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ANGS Angus Energy Plc

0.325
-0.05 (-13.33%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Angus Energy Plc LSE:ANGS London Ordinary Share GB00BYWKC989 ORD GBP0.002
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.05 -13.33% 0.325 0.30 0.35 0.375 0.325 0.38 15,747,930 15:40:11
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 3.14M -111.95M -0.0309 -0.10 11.59M
Angus Energy Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker ANGS. The last closing price for Angus Energy was 0.38p. Over the last year, Angus Energy shares have traded in a share price range of 0.32p to 1.95p.

Angus Energy currently has 3,621,860,032 shares in issue. The market capitalisation of Angus Energy is £11.59 million. Angus Energy has a price to earnings ratio (PE ratio) of -0.10.

Angus Energy Share Discussion Threads

Showing 24776 to 24798 of 38175 messages
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DateSubjectAuthorDiscuss
06/7/2022
20:34
Posted on LSE today - New investor questions answered

You expect the 2 wells to produce 1.5 mil therms of gas a month. But am I correct in thinking those 2 wells could produce more?

And would I be correct in assuming there is enough capacity onsite for gas from the two wells up to 3 mil therms?

Regardless of the sidetrack. Asked on 1 July 2022
The field having been shut in for so long, all the technical experts expect increased deliverability during the first six months of production. Additionally it was always open to the old Operator to run the wells a bit harder. Generally there are technical risks to pushing a well too hard, but we think that we could do better than 1.5m therms and, likewise the site equipment has some flex in terms of capacity but it would require some thought and planning.

Will there be further sidetracks at SBY in future to reduce the hedged gas at these high prices. Thankyou, and keep up the excellent work. Asked on 1 July 2022
Yes, although none planned for 2022. We would like to open up the southern lobe of the field in 2023 where we see low cost side tracks for high potential returns.

Hi, can the existing compressors be upgraded to produce more gas if needed. Thankyou. Asked on 1 July 2022
We left space for a third compressor in order to handle any potential pressure drop in the two existing wells. If the sidetrack pressure keeps the average across the three high, then we could use the third compressor to increase flow rates. All of the units were sized around 10mmscfd (the target production after side-track) but were build with a degree of redundancy and subject to risk assessment we could increase flow beyond that amount. That assessment will be easier to do once we have steady flow

Hi as an investor I want to know how you feel about the war in ukraine and oil & gas commodity prices rising? Do you think its going to be good for you on the whole. Asked on 1 July 2022
The war in Ukraine has supercharged the continental European markets but in the UK we pay NBP not TTF. Our UK market is heavily reliant for marginal supply on LNG cargoes from US and Qatar. European markets facing supply constraints as a consequence of the Russia-Ukraine tragedy cannot easily switch to LNG because terminal capacity to receive LNG cargoes on the continent is limited. So the UK is not as affected by the conflict as many others.

The real problem is the global dearth of investment in new supply. Take it as read that the timelag from identfication to realisation of a decent gas field is a five to ten year affair. The period of 2015/16 to the end of Covid in 2021 saw the lowest levels of investment in new capacity in 40 years in part because of the commodity price slide in early 2016 and then as a consequence of the impact of climate change activism.

The result is that we are unlikely to see new capacity added in great quantity until 2026 whatever the Russians do. Unfortunately many of the largest fields were in Russia and smaller operators running smaller fields still struggle to raise funds – particularly for exploration or early stage development.

So Angus does see an ongoing high price for natural gas and, to help in our geothermal ambitions, for electricity production which still relies overwhelmingly on gas fired generation. This will be good for shareholders.

3put
06/7/2022
20:30
1347 - yes, perhaps I should have said “ from which Angus will nett 41.4p/therm”.
noelpbz
06/7/2022
20:24
noelpbz: futures contracts work in different ways from forwards. The gas price when the contracts were signed was much less volatile, though by the time their terms were revealed the price looked a bit on the low side! I don’t think it was designed as a hedge. I think it was designed as a money-spinner for Mercuria. It’s an usurious loan but it was all Anguish could find at the time. Other than a $20mm loan they claimed they were offered by a bank a year or more earlier, which they turned down because it seemed too much money! This isn’t a very well-managed company.

