The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Hits I have read what you said, Including calling us "mug punters & Once bitten you wont put your hard earned cash in Angus. So you are the liar with your trousers around your ankles again, I'm sure one of the posters will paste it if they can be bothered.
...and up pop the outliers.
1. BV again, what are you talking about? Of course I've not said anything of the sort on the other site... so what pray tell is "getting harder"? Is making stuff up all you can do?
2. Milender, sorry to disappoint, but I just have the one ID here (and just the one identical ID next door. The much-used multi-ID accusation is again a not at all sophisticated attempt to discredit. Is this still really necessary, now that ANGS is in a much better place than it used to be?
HITS/WG818"
at least now the hugely over-egged flights of wild fancy only come from one or two outliers on this BB, rather than from the ANGS executive board itself - and that is without doubt a very good thing indeed".
Whilst you continue to post negativity.Oh by the way you forgot to end your message with a !? or do you tend to save that for when your posting under the ID WG818.
Lol HITS, would you tell everyone whilst you are working on a deal behind the scenes, I can see another big slap shortly.Oh and just remind us what the 2nd hedge is for, and the revenue for the so called hiccup.As you said to your cronies on the other site "It's getting harder on the LSE now", what a shame after 6 wasted years and counting!
I'm sure CITM is entirely correct in his supposition. It was important for ANGS to RNS this info, just as it is about to go into its own actual short period of non-production. It's also good to hear that production volumes seem steady around the 9.5mmscfd mark, which should easily be more than enough to handle existing liabilities and generate a tasty excess (with the possible exception of a short-term cashflow hiccup needing managing between now and Sept).
As for "hint hint"? Looking at the static SP and the minimal level of trades, it seems like nobody's got the slightest interest in any supposed hint.
Mind you, since RH got his hands on the corporate communications pen, at least now the hugely over-egged flights of wild fancy only come from one or two outliers on this BB, rather than from the ANGS executive board itself - and that is without doubt a very good thing indeed.
That the 4 day shutdown was not a shutdown after all, just a re-routing of the gas due to work elsewhere. So 4 more days worth of gas sales in the coffers.
CORRECTED
MULTIPLIER 66,964
FIXED PRICE £0.7597
MERCURIA PAYMENT TO ANGUS = £50,870
MULTIPLIER 66,964
SPOT PRICE £0.8433
ANGUS PAYMENT TO MERCURIA = £56,471
LOSS on SWAP is £5,601 (made up from a loss on swap 1 £26,989 and a profit on swap 2 £21,388)
-----------------------------------------------------------------------------------------------------------------------------------
DAILY PRODUCTION therms 96,791
SPOT PRICE per THERM £0.8433
GAS SALES PAYMENT BY SHELL TO ANGUS = £81,624
GAS SALES gross profit = £76,023
Add back revs for 6th to 8th June. 27.9 mmsfc = 309,312 therms @ ave £0.6574/therm
Total extra revenue is £203,342
Month to date GAS SALES PROFIT £811,527
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
CORRECTED
MULTIPLIER 66,964
FIXED PRICE £0.7597
MERCURIA PAYMENT TO ANGUS = £50,870
MULTIPLIER 66,964
SPOT PRICE £0.8433
ANGUS PAYMENT TO MERCURIA = £56,471
LOSS on SWAP is £5,601 (made up from a loss on swap 1 £26,989 and a profit on swap 2 £21,388)
-----------------------------------------------------------------------------------------------------------------------------------
DAILY PRODUCTION therms 96,791
SPOT PRICE per THERM £0.8433
GAS SALES PAYMENT BY SHELL TO ANGUS = £81,624
GAS SALES gross profit = £76,023
Add back revs for 6th to 8th June. 27.9 mmsfc = 309,312therms @ ave £0.6574/therm
Total extra revenue is £203,342
Month to date GAS SALES PROFIT £81,527
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
MULTIPLIER 66,964
FIXED PRICE £0.7597
MERCURIA PAYMENT TO ANGUS = £50,870
MULTIPLIER 66,964
SPOT PRICE £0.8433
ANGUS PAYMENT TO MERCURIA = £56,471
LOSS on SWAP is £5,601 (made up from a loss on swap 1 £26,989 and a profit on swap 2 £21,388)
-----------------------------------------------------------------------------------------------------------------------------------
DAILY PRODUCTION therms 96,791
SPOT PRICE per THERM £0.8433
GAS SALES PAYMENT BY SHELL TO ANGUS = £81,624
GAS SALES gross profit = £76,023
Add back revs for 6th to 8th June. 27.9 mmsfc = 309,312therms @ ave £0.6574/therm
Total extra revenue is £203,342
Month to date GAS SALES PROFIT £801,527
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
A very interesting RNS, GL has previously said that Angus would assist any future Humber Hub projects. This is just proof that Angus is safely connected to the whole gas system as we grow into a major player with our "fellow operators" hint hint!
