Angus Energy Share Discussion Threads

[shareprofessor] 08/4/2022 08:03

Onetomany you are quite correct. The oddities that post negativity here are not shareholders so expect a barrage of duplicitous negative malarkey today.

[onetomany] 08/4/2022 07:50

This should move up quite fast now as people buy in for the inevitable rerate. The FSP was a cloud of uncertainty and expected low ball bids. As the board have said all along they are seeking best shareholder return and have clearly indicated the economics. It's obvious that they see significant value to come from the imminent revenue.

[3put] 08/4/2022 07:45

Great news , even HITS wanted this

[onetomany] 08/4/2022 07:43

Value remains 3p+ and we are only weeks away from seeing that. Any games today only present more excellent buying opportunity.

[gaffer73] 08/4/2022 07:42

They didn't do a placing during the offer period did they?

[milliecusto] 08/4/2022 07:41

Bad news, watch this go sub 1p, obviously no value to be released and Sound quite rightly walked away

[1347] 08/4/2022 07:40

As expected, the Sound offer came to nothing, no other offers made. I remain of the opinion that it was all contrived to support the share price and allow more can kicking as they knew First Gas in Q1 was not possible (just one of many missed targets). The FCA and TTP should investigate this whole affair, right back to the placings with warrants over a year ago.

[onetomany] 08/4/2022 07:39

Excellent news. Now true value to be realised in the coming weeks. As predicted.

[shareprofessor] 08/4/2022 07:33

Sound , as I said. was never a serious consideration. The board understands the value of the assets. A good decision by George Lucan. Positive outlook is gathering further momentum. The oddities will , of course, attempt a ridiculous and ill judged derogatory attack . How very odd and incorrect they are.

[iceagefarmer] 08/4/2022 07:14

the leash is off now...lets see true market value now

[gaffer73] 08/4/2022 07:09

Good to see we are not accepting a low ball offer.

[iceagefarmer] 07/4/2022 22:01

gas up 5% tonight $6.5

[noelpbz] 07/4/2022 20:42

Gaffer - I acknowledge any sidetrack production - from Mid August22 to end of Sept 22 will be unhedged (hedging in the period is 1.125M per month until Oct 1st 22)

Sept 22 is Angus Year End - so you argue correct statement.

[3put] 07/4/2022 18:49

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

[3put] 07/4/2022 18:48

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] 07/4/2022 18:48

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

[headinthesand] 07/4/2022 18:39

...and if the sidetrack is unsuccessful as per the last 4 attempts to sidetrack from the chosen well? That'll cost ANGS and SEL around £600k betweren them for the 9 months between Oct 22 and Jun 23, leaving them with a revenue of just c. £140k each at current gas prices.

How is that going to pay for G&A, field operation costs and debt repayment? Let alone the Knowe CLN?

[gaffer73] 07/4/2022 18:31

Not a problem, just a slightly lower revenue. The expected production with the sidetrack is 10mmscfd, 5mmscfd without. I notice the 1.5mm therm was a very approximate figure based on 28 days. If we flow 5mmscfd as expected it works out at 1.6mm therm for July.So to answer your question properly, most of the sidetrack will be un-hedged until next July then all of it will be. Flow rates being as expected of course.

[jtidsbadly] 07/4/2022 18:04

Another 13 million of late-reported trades long after hours this evening. Disgraceful. Could this be selling by individuals who accepted the Sound “bid” on a non-irrevocable basis? More 8.3 forms tomorrow or a placing? Sound pulling out tomorrow, or rolling it over again for another month next Monday? No word from the data room for ages, what? Would that be the room in the Chiswick office on which the Interim MD stated in terms in July 2020 they would not be renewing the lease from September 2020?

What should one conclude that the Interim MD is doing when one sees his lips moving?

[noelpbz] 07/4/2022 17:25

For Gaffer to read - in particular the bottom table viz:

The MAIN Problem

From : Annual Report for P/E Sept 21

Page 67 - Loan Payable
On 17 May 2021, the Group signed a Loan Facility, conditional on the setting of the hedge (see Page 68) and regulatory approval of the royalty from the Oil and Gas Authority, between Angus Energy and Saltfleetby Energy Limited and Mercuria Energy Trading Limited and Aleph Saltfleetby Limited as the co-Lender.
The term of the Loan Facility provides for a four year amortisation loan facility of up to £12 million with a 12% margin over LIBOR, a 3% commitment fee payable out of the facility, a share granted of 30 million shares in Angus, issued over the life of the facility and an override of 8% of gross revenue following the repayment of the facility.



Page 68 - Derivative Liability
On 01 June 2021, Angus Energy Weald Basin no. 3 Limited (AWB3) entered into a derivative agreement with Mercuria Energy Trading SA (METS) under a Swap contract as part of the condition of the Loan Facility (see Note 23). The derivative instrument was used to mitigate price risk on the expected future cash flow from the production of Saltfleetby Gas Field. Under the Swap contract, AWB3 will pay METS the floating price while METS will pay AWB3 the fixed price on the sale of gas from the field.





Period ———;——Quantity in Therms ——Fixed price/therm

1-Jul-22 - 30-Sep-22 ———;3,375,000—212;—-41.40p
1-Oct-22 - 31-Mar-23 ——-10,500,000–——-52.05p
1-Apr-23 - 30-Jun-23 ———;5,250,000–212;——37.55p
1-Jul-23 - 30-Sep-23 ———;4,500,000–212;——37.55p
1-Oct-23 - 31-Mar-24 ———;9,000,000–212;——46.55p
1-Apr-24 -30-Jun-24 ———;-4,500,000–———35.60p
1-Jul-24 - 30-Sep-24 ———;3,750,000–212;——35.60p
1-Oct-24 - 31-Mar-25 ———;7,500,000 ———;-45.00p
1-Apr-25 - 30-Jun-25 ———;-3,750,000–———-35.25p

[headinthesand] 07/4/2022 17:24

Hi Noel. Your command of maths is spot on.

George's two recent statements simply cannot both be true, because no matter how you look at it, 1.5 million is a lower number than 1.75 million.

Therefore ANGS really REALLY needs that sidetrack to be successful and deliver a production increase. Or at current gas pricing it'll cost them and SEL about £600k a month for 9 months (paid to Mercuria, who really did get themselves the most sweetheart of win-win deals) to make up the shortfall in the swap contracts.

[noelpbz] 07/4/2022 16:56

gaffer -- we then have a problem - the hedged production from 1st Oct is 1.750M therms per month.

[gaffer73] 07/4/2022 16:43

It could be true.

[noelpbz] 07/4/2022 16:27

3put - your post quoting the GL interview refers to the sidetrack as "totally unhedged for the remainder of the year" Can this be true ??