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What cash are you referring to? They have no income and a £12million pound loan @12% interest racking up everyday! Then you have the Knowe £1.4 million CLN due in April(how are they going to deal with that?) and annual cash burn for the other part of the business at £2.5 million a year!
I’m not sure who you are trying to kid here as this is the companies own stated plan we are talking about.
All those predictions could do with an explanation please.
Wg818 I just said you are clueless, did you not read my post?
With all this cash flowing in then there is only one way the share price is going to go and that is up. 1.5p by the end of October 2p by the end of the year 3p by first gas in February and 4p by March all imho of course.
On the contrary. I am very well informed after years of research.
The facts are all there for all to see. the Sidetrack takes 16 weeks and they can’t produce while in that time.
The company has said it will either start the first week of October…….well that’s not happening now is it? ….Or the last week in March. All available from RNS,s and interviews!
16 weeks from the end of March takes you to the hedge kick in.
Remind me who is clueless?
Neo, agreed it would seem utterly counter-intuitive to go for the sidetrack up-front...
...except if it's being viewed as necessary to fulfil already signed up to commitments under the hedge.
As per the Aecom info, sidetracking looks like it'd take up to 16 weeks to complete (successful or not) - and it's vanishingly unlikely that this could be done while the field was kept in production (it's within the bounds of possibility, but would make things very complex).
Presuming no early sidetracking, I still think your "full production from Feb 1st" estimate is very definitely on the highly optimistic side of things. My own most optimistic guess would be some time in April 2022 - and even that's pretty rose-tinted.
But regardless of that, the only core and absolutely crucial number that matters in the grander scheme of things in my very firm opinion is:-
What consistent volume of production can be achieved out of Poundland from July 1st and for the following three years?
Wg818 you are either clueless or misinformed or being paid by someone to deramp and completely ignore the facts. I can’t figure out which yet.
NeoGeo
I agree that there is “too much money at stake” but it’s Mercuria and Alephs money isn’t it?
Why would they approve the sidetrack postponement when it could cost them millions just to possibly benefit Angus?
If Angus did postpone and things go further to the right as it’s looking like it most definitely is (EA permissions, delayed kit, Two/3 months behind on those groundwork’s already) how do you think the lender Would react when they can’t make the loan repayments?
In all likelihood the sidetrack will run alongside commissioning and certification of the new kit and run up until the hedge kicks in…..why do you think the chose July???????
https://www.angusenergy.co.uk/wp-content/uploads/2019/12/Saltfleetby-Gas-Field-Dec19.pdf
Angus net share was £27.4 million when prices were low. That number has gone up 3 times less debt. Do your calculations again.
-Hits There is no way the company is going to do the sidetrack during this time period, as there is too much money at stake. It will happen before feb imo. Right now is a great buy for newbies or to add to current holdings.
cuddothisnow-gas value is over £60 million at current prices.
Neogeo's prediction will be accurate, providing all the following assumptions also turn out to be accurate:-
1. First gas is achieved on February 1st.
2. Full production starts as soon as first gas is reached.
3. Consistent daily production from start is 5 mmscfd (without any sidetrack).
Obviously if items 1 and 2 slip from a timescale point of view, the pre-hedge bluebird period shortens in line.
And if production volumes are less than 5 mmscfd, earnable revenue in the pre-hedge bluebird period diminishes in line.
Having stated those caveats, I think it must be generally agreed that getting to production ASAFP should quite literally be the only thing concerning ANGS and its investors at the moment. The company needs to saddle itself with no distractions whatsoever until Poundland is up, running and producing to whatever level it's going to.
With the wholesale cost of gas as it at the moment, its a damn shame we're not online yet.
Agreed cuddothisnow looks good for a big run soon. with gas prices as they are, first gas in mid-february and 5 months before the hedge kicks in then Angus should bank between £10-15 million from gas sales before July. That’s already huge increase on your current market cap. Great times ahead
1p next target
we are getting closer to production