Angus Energy Share Discussion Threads

[markbarker] 07/7/2022 10:00

Morning jt

[3put] 07/7/2022 09:55

Morning JT

[jtidsbadly] 07/7/2022 09:45

The AEWB No.3 Accounts for the year ending 30 September 2021 are now on the Companies House site. A long discussion of Going Concern status - the auditors agree that it’s appropriate. A couple of references to the potential issues with the forward contracts, including to the effect on going concern status if the gas is late. The detailed income and expenditure table is there. Oddly, they had only 7 employees in September 2021 (6 in 2020). Their cost has risen very substantially so perhaps they added someone at a high salary. So they’ve had a maximum of nine months since then to identify, hire and train lots of people to run the plant.

They also had a bad loan of £159,000 or so.

[gasman10] 07/7/2022 09:34

https://twitter.com/angusenergyplc/status/1544954430214250496?t=i6zGz6L4JMQWJGONfMAGVw&s=19

[sincero1] 07/7/2022 09:21

new twitter pics..more slaps to the old grey disingenuous crayon eaters mutton chops...oh the humiliation, embarrassment and ridicule....tee hee...

[aimmafia] 07/7/2022 09:14

I've taken some today.

[3put] 07/7/2022 08:51

Where are all the trolls today?

[3put] 07/7/2022 08:42

30% up in one month, what?

[3put] 07/7/2022 08:26

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

[dillydally2] 07/7/2022 08:21

All over already

[gasman10] 07/7/2022 07:39

Redflag you are a troll goodbye

[redflag2023] 07/7/2022 05:50

4 lettersO u c h That's coming soon Stay safe out there MMS catching you in

[shooter mcgavin] 07/7/2022 00:09

Mark , JT offers a bearish view. I'm ok with that. We all pull the trigger

[shooter mcgavin] 07/7/2022 00:07

Thanks for all the information

[jtidsbadly] 06/7/2022 22:02

All the gas is being sold to Shell at the spot price minus a small margin. The forward contracts (“swaps”) are, as 1347 says, purely financial contracts. Mercuria has contracted to pay Anguish cash equivalent to the value of an agreed volume of gas at 41p/therm every month for the next three months, and beyond at different prices and for different volumes for three years. Since Anguish can only sell their gas once, in this case to Shell, they technically have to pay cash at the end-month spot market price for the contracted volume of gas, to sell to Mercuria at 41p. In other words, they pay Mercuria the difference between the spot price and 41p/therm every month. The result is that Anguish receive a net 41p for the contracted volume, minus Shell’s small discount. Any production they manage to achieve above the contracted forward sales contract volume, they can sell in the spot market. Any deficit, they have to make up at spot prices. They’ll have a deficit, by my calculation, from the end of tomorrow for July if they’re not producing and selling gas to their schedule. There’s a useful table on p.49 of the October CPR that details the volumes and prices of the forward contracts.

If someone knows better than this, I hope they’ll correct it.

[noelpbz] 06/7/2022 21:54

Shooter - I must add that Angus pay for the Hedged amount whether OR NOT they have any production of gas. So we are all gagging at present.

[1347] 06/7/2022 21:47

Shooter - Mercuria pay Anguish the cash flow resulting from the agreed volume of gas at the agreed hedging price; Anguish pay Mercuria the cash flow from the agreed volume of gas at the market price. Anguish sell the actual gas to Shell at the market price. The problem comes if Anguish don't have sufficient gas to sell to Shell at market price, because they still have to pay Mercuria the deemed cash flow from the difference between the market price and the hedged price for the hedged volume.

[noelpbz] 06/7/2022 21:43

Shooter. - Angus will receive all the monies from gas sales directly from Shell.

Angus will then pay Mercuria for the hedged quantity less the agreed hedge fixed price - which in the period July22 to Sept22 is 41.4p/therm - anything over the hedged quantity Angus will benefit from the full spot price paid.