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Brockham:
Angus's 40 bopd share.
Prices prevailing now: $113.03; 1.2571
40 x 113.03/1.2571 =- £3,597 per day, £25,179 per week, £107,910 per 30-day month.
Excellent news on Brockham : "Current average rates of produc??on from the BRX2-Y well are 50 barrels of oil per day with an approximately equal amount of forma??on water produced and reinjected daily into BRX3. Presently the site now has over 400 barrels stored for sale"
Gross Income USD2M = £1.5M - a substantial contribution to the main Overhead/total Opex.
Noel, just 80% is ANGS's.
OPEX cost per barrel? Traditionally about $45 as a rule of thumb, isn't it?
always thought that looked high TBH - often included water disposal off site IRRC
Apologies ( as Noted by Ocelot ) -Angus share 80 % - therefore gross annual revenue USD1.6M = £1.2M
Yes you too Hits - re the OPEX whatever it is with Angus ( I am more familiar with bigger oil production bopds) lets not forget that when you DOUBLE production you HALF the OPEX
" lets not forget that when you DOUBLE production you HALF the OPEX"
Nonsense - onshore UK you may have doubled your water disposal costs for a start
Sure, it's definitely not as simple as "doubling production = halving Opex", because some opex costs are variable, rather than fixed.
However TBF, water disposal is no longer going to be a major cost issue at Brockham
Without looking it up, and putting trust in a RNS put out by UKOG sometime ago, production costs were around $25 per barrel.
Probably will need qualifying.
https://drillordrop.com/2022/05/23/brockham-oil-production-resumes-and-water-reinjection-begins/
lol and there in black and white Is Ruth writing the article
The disinformation and quite deliberate gaslighting from this woman is extraordinary as regards her agenda
Truly astonishing.....
I'm grateful to Ocelot for linking that in
I know 1 or 2 perhaps justifiably doubted my naming of her repeatedly
Nasty individual as two faced as they come in the industry....
Hell hath no fury like a woman scorned.
100% ownership of saltfleetby for 14 million
Big transaction, Angus has just become a much bigger company.
For once I am in complete support of the acquisition and the placing. The acquisition is at a huge discount and shares are going in tight hands./long term investors. and its being funded by partial placing and future gas revenues which will begin in June. 70% of the total production will be unhedged. 10 pence in the near future IMHO.
Angus need the cash just now and the vendor is retaining upside through discounted shares so it looks like a win win to me. How much gas and when is key issues.
Back in jan I said if things go well they could be producing in July and that is looking more certain imv.
Like I said company maker boommmm
Ps sorry couldn’t help myself as a long term investor gla
Think it's clear that management has considerable ambitions for Angus.
Also think it's profile may begin to interest institutional small cap funds.
70% unhedged. Anyone done the math. Wow that’s great.
... With a conservative estimate for wet commissioning we are confident of being able to make initial nominations, or First Gas, toward the middle of June. We aim to focus on new opportunities as soon as this milestone is achieved."
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It's the 2nd sentence which interests me as much as the first.
It sounds as if they have other projects in mind and that Angus may become much more active on the acquisition front.
Not sure what to make of the TR1 selling out only days ago on the back of this.
Were they aware of this potential deal and not being offered a slice of the pie themselves? Was it the dilution they were unhappy about?
Surely they would not have just sold out on a whim and this deal is pure coincidence?
Note middle of June for 1st gas. So a slippage of at least 2 weeks on what was being touted on here also.
Still to read through the details in in full
One thing though, ANGS certainly never disappoint, or make anything easy!!
gla
Maybe jersey sold as they knew they could get in again lower.