Angus Energy Share Discussion Threads

[headinthesand] 08/4/2022 13:44

"Furthermore, shareholders can expect 1.5M therms of gas to be produced from May"

If George ever said this, the company has conclusively corrected this statement with today's second RNS.

First gas is not being reached until June.

[sincero1] 08/4/2022 13:37

I thought I would leave my game of water polo just to see the predictable reaction from the resident old grey disingenuous crayon eaters following todays rns'. usual negative supposition , desperate to find the negatives. reality is things are going well hence the market is not bothered judging by price and just showing what little these nobodies know. hits really has just become a tiresome boring bitter investor..price still over 20% what he sold out at and its killing him... wait and see kiddies...pahahaaa... I'm off for another mojito..i will be back to point and laugh at you bellends next week.

[3put] 08/4/2022 13:33

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] 08/4/2022 13:32

maybe Shell will buy out ANGS ??

[3put] 08/4/2022 13:32

maybe Shell will buy out ANGS ?? hxxps://www.cityam.com/shell-to-invest-25bn-in-uk-energy-systems/

[onetomany] 08/4/2022 13:00

More great news. It's going to be a very exciting few weeks and expect to see a surge in the share price. Could easily be 5p when gas confirmed

[headinthesand] 08/4/2022 12:55

"Continues to target"... you have to love those weasel words.

Much like "is aiming for", "has confidence in", "continues to hold and encourage suppliers and contractors".

I think George with the help of LSE has got himself into a real pickle with some of his recent statements (e.g. "1.5 million therms = £7.2 million of revenue") and with the wild and utterly unachievable projections in the LSE summary of his recent interview ("shareholders can expect production of 1.5 million therms in MAY"). May FFS...

This is a very rushed RNS - and even with the caveat of the usual ANGS weasel words, claiming that first gas and full production will be simultaneously achieved on June 1st, thus delivering a full 1.5 million therms of production within the month of June is utterly ridiculous.

And on top of everything else, still 500 of the 1,000 welds started in January to go. Oh dear. What a tangle his lordship has got himself into.

[1347] 08/4/2022 12:27

I see they've published an updated timeline. Where do any safety checks and approvals by the National Grid, HSE etc. occur? Do they expect it to be within those timescales? If so then they are implying that by 1st June 2022 they will have had 'the nod' from one and all and can then supply gas to the grid at full bore (whatever that will be for the existing wells)? Or is it more a case of being economical with the actualité?

[3put] 08/4/2022 12:10

The Company continues to target First Gas by 1 June allowing for one full month of unhedged production. 

[3put] 08/4/2022 11:48

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."

[onetomany] 08/4/2022 10:50

Will close blue ... best news yet that sale aborted as it would have seriously undervalued vis à vis what we are about to see in May.

[1347] 08/4/2022 10:48

JA Yes the window of opportunity for the sidetrack was missed last year. "Target mobilisation of rig is slated for first week in October". They've never explained why it wasn't, they had the funds and had had plenty of time to plan it. Just one of many pieces of misinformation that has come out of this company.

[3put] 08/4/2022 10:29

All aboard the Angus Express…

“…All of which leaves companies with gas projects ready to go like @angusenergyplc in a strong position. After several dry years #ANGS seems set to spark into life this summer as production gets underway…̶1;

[...]

[3put] 08/4/2022 10:28

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] 08/4/2022 10:21

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

[ja51oiler] 08/4/2022 10:16

1347
What is comical regarding the sidetrack (besides the point they should quite obviously done it last year) (Only makes you wonder how hopeful they are how successful it will be, as to why they didn't) is the fact that they told us they were planning to drill the sidetrack and install all the equipment at the same time starting on January the 4th I think it was!? Like that was ever going to be achievable looking at the works going on (albeit slowly) now!

As you say I am yet to be convinced the HSE will give them permission for simultaneous production and sidetrack works taking place! That's a lot of money to pay Mercuria to fulfill those hedge commitments if they cant!

[jtidsbadly] 08/4/2022 09:59

1347: he did suggest end-May in the Report and Accounts, what? It’s going to be much later and unless he’s got a wink and a nod from the Lenders (in which case we should probably have been told), Poundland will be owned by then in three or four months time. Good show.

[1347] 08/4/2022 09:46

How Can Lucan state they have confidence in first gas in June has risen when as far as I know no formal statement has been made about first gas being in June at all.

George Lucan, CEO, commented: "Our Competent Persons Report of October 2021 gave a P90 valuation of £24 million (P50 of £34 million) to our interest in Saltfleetby, since which time confidence in our ability to achieve First Gas in June has risen, and the wider market has reflected this in our own share price."

In fact the previous announcements to market stated the following:

"Uncertainty remains around the delivery of three final skids on the above table - two of these due to a common sub-component. The Company continues to hold and encourage suppliers and contractors to work to a First Gas date in Q1, but will advise further on this date when able so to do, and does not presently anticipate any delay to shift more than 20-30 days into April."

[jtidsbadly] 08/4/2022 09:40

Why has he resiled from his optimistic forecasts of the past month or three, to the forecasts made in the CPR? None of this adds up. If I refer to the Interim MD as Tantalus in future, you will know why.

[1347] 08/4/2022 09:37

At first I wondered why a placing hadn't been done when the share price was circa 1.4 p but I now think that was because potential placees wanted the placing price to be rock bottom, so that period may have been used to forward sell them (note the sales by Marr and Roberts, possibly others) and also possibly to offload the Gneiss settlement shares and any overhang from the previous placing. I suspect Anguish were told that any placing would be supported only at a fairly low price (the last one was 0.80 p). Of course forward selling shares is questionable, especially in an FSP period, but with the Nelsonian like muppets in the FCA and TTOP it seems almost anything goes on the AIM Laundromat.

As for the dates. Lucan just waffles unconvincingly around what is obvious, it's slipping still further. I've recently revised my long standing forecast of May 2022 to July 2022 at best and even that may now be somewhat optimistic. As for the sidetrack, the big question remains, will they try and do it sooner, i.e. before first gas or push it back to later as I really doubt they can drill and process gas at the same time on the same site.

We'll see but the journey along Snake Pass on a dodgy bus with a dodgy driver continues.

[onetomany] 08/4/2022 09:29

Or as and adult.