Yes, if Anguish’s forecasts are, for the first time, accurate, they’ll make a great deal of money on their unhedged production.

jtidsbadly
06/7/2022
20:18
https://twitter.com/EggySoldier/status/1544741915794575364?t=c3Ob2UzVjNKc4vp-GbVBGg&s=19If the talking heads are right.....
gasman10
06/7/2022
20:17
How does that work? They buy the gas and then pay the hedge ?
shooter mcgavin
06/7/2022
20:14
You do realise the hedges are cash swap contracts? The actual gas is sold to Shell via a seperate contract altogether.
1347
06/7/2022
20:05
JT and Shooter. - I admit I do not know the details of the Angus Sales Contract - I was quoting what I was told in good faith, which seemed reasonable when I googled gas sales ICE contracts. However whatever the actual detail, it seems likely that sales price should follow daily spot rates in some way - although when the contract was signed there may not have been wild fluctuations.
Future spot prices are currently forecast as approaching 400p/therm, so hopefully we will receive that gross revenue on production above the hedge volume - from which Angus receive 41.4p/therm.

noelpbz
06/7/2022
19:48
They may, for a while, but they’ve only got one compressor in place and it seems unlikely that that will run much higher than its rated capacity. They can meet the hedges easily enough until the end of September if the wells/compressors produce consistently, in time, and according to expectations. After that, the increased volume required in the forward contracts will require additional production from a sidetrack.
jtidsbadly
06/7/2022
19:42
Can the wells produce more? Says who ?
shooter mcgavin
06/7/2022
19:30
Posted on LSE today - New investor questions answered

You expect the 2 wells to produce 1.5 mil therms of gas a month. But am I correct in thinking those 2 wells could produce more?

And would I be correct in assuming there is enough capacity onsite for gas from the two wells up to 3 mil therms?

Regardless of the sidetrack. Asked on 1 July 2022
The field having been shut in for so long, all the technical experts expect increased deliverability during the first six months of production. Additionally it was always open to the old Operator to run the wells a bit harder. Generally there are technical risks to pushing a well too hard, but we think that we could do better than 1.5m therms and, likewise the site equipment has some flex in terms of capacity but it would require some thought and planning.

Will there be further sidetracks at SBY in future to reduce the hedged gas at these high prices. Thankyou, and keep up the excellent work. Asked on 1 July 2022
Yes, although none planned for 2022. We would like to open up the southern lobe of the field in 2023 where we see low cost side tracks for high potential returns.

Hi, can the existing compressors be upgraded to produce more gas if needed. Thankyou. Asked on 1 July 2022
We left space for a third compressor in order to handle any potential pressure drop in the two existing wells. If the sidetrack pressure keeps the average across the three high, then we could use the third compressor to increase flow rates. All of the units were sized around 10mmscfd (the target production after side-track) but were build with a degree of redundancy and subject to risk assessment we could increase flow beyond that amount. That assessment will be easier to do once we have steady flow

Hi as an investor I want to know how you feel about the war in ukraine and oil & gas commodity prices rising? Do you think its going to be good for you on the whole. Asked on 1 July 2022
The war in Ukraine has supercharged the continental European markets but in the UK we pay NBP not TTF. Our UK market is heavily reliant for marginal supply on LNG cargoes from US and Qatar. European markets facing supply constraints as a consequence of the Russia-Ukraine tragedy cannot easily switch to LNG because terminal capacity to receive LNG cargoes on the continent is limited. So the UK is not as affected by the conflict as many others.

The real problem is the global dearth of investment in new supply. Take it as read that the timelag from identfication to realisation of a decent gas field is a five to ten year affair. The period of 2015/16 to the end of Covid in 2021 saw the lowest levels of investment in new capacity in 40 years in part because of the commodity price slide in early 2016 and then as a consequence of the impact of climate change activism.

The result is that we are unlikely to see new capacity added in great quantity until 2026 whatever the Russians do. Unfortunately many of the largest fields were in Russia and smaller operators running smaller fields still struggle to raise funds – particularly for exploration or early stage development.

So Angus does see an ongoing high price for natural gas and, to help in our geothermal ambitions, for electricity production which still relies overwhelmingly on gas fired generation. This will be good for shareholders.

3put
06/7/2022
19:27
On gas this could really capture peoples imagination. What else is there to invest in at the moment? And we will be a producer and self sufficient with income, the holy grail on aim where 99% never turnover a penny and dilute continuously with false hope
3put
06/7/2022
19:20
...and then, as HITS points out, you’ve got the sidetrack. They've sidestepped repeated questions as to whether they have regulatory permission to drill a sidetrack while running the gas plant. If they haven’t got permission, and don’t get it in the next 6 weeks or so, they’re going to be short of the volume required in the October forward contracts. They can’t stop production while they drill it, without raising a lot more equity capital. They’re not able to borrow, or to sell assets, without Mercuria’s prior approval. And unless they get production going very soon, they look as if they’ll need to raise more money from further equity sales just to pay for the sidetrack itself.