10/06/2023 01:00:00 10/06/2023 System Entry Calorific Value, Saltfleetby, D+1 41.2700 11/06/2023 12:01:01 L
.
10/06/2023 01:00:00 10/06/2023 System Entry Energy, Saltfleetby, D+1 2876667.0000 11/06/2023 12:01:01 L
.
10/06/2023 01:00:00 10/06/2023 System Entry Volume, Saltfleetby, D+1 0.2508 11/06/2023 12:01:01 L
.
.
11/06/2023 01:00:00 11/06/2023 System Entry Calorific Value, Saltfleetby, D+1 41.2700 12/06/2023 12:01:01 L
.
11/06/2023 01:00:00 11/06/2023 System Entry Energy, Saltfleetby, D+1 2836667.0000 12/06/2023 12:01:01 L
.
11/06/2023 01:00:00 11/06/2023 System Entry Volume, Saltfleetby, D+1 0.2473 12/06/2023 12:01:01 L
N1shares, I think that HITS got the reason behind this spot on in his post on June 7th. To paraphrase him, it looks like Angus have some short-term cashflow issues with approx £4.1 million of loans being due for repayment imminently, and it does not appear that they will have the cash to cover this at the moment. However, with the revenue from Saltfleetby coming in on a daily basis they should be able to refinance this pretty quickly and cheaply. Once this refinancing is announced I expect it will remove one of the concerns the market has about the company and the share price will bounce up as the forward projections for cash look very healthy.. But that is just my opinion.
Lol WG, try the ENA who have been replacing pipes to be Hydrogen ready for years.
Volumes buys/sells are minimal, market is a sleep at the moment.
Need to play the long game
With everything going so well and gas price rising surprised that the share price is not rising significantly
I imagine it is just professional courtesy and they are simply helping out a fellow gas operator when it cost them nothing to do so. It builds goodwill with others and means that when Angus need a favour themselves others will be willing to help them out too. They probably didn't mention the name of the other operators simply because it is not their business to say what tests others are carrying out on their own equipment.
Edit, according to the 12/08/2020 RNS, 'We are pleased to have signed this agreement with Shell Energy which will cover all of the gas produced from Saltfleetby'.
I wonder why no mention who the fellow operator is, or the names of the 2 industrial customers. Or wht this was only RNS'd after the event. Interesting development perhaps in terms of future possibilities, or nothing to get excited about?
I can't remember the terms of the Shell off-take agreement, is there scope for an additional off-take agreement to a third party over and above a certain production level perhaps?
gla
Not a shutdown (which is scheduled for later this month), rather a diversion of flow:
"Angus Energy (AIM: ANGS) has successfully assisted a fellow Operator in a planned pipe inspection operation last week. This planned operation demanded the diversion of our export flow from Saltfleetby into a third party pipeline and involved two transmission grid entry points and two industrial customers on the Humber.
The Company was fully reimbursed for this diverted flow, which averaged 9.3 mmscfd, at market prices. Normal export into the transmission grid at Theddlethorpe seamlessly resumed during the Gas Day ending 5 a.m. on 10 June.
A summer maintenance shutdown is planned for 19th to 21st June inclusive."
Norwegian power outages are powering the rise in gas futures for the moment
Reason for shut down last week - in RNS this morning
Waiting for end of Summer... ;-)
No Rush, No Panic, No Trolls can deter me... LoL...
Boom time will come - continued production will ensure this...
Cynderlad
Of course it will be decommissioned at some point. I suggest you have a read through past RNS’s on the subject and the NSTA policy on de-comm. Angus even did a placing giving the reason a being de-comm cost provision for Brockham and Lidsey, (apparently to make them best in class) they then moved they subsequently moved them back into the asset column in the accounts. They even listed de-comm as being put aside from cash flow in one Saltfleetby RNS!
And why wouldn't a foreign entity put decom costs astronomically high ?? hmmmmmmm, plenty of reasons they would do that, it simply suits you to favour the RF estimates.
You would struggle to spend that on a tiny North sea well abandonment using today's tech, on UK land it is a fraction of that.
Thing is, SFB will never be decommissioned. Its gonna produce gas for years to come, and after that it'll be used for storage.
Ruth's apprentice needs to find another angle now, she gave up on the "past x sidetracks failed", now it's "decom costs" (which is nonsense), what next?