful sidetrack is a) 100% necessary and b) even if successful, at least part of what it produces will absolutely be hedged. If unsuccessful, the shortfall on the hedge will cost ANGS/SEL in excess of £600k per month for nine months.

[3put] 06/4/2022 14:41

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] 06/4/2022 14:40

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] 06/4/2022 14:40

European natural gas edged higher as traders weighed the prospect of more sanctions on Russia against currently stable flows from the country. [...] via @markets

[3put] 06/4/2022 14:39

I think Hits asked those questions

[3put] 06/4/2022 14:38

1.are they going to install a CHP? And never hopefully look at using the flare other then emergencies?,

2.are they going to look at investing in a AD plant so they always have a gas supply when the gas field Depletes?,

3. Would ANGS look at a investing in a CHP that can take natural gas?, and hydrogen?, maybe they need to speak to 2G as there at the top of there game in this Industry, and by having a a AD plant they would also get paid for the final cake dry matter and used as a fertiliser,,
Also I would be asking they could be getting paid from a local council to take food sate too!!, Asked on 31 March 2022
We won’t need to use the flare as part of normal operations although a tiny amount of gas is continuously burned in order to maintain a pilot light, much as on a traditional household boiler.

We do have gas fired generating plant on site to drive the compressors and provide site power. This is the most efficient way of producing and using off-spec gas which cannot be sold into the national gas grid and is an environmentally friendly solution in a remote location without an industrial scale connecton to the electric grid.

We also have been in touch with local landlords regarding the site’s potential to provide heat, CO2 and surplus electric to support vertical farming operations in neighbouring fields. This is likely to be a programme for consideration a year’s hence, alongside a relatively inexpensive geothermal power generation scheme using the Sherwood Sands reservoir

[1347] 06/4/2022 14:29

Seems to be a discrepancy of 1,000,000 shares between what Clive Roberts sold and what the new total is. Have I miscalculated or has he maybe borrowed Lucan's calculator?

Weebun the people that have most undermined Anguish Energy are the Board of Directors, past and present, by making a series of what many consider to have been misleading statements and presentations and failing to deliver a single successful project thus far. Go have a dialogue with them.

[headinthesand] 06/4/2022 14:15

They're now predicting gas at 765p per therm next door, based on some utter nonsense. That's about 3 times higher than it is at the moment.

And of course what the muppets don't realise (and the rampers do their best to cover up) is that increased gas prices would actually make the need for a successful sidetrack even more crucial. Gas at 765p per therm would actually have ANGS and SEL owing Mercuria £1.8 million a month between them from Oct 22, if the sidetrack fails.

The level of ignorance is all a bit sad, really.

[weebun] 06/4/2022 14:06

Roberts and Marr still hold a great deal of Angus shares why do you strange people constantly try to undermine Angus the question is are you employed by someone maybes Sound Energy?

[1347] 06/4/2022 13:44

JT Well yes in my opinion it was, as were much of the various paid for TV 'interviews'. As you indicate quite blatant really given how things turned out. So much so that I fail to see how the regulators can turn a blind eye to it, but they do don't they. The FCA is not fit for purpose and probably never has been.

[jtidsbadly] 06/4/2022 13:39

Another look at Clive Roberts’s sale suggests that he’s sold all the shares that he hadn’t committed to the Sound “bid”. Sebastian Marr and the two Robertses have all sold shares in the past week or so. I’m surprised this has received no comment elsewhere, it’s usually unwise to buy while insiders are selling.

[3put] 06/4/2022 12:49

European natural gas edged higher as traders weighed the prospect of more sanctions on Russia against currently stable flows from the country. [...] via @markets

[jtidsbadly] 06/4/2022 12:22

...and I see that Clive Roberts has now sold almost half his shares in Anguish. Squeaky little creatures departing a sinking ship?

[stockhunters] 06/4/2022 12:22

hope no one got shaken out this morning

[headinthesand] 06/4/2022 12:09

My post above is entirely accurate in everything it states and what's more, is very easily verifiable as being so. There's no point objecting to facts... because they're facts.

As to SOU, if ANGS ends up selling itself to that debt-strapped cash-starved minnow for some all-confetti offer, we'll know for sure that George didn't believe a single word of his recent projections.

[weebun] 06/4/2022 12:04

Incessant negative posts by inaccurate person or persons must have an income source could yours possibly be Sound Energy?.

[headinthesand] 06/4/2022 12:03

Blatant porkie #1


"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."

The technical term for this statement is a blatant lie. IF (and it's a pretty major if) ANGS manages a full month of production in June this year, the June gas price is 258p per therm. 258p x 1.5 million therms = £3.87 million, of which ANGS would get half, so £1.74 million.


Blatant porkie #2

"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%."

This is also known as a blatant lie. George just told us (see quote above) that he hopes for 1.5 million therms of monthly production from the two current producing wells. Unfortunately, the amount of monthly gas the company has hedged from Oct 22 onward exceeds that - it's 1.75 million therms. Therefore a successful sidetrack is a) 100% necessary and b) even if successful, at least part of what it produces will absolutely be hedged. If unsuccessful, the shortfall on the hedge will cost ANGS/SEL in excess of £600k per month.

[3put] 06/4/2022 12:01

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: