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July,of which year though.
They don’t,just lead people up the garden path.
The issue with basing production forecasts on wellhead pressure is how long any pressure build-up may last.
There are facts and figures downloadable from the NSTA website specifically on Safltfleetby's history (right from first being tapped in Dec 1999) and showing audited production in mmscf/day by month. For example, in its first 5 years of production, the yield dropped by 64%.
As to George's latest prediction of 5 million therms per quarter not being enough to cover quantities hedged between Oct 22 and Jun 23, that remains true. However, sure, any successful sidetrack should mean that those increased hedged quantities should easily get covered and then some.
Actually, although a production-doubling sidetrack would be a total and utter game-changer as I have always said, even if ANGS can only consistently get 5 million therms out of Saltfleetby per quarter AND can actually prove that to the market's satisfaction, that alone should cause a meaningful rise in the SP.
I'm afraid the market perhaps unsurprisingly seems to have adopted a Jerry Maguire type attitude to ANGS along the lines of "Show us the volumes of gas, George". If he can, and in the volumes he has already promised, then it should be happy days. If not, not so much.
First gas is getting closer there as been noise for weeks on this board whether its tree huggers the unwashed or people who got burnt over Brockham , 2 options now buy in at this price or buy in at a higher price ,ive been locked in for 3 years and averaged down with profits before the crash over Brockham we will all know in the next 2 weeks how much gas is there .
You asked some very valid questions Croc. This should be much higher and the reasons quoted by SL and Baits might be behind some of it but we cannot overlook ANGS fatigue here either.
I'm not talking the company down as I think what they've achieved since the turn of the year should be commended, despite the delays that some will now point out. However, the market will be slow to react as a result.
You also need to factor in that the share price went as low as 0.6p not too long ago so there will plenty of people happily cashing in on what they've made already.
GLA. Come on ANGS we need a new kitchen!
Thanks for the replies, Silverlight, baits.
Will try to ignore the ongoing noise and wait for news
gla
Wonder if we could see some small cap investment managers entering the capital once first gas is achieved - as we know, some family offices have already taken position.
The market is a fickle and mysterious place, often when you expect a certain reaction the market will do the something totally different or nothing at all, also prefers certain rather than uncertain, although still can react differently. If it was simple, we would all be millionaires. How often have you seen an RNS released and expected a certain reaction but the market has gone leftfield?
Yes, like others I thought we would get a bigger move yesterday, but then the 5 to 10% crew would have brought it back down again. Not linear, but we will now wait for the next update and see what happens, maybe vertical takeoff maybe not. Still a strong buy for me and all the green filtered posts also reassure me.
also hearing that they are 99% confident the sidetrack will work, much better tech than last time, years ago, when it was attempted, so again don't listen to people saying 'its failed before' yet another agenda. Bliue skies ahead ladies and gents. I'm sure certain characters will still be here well after ITS TEN BAGGED and well after I'm gone saying it will never get to 20p. Fortunately I won't be hear to read it it then, SL
They obviously know what the pressure is in the well very easy for and engineer to calculate how many thermes that would be per, day, week or month
no its based on the pressure on the head, simple. They haven't plucked that of thin air, some science behind it. People need to release the SP is A symptom of the market, a few years back this would have been 5p, but we are on the verge of a recession so many don't take any sort of risk with their capital, (however minor it is here now) and stay in cash. Once any risk is going, ie when the taps are turned on and they confirm gas is flowing, different story. SL
Excuse my ignorance, but how exactly does Angus Management know that not only is first gas that imminent but that it will comfortably exceed the hedged amount?
If this was indeed a 100% certainty, then the SP would be comfortably higher than it is now, no?
And yet we are still at least a week away from first sales.
The fact that where the SP is where it is, surely reflects the current position that all and any results are still in play until the market is informed otherwise, and the statement above, if true, is material information that MUST be released to the market as soon as practicable.
This statement is based on an expectation, nothing else, and I, for one, know expectation vs reality when it comes to ANGS.
Still keeping my pragmatic hat on here until I see confirmed news in the form of an RNS
As Saltfleetby delivers on the last days of commissioning, Angus management must be delighted that not only is the first gas that is imminent but that it will comfortably exceed the hedged amount, previously a worry for some observers. This means that during the hedge period the company will easily start to accumulate revenues and remember it now has 100% of Saltfleetby which is accretive to shareholders.
Yet more gibberish from hits the mono lens
Before the side track HITs. Nice to leave stuff out.
PR puff, eh? It's always about what fails to get mentioned.
The hedged volumes for the next three quarters, from Oct 1st 2022 to Jun 30th 2023, are in excess of George's hoped-for 5 million therms a quarter production.
Angus Energy
Angus has announced the conclusion of leak testing and the commencement of commissioning of the Saltfleetby Gas Field. The duration of commissioning is expected to take between one and two weeks with a target date for first gas export (ie sales) between the 7th and 12th July.
The hedged volume for July to September inclusive is for 3.375 million therms. The expected output during that period from existing wells B2 and A4, assuming a start date of 1 July is approximately 5 million therms and comfortably exceeds the hedged amount.
As Saltfleetby delivers on the last days of commissioning, Angus management must be delighted that not only is the first gas that is imminent but that it will comfortably exceed the hedged amount, previously a worry for some observers. This means that during the hedge period the company will easily start to accumulate revenues and remember it now has 100% of Saltfleetby which is accretive to shareholders.