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ASCENT RESOURCES: Gas flows mean cash flows to develop up to 15 wells


Angus Energy Share Chat (ANGS)



Share Price: 15.625Bid: 15.25Ask: 16.00Change: 0.00 (0.00%)No Movement on Angus Energy
Spread: 0.75Spread as %: 4.92%Open: 22.25High: 22.25Low: 12.875Yesterday’s Close: 15.625


Share Discussion for Angus Energy


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itsallaboutme
Posts: 1,061
Off Topic
Opinion:No Opinion
Price:15.625
Volatility
Today 10:25
People said the same about Apple going down the pan in 2015 when the share price fell 30%.
Same as the people that thought Apple were a joke even after the iPhone came out (which is when I invested in them).

This is AIM which is very volatile and always over-reacts to the downside and especially in short timescales.

There will always be naysayers, these are the type of people that wait for bad news to buy in. I must admit that can work as I did just that buying JOG at around 60p. But I didn't do it by posting negative on their board as I am not a nasty piece of work.

Yes I am still gobsmacked and devastated by the initial flow results given the Vonk's verbal statements but the initial results are not the end results.

If they increase the flow from Lidsey-X2 as expected the share price will rise.
If Brockham Kimmeridge comes in as expected the share price will rise.
If Lidsey-X3 Kimmeridge comes in as expected the share price will rise.
If Holmwood goes as expected the share price will rise.
If BB-1 gets good results the share price will rise.

Obviously the converse is true but the market currently value the company at £37.57 million GBP - and we can pretty much say that is with nothing at Lidsey. So the share price may fall more this week or it may rise back.

Either way I see it being far north of here in the coming months but we all make our own decisions.
 
Pigsy
Posts: 314
Off Topic
Opinion:No Opinion
Price:15.625
RE: Put this into context pessimist..
Today 10:24
I guess the difference is we are new and the others are all established oilies
ChasPB
Posts: 992
Off Topic
Opinion:Strong Buy
Price:15.625
View Thread (2)
RE: Put this into context pessimist..
Today 10:22
Alan 2017 said, ''With regards the suspected hole in tubing...it happens to all oil companies from the very small ones like Angus up to the big boys like Shell and BP.

Do all these companies advise the same issues via RNS? or just fix them "Quietly"as part of day-to-day operations?

It feels as though every time they turn a nut we expect an RNS
Pigsy
Posts: 314
Off Topic
Opinion:No Opinion
Price:15.625
RE: Put this into context pessimist..
Today 10:15
yes, itsallaboutme, exactly Watson.....''It is my understanding that a hole or leak in the tubing can have a massive effect on flow rate as it just destroys the ability of the pump to do anything meaning you rely purely on pressure from below''

That is WHY Folks, they MENTIONED the FLOW rates to explain this is what has happened....
However most mis-interperted this as bad news, and doomed.....they are just explaining the adverse effects on flow rates ....with this problem. I suspect totally that flow rates will improve, once repair is done.
scallywag3
Posts: 340
Off Topic
Opinion:No Opinion
Price:15.625
RE: Worthless!
Today 10:11
barnetpeter, You got one bit right. "The ramping bunch that refused to allow real discussion on here by insults and so on .... " I disagee with the rest. at least hope your wrong.
Upside
Posts: 3,198
Off Topic
Opinion:No Opinion
Price:15.625
RE: Analogous wells
Today 10:10
Scally......the point is the 4 existing wells at Singleton were producing 400 bopd in total the addition of the 2 horizontal wells raised it to 640 bopd so they got around 120 bopd from a 2000ft horizontal well. By any measure Angus have been over optimistic.
ALLAN1942
Posts: 3,911
Off Topic
Opinion:No Opinion
Price:15.625
View Thread (2)
RE: Worthless!
Today 10:10
Peter from Barnet -Are you one of Dan's merry followers ?
itsallaboutme
Posts: 1,061
Off Topic
Opinion:No Opinion
Price:15.625
RE: Put this into context pessimist..
Today 10:07
Agreed, the issue may lie with a hole in the tube, or a loose joint or a too-tight joint (damaged threads).

"Most problems regarding the tubing string involve leaking joints, which can lead to a loss of production and can be difficult to locate. Leaks are usually caused by holes corroded into the tubing, or split tubing or collars. Leaks may lead to no fluid being produced at all, though the bleeder valve shows acceptable pressure."

It is my understanding that a hole or leak in the tubing can have a massive effect on flow rate as it just destroys the ability of the pump to do anything meaning you rely purely on pressure from below.

764 psi static bottom hole pressure is okay so I do think 400 bopd or more is still possible given the 3,300 feet of the horizontal payzone, if the flowing bottom hole pressure is there. We just need to see what they can raise the flow to after pulling and hopefully fixing the string.

If Lidsey-X1 at an 18th the payzone, vertical not horizontal got over 300 bopd at initial flow with a restricted choke then X2 should have got much more than 300 at initial flow. Something is seriously wrong with the well (in terms of results) and it needs fixing (which may or may not be simple).

Fantastic posts by Alan as usual.

Super links by Renegade and Upside:

https://medium.com/@marleerosegreasebook/understanding-the-tubing-string-for-oil-gas-production-9cff94c0b7bf

http://www.rigzone.com/news/oil_gas/a/28011/providence_resources_brings_x9_well_in_singleton_field_on_stream/
Pigsy
Posts: 314
Off Topic
Opinion:No Opinion
Price:15.625
View Thread (2)
RE: Worthless!
Today 10:06
barnetpeter, that's a bit harsh and over melodramatic I would say...
barnetpeter
Posts: 736
Off Topic
Opinion:No Opinion
Price:15.625
Worthless!
Today 10:01
No cash, no oil, no hope. Brokerman was right again. Those who fell for all the hype here and were buying at up to 37p.....pray for a small rally and think about it carefully. The ramping bunch that refused to allow real discussion on here by insults and so on ....

"The share price has tanked by 41%, at time of writing its 15.25p. The market capital is circa £37M. There is no recovery play here. The shares are worth between 3p/4p. That is it. Which means that they£ll more than likely be below 10p soon enough. But don£t worry on the placing price as whatever they raise cash at it will carry a big discount, if you have the £Energy£ you can always throw more money in and keep kicking yourself £Up£ the £An(g)us£. (A sophisticated joke for unsophisticated poltroons).

You can expect lots of shysterism to hit the online airwaves as the defeated, scattered army of the £Dumb as Fook£ led by Captain Ramptastic, regroup and come back with yet more horse shit on Kimmeridge etc.




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