Angus Energy Share Discussion Threads

[shooter mcgavin] 06/7/2022 19:52

So it is essential that sales are made soon.

[shooter mcgavin] 06/7/2022 19:46

Will they tell the market when sales have been made or do we find out in the financials?

[jtidsbadly] 06/7/2022 19:43

Noelpbz: I’m not sure that this is correct. Forward contracts are settled at the end of each contract date at the spot price on that day, as I understand them. So, for the next few months, they’ve sold 1.125 therms per month at about 41p/therm and will have to pay 290p/therm, assuming the current price prevails. A loss of 250p per therm x 1.125mm therms on the volume set in the forward contract. If they manage to produce enough gas to cover the forward contracts, they’ll sell it to Shell at a small discount to the spot price, the net result being they will receive a little less than 41p/therm for it after taking into account the July forward contract cost. Any excess will be sold for a profit. They need to get this plant running soon. The Interim MD alluded to this in his recent interview. If it’s not running by tomorrow, at the current rated capacity of the plant, a loss will begin to accumulate that will be payable at month-end. I’m not sure that the second tranche of money raised from Aleph will cover the July loss if the plant is not running by end-July. The first tranche looks as if it will be absorbed in total by interest, debt repayment, g&a/opex and invoices from suppliers and contractors. And they need to maintain a cash balance of well over £1mm to meet the requirements of the Loan Charge.

[shooter mcgavin] 06/7/2022 19:33

Appreciate that. The price is closer to 3 so do they pay that or do they pay less?

[noelpbz] 06/7/2022 18:35

Shooter - IGNORE that bit - I have re edited BENSHERBs detail as follows :
“The gas will be settled on the Day Ahead market, which is determined by the market each day. For most of summer DA prices have been between 160p and 180p.
The hedge volumes stated are in monthly totals, but ice contracts are for a set volume each day multiples of 5000th/d, so they probably have 35000th/d or 40,000th/d hedged. (Monthly production of 1.5M therms will be 50K therms/day)
While there is no production the contract will cash out at the difference between the hedge price and the DA price. ie Angs owing the nett value of ~ 40kth/d.” - some minor paraphrasing.

[jtidsbadly] 06/7/2022 18:29

noelpbz: how is your 40kthd at £1.2 calculated? The £1.2, not the 40kth/d.

[john henry] 06/7/2022 18:27

Daily price for Uk gas closed today at 290p not sure where he's getting 160p

[noelpbz] 06/7/2022 18:10

Shooter
From Bensherb LSE:
The gas will be settled on the Day ahead market, which is determined by the market each day. for most of summer DA prices have been between 160p and 180p.
The hedge volumes stated are in monthly totals, but ice contracts are for a set volume each day multiples of 5000th/d, so they probably have 35000th/d or 40,000th/d hedged. While there is no production the contract will cash out at the difference between the hedge price and the DA price. ie angs owing 40kth/d at £1.2.

When production kicks in they will get paid any production above the hedge at the DA rate. while this is 160 at the moment, in Europe its at 360p/th. a level where the winter is now trading

[shooter mcgavin] 06/7/2022 17:36

How does Shell pay us for the gas sales?

[noelpbz] 06/7/2022 16:21

From GavinM on LSE “RNS just been logged......judging by the time now that may come out at 7am”. - he’s been right before, proper mystic.

[bobaxe1] 06/7/2022 16:17

Yep set to go !//

[onetomany] 06/7/2022 15:28

2p this week.

[sincero1] 06/7/2022 15:12

another slapping to the old grey stale urine smelling mutton chops is coming........

[gasman10] 06/7/2022 14:31

Padded room :)

[jtidsbadly] 06/7/2022 14:16

Googling what, Jonny?

[3put] 06/7/2022 14:08

FRIENDY sweepstake on the sidetrack ⛽️

21 - 3Put
22 -
25 -
26 -
27 -
28 -
29 -
1 -
2 - Bob
3
4
5

End of Aug
End of Sept

[bobaxe1] 06/7/2022 13:51

2nd of August

[jtidsbadly] 06/7/2022 13:47

Yes, Jonny, i think you’re right - it’s a bit late isn’t it? Poor old Anguish. Are the Directors queuing up to buy some more shares? No? No, I thought not. No one ever accused an Old Etonian of not knowing on which side his bread was buttered, what?

[3put] 06/7/2022 12:36

FRIENDY sweepstake on the sidetrack ⛽️

21 - 3Put
22 -
25 -
26 -
27 -
28 -
29 -
1 -
2 -
3
4
5

End of Aug
End of Sept

[headinthesand] 06/7/2022 12:25

Time for a sweepstake on when the sidetrack attempt is started?

You can forget July 21st, for starters... that's complete pie in the sky.

[gasman10] 06/7/2022 11:44

https://twitter.com/angusenergyplc/status/1544617481725218816?t=6mh2rZIoO79wrXIN7_5F-g&s=19