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Yer well them chickens aint Hatched yet.
HAIL CESAR LUCAN
Delivering and making us rich
Alan will never admit that he is not an Angus holder or that he is a member of the AAAG.
But yes you are right, he was one of the really big rampers of this share back in the day. The trouble is he now hates the company so much that he refuses to see anything with rational eyes.
However, it seems like the global supermajor shell disagrees with his self-proclaimed "expert" opinion. Not surprising really since 90% of the analysis he posts is wrong.
Angus under Lucan is now delivering on their promises. The AAAG are proved to be out and out liars and things are only going upwards from here.
Big Alan is still waiting for the negative gas prices to show up....
What an even bigger Turd!
GL.
Ahhh the resident deramper is back
Years ago long before I joined you were ramping at 20p. You're embarrassing at best
honest - a investor would look at a company from all angles.....Brockham is a dud, Lidsey won't make a profit this year with current oil prices, Holmwood was a £4 million dud and there isn't even a site .
So everyone has been talking about SF and Balcombe....
Balcombe still doesn't have testing permission (remember Brockham?) and the planning permission expires in 2021 (I am assuming end of 2021).
And even then they still need to drill another well by 2021 (Again I am assuming end of 2021). So where is that many coming from and will they have to do the same as their other assets and put abandonment money in an escrow.
How much does it cost to drill a new well? HH was £6 million, so 25% is £1.5 million. Where does that one come from? Again this is all from statements from both MD of Cuadrilla and Angus (at the time).
I would say why would any investor not be wanting to find out from Angus where they stand? As well as why they gave such a positive RNS for a 4 hour in total flow test that only produced 200bbls?
Honestc - I note you are a recent new member and very hostile which is disappointing. I am quoting the MD of Cuadrilla who stated
https://drillordrop.com/2018/01/09/reaction-to-approval-of-flow-testing-at-cuadrillas-balcombe-oil-well/
Matt Lambert, Cuadrilla director said on 9th January 2018
“We are aware the planning permission only runs until 2021 and that once we start the work it must be completed within two years, including plugging the well with cement and fully restoring the site.”
And Paul Vonk MD of Angus at the time who stated:
https://balcombeparishcouncil.files.wordpress.com/2018/09/minutes-angus-clg-1-balcombe-05-sept-2018.pdf
Local “It says you have to drill a second well by 2021, have you made any decisions yet on where that will be? Will it be here?
Paul Vonk “Depends on the flow rate because then we have to go back to our partners and see if it’s commercially viable. We may want to drill here or we may not, we don’t know at this particular time.”
The information is right there....they are obliged to drill another well. Angus is a partner, so has to pay 25% of the costs.
and "planning permission only runs until 2021" I am assuming its end of 2021....
This is really something for Angus to answer and clarify. Can someone post the question. Thank you in advance
Takeyourbets - My timetable unlike Angus is still correct .....as you still need to design the pipeline, dig it, lay it and commission it which Angus says is early 2021...then you still have the other parts to complete
What I posted on 19th May 2020 and 23rd October 2019 still stands and is its actually correct.
"I gave an honest post last year on 23rd October 2019 to give investors a heads up on where we stood and that post is copied below here.
Angus gave far too optimistic timelines even if all the planning came as per schedule.
Lucan in his limited experience has updated us.
Angus Energy Investor Conference Call May 2020
http://www.angusenergy.co.uk/media/investor-conference-call-audio-recording-202005/
@30:29 - “Q4, latter half of H2 we would hope to have everything on site” Still need to hook everything up and commission it. That puts you into H1 of 2021. Angus don't work over Christmas lol
This puts Saltfleetby earliest February and more realistically March 2021. Timelines always go right.
RE: Please stop the negativity posted on 23 October 2019 08:36
Charlie - you are looking at Q3 2020 following an Angus timetable which doesn't account for the paperwork trail / meetings / public consultation regarding physically reconnecting to the National Grid which will always take longer than planned....and then you have to have the specialist pipe / contractors before actually laying the new pipe. Lucan had said May-August 2020 back in June....so yes last Quarter of 2020 is a much better date to plan for as an investor. "
Alab2017 egg on your face mate you tried to lose us genuine investors money, you can’t take my children’s tuition fees away from me :)
Buys still coming in thick and fast 2p will come soon IMHO
Honestc - I am highly surprised you are not concerned by what the MDs of Cuadrilla and Angus stated in a Council and Parish council meeting regarding 2021 deadline....and thats without the Balcombe test only producing 200bbls of oil....thats it.
What a turd!
GL.
Aren't you concerned? This was stated by the Cuadrilla MD at the Council Planning Authority and by Paul Vonk at the time MD of Angus Energy to the Balcombe Parish Council.
Angus raised £5 million and paid Cudrilla £4 million for a 25% stake.
Angus cancelled their own well testing permit and have not been able to test since 2nd October 2018. The issue is Balcombe is in an Area of Natural Outstanding Beauty......the mood has changed and the Councils own planning officer has said the oil isn't of strategic significance....hence why the application didn't even get to the Planning Council.
“We are aware the planning permission only runs until 2021 and that once we start the work it must be completed within two years, including plugging the well with cement and fully restoring the site.”
So either Angus has to pay 25% of their share to drill a well in 2021, or
Or the same thing happens like it did at Bury Hill site (Holmwood) when Europa didn't get planning permission after 10 years.
Either way this is an important question that should be put to Angus Energy Investor Forum and hopefully they will choose to answer it. Then everyone will know timescales and financial liabilities
Does anyone have links to the Balcombe planning permission, because its been stated that the “planning permission only runs until 2021”.
And they also need to drill an additional well by 2021.
I am taking that to be end of 2021, rather than the start of 2021
This is an important question to ask Angus Investor Forum as surely this places a question mark over the entire project? What does the planning permission say? By January 2021 or December 2021?
https://drillordrop.com/2018/01/09/reaction-to-approval-of-flow-testing-at-cuadrillas-balcombe-oil-well/
Matt Lambert, Cuadrilla director said on 9th January 2018
“We are delighted that West Sussex County Council’s Planning Committee has unanimously approved our planning application to flow test and monitor the existing exploration well at our site at Lower Stumble, Balcombe.”
“We are aware the planning permission only runs until 2021 and that once we start the work it must be completed within two years, including plugging the well with cement and fully restoring the site.”
Well the 7 days flow test started on 24th September 2018…..almost 2 years ago?
Does Angus have abandonment costs allocated for Balcombe like they do for Brockham / Lidsey? They had to do a placing to raise those costs.
Balcombe Flow Test Community Liaison Group meeting
05 September 2018
https://balcombeparishcouncil.files.wordpress.com/2018/09/minutes-angus-clg-1-balcombe-05-sept-2018.pdf
Local “It says you have to drill a second well by 2021, have you made any decisions yet on where that will be? Will it be here?
Paul Vonk “Depends on the flow rate because then we have to go back to our partners and see if it’s commercially viable. We may want to drill here or we may not, we don’t know at this particular time.”
Why hasn’t Angus Energy told their investors that there is a requirement to drill another well at Balcombe by 2021?
Angus are liable for 25% of those costs?