Then there’s the share overhang that will result from the availability for sale of the latest Aleph placing and the likely conversion of the Knowe loan later this month. It’s possible either or both party will want to hold the shares for the long term. However, Knowe has been a bond investor here for years and there’s no knowing what they’ll do with over 200mm. shares. We don’t know about Aleph, though it’s possible they've already sold a lot of the shares they bought for £3mm. in the first placing.

It’s possible that they’ll get it all sorted out, that they’ll drill a successful sidetrack in time and that the gas will flow well, the bespoke plant will perform as designed from day one etc. In which case this will be a good investment. It’s not a lay-down though, is it? And this management has to date done nothing on time or within budget.

jtidsbadly
06/7/2022
19:11
On gas this could really capture peoples imagination. What else is there to invest in at the moment? And we will be a producer and self sufficient with income, the holy grail on aim where 99% never turnover a penny and dilute continuously with false hope
3put
06/7/2022
19:11
With all #hydrotesting and the bulk of #nitrogen (leak and integrity) testing complete, #ANGS will now proceed to test skids individually for communication with the central computer system and function testing of all control elements. @angusenergyplc Update to follow! [...]
3put
06/7/2022
19:10
Posted on LSE today - New investor questions answered

You expect the 2 wells to produce 1.5 mil therms of gas a month. But am I correct in thinking those 2 wells could produce more?

And would I be correct in assuming there is enough capacity onsite for gas from the two wells up to 3 mil therms?

Regardless of the sidetrack. Asked on 1 July 2022
The field having been shut in for so long, all the technical experts expect increased deliverability during the first six months of production. Additionally it was always open to the old Operator to run the wells a bit harder. Generally there are technical risks to pushing a well too hard, but we think that we could do better than 1.5m therms and, likewise the site equipment has some flex in terms of capacity but it would require some thought and planning.

Will there be further sidetracks at SBY in future to reduce the hedged gas at these high prices. Thankyou, and keep up the excellent work. Asked on 1 July 2022
Yes, although none planned for 2022. We would like to open up the southern lobe of the field in 2023 where we see low cost side tracks for high potential returns.

Hi, can the existing compressors be upgraded to produce more gas if needed. Thankyou. Asked on 1 July 2022
We left space for a third compressor in order to handle any potential pressure drop in the two existing wells. If the sidetrack pressure keeps the average across the three high, then we could use the third compressor to increase flow rates. All of the units were sized around 10mmscfd (the target production after side-track) but were build with a degree of redundancy and subject to risk assessment we could increase flow beyond that amount. That assessment will be easier to do once we have steady flow

Hi as an investor I want to know how you feel about the war in ukraine and oil & gas commodity prices rising? Do you think its going to be good for you on the whole. Asked on 1 July 2022
The war in Ukraine has supercharged the continental European markets but in the UK we pay NBP not TTF. Our UK market is heavily reliant for marginal supply on LNG cargoes from US and Qatar. European markets facing supply constraints as a consequence of the Russia-Ukraine tragedy cannot easily switch to LNG because terminal capacity to receive LNG cargoes on the continent is limited. So the UK is not as affected by the conflict as many others.

The real problem is the global dearth of investment in new supply. Take it as read that the timelag from identfication to realisation of a decent gas field is a five to ten year affair. The period of 2015/16 to the end of Covid in 2021 saw the lowest levels of investment in new capacity in 40 years in part because of the commodity price slide in early 2016 and then as a consequence of the impact of climate change activism.

The result is that we are unlikely to see new capacity added in great quantity until 2026 whatever the Russians do. Unfortunately many of the largest fields were in Russia and smaller operators running smaller fields still struggle to raise funds – particularly for exploration or early stage development.

So Angus does see an ongoing high price for natural gas and, to help in our geothermal ambitions, for electricity production which still relies overwhelmingly on gas fired generation. This will be good for shareholders.

3put
06/7/2022
18:54
Shooter McGavin: I’d say so, yes.
jtidsbadly
06/7/2022
18:52
Shooter McGavin: I think you can rely on the Interim MD to let you know promptly when sales of gas to Shell have begun.
jtidsbadly
06/7/2022
18:52
So it is essential that sales are made soon.
shooter mcgavin
06/7/2022
18:46
Will they tell the market when sales have been made or do we find out in the financials?
shooter mcgavin
06/7/2022
18:43
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.
jtidsbadly
06/7/2022
18:33
Appreciate that. The price is closer to 3 so do they pay that or do they pay less?
shooter mcgavin
06/7/2022
17:35
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.

noelpbz
06/7/2022
17:29
noelpbz: how is your 40kthd at £1.2 calculated? The £1.2, not the 40kth/d.
jtidsbadly
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