Firering Strategic Minerals: From explorer to producer. Watch the video 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.
The previous full year revenue of £3.1m, revenue last 3 months alone is nearly £5m and we wont be booking a £112m loss including a £1.6m operating loss.
In terms of the figures, it will be informative to see where we stood at 31/03: since that date, RNSs have been, above all, about the progress of the sidetrack.
Any Indications about future plans will be a bonus.
Https://www.msn.com/en-us/money/markets/just-stop-oil-donor-says-counterproductive-marches-accomplish-nothing/ar-AA1d0j0d
Total Hypocrite AILEEN GETTY part funding and training 30,000 activists from her Grandads fortune with Neilson and others.
OUTPUT DATA 24.06.2023
24/06/2023 00:00 24/06/2023 System Entry Calorific Value, Saltfleetby, D+1 41.2700 ***ABOVE AVERAGE***
24/06/2023 00:00 24/06/2023 System Entry Energy, Saltfleetby, D+1 1,682,222.0000
24/06/2023 00:00 24/06/2023 System Entry Volume, Saltfleetby, D+1 0.1470 *** 5.1913 MMSCF/D***
ONGOING MAINTENANCE WORK FROM THE PLANNED SHUTDOWN THESE OUTPUT FIGURES RESEMBLE PRE SIDETRACK METRICS SO THERE IS STRONG INFERENCE THAT THE PERMENANT PIPEWORK IS BEING INSTALLED
Daily Output (Therms) = 57,400
Month To Date (Therms) = 2,078,032
Average Per Day (Therms) From 25.05.23= 90,040
F/C Monthly Hedge 1+2 Completion = 27/06/2023 04:50
F/C Monthly Therms = 2,604,715
Average Monthly Price Per Therm = £0.7637
F/C Hedge 1 + 2 Revenue = £1,526,106
F/C Market Revenue = £449,494
F/C Net Monthly Saltfleetby Gas Rev = £1,975,600
F/C Net Rev Less Disbursements = £1,945,966
Links To Source data Files =
https://tradingeconomics.com/commodity/uk-natural-gas
https://mip-prd-web.azurewebsites.net/DataItemExplorer
https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5351152
Assumption That The Hedge Requirement Is A Daily Pro Rata*
Daily Average Output Of 57,693 Therms To Complete The Monthly Hedge*
1) 3 Month Hedge Requirement Of 5,250,000 Therms / 91 Days: 01.04.2022 - 30.06.2023
2) 3 Month Hedge Requirement Of Additional 843,750 Therms / 91 Days: 01.04.2023 - 30.06.2023
Month Therms Revenue
Jan-23 1,909,995 £1,759,930.52
Feb-23 1,665,428 £1,481,677.39
Mar-23 1,833,268 £1,673,093.54
Apr-23 1,751,187 £1,264,570.11
May-23 2,604,715 £1,960,176.78
Jun-23 2,597,540 £1,975,599.98 Forecast
H1 2023 12,362,134 £10,115,048.33 Forecast
2023 Q2 Therms Revenue
Apr-23 1,751,187 £1,264,570.11
May-23 2,604,715 £1,960,176.78
Jun-23 2,597,540 £1,975,599.98 Forecast
Q2 2023 6,953,442 £5,200,346.88 Forecast
12 Month Share Price Forecast: 9.25mmscf/d
PE Factor = 5.00
Ord Shares = 3,590,393,701
FC Avg Therms / Day = 100,000.00
Debt Outstanding = £3,927,523.06
12 Mth Rev-Debt = £19,504,839.17
F/Cast Share Price (p) = 3.70
Based Upon Current Market Data and Responsible Debt Repayment Plan
Share Price Forecast Tracker (p)
Nov-23 1.73
Dec-23 1.79
Jan-24 2.03
Feb-24 2.42
Mar-24 2.80
Apr-24 3.18
May-24 3.44
Jun-24 3.70
Regards,
The biggest fossil fuel players are making the message clear: the transition to a green future will require much more natural gas.
From Shell Plc to Chevron Corp., the world’s top producers plan to accelerate investments in the fuel. China keeps signing deals to buy liquefied natural gas past 2050, with European importers not far behind. The US is forging ahead with new projects that will make it the world’s top LNG exporter for the foreseeable future.
This momentum marks a turning point for gas. The “cleanest” fossil fuel was seen as a short-term bridge to greener energy sources, and environmentalists have sought to phase it out amid worries that gas is far dirtier than advertised. Now, the idea that gas demand will peak anytime soon is disappearing.
“LNG sellers look around this market and feel pretty confident that gas demand will be with us for decades to come,” said Ben Cahill, senior fellow with the Center for Strategic and International Studies, a Washington think tank ...
https://www.bloomberg.com/news/articles/2023-06-24/oil-giants-from-shell-to-chevron-say-gas-here-to-stay-for-green-transition?sref=Em01M8Hr
It took a long time in coming however it appears the Fatwah placed upon Putin is about to be exercised!!!
Nobody knows how this will develop.
The best the West can do is keep a close watch ... but from a distance.
It is only justice that the xenophobes of Putin's regime are getting financially strangled by the diligence of the Economic Sanctions the European Union has initiated and the leading G7 economies supported,
This goes to show that there is strength and solidarity in the Union,
Democracy shall prevail and those who purport Putin's Ideologies shall be held too account,
Putins cronies running for the hills their private Jets according to the updates,Billy no mates comes to mind!
OUTPUT DATA 23.06.2023
23/06/2023 00:00 23/06/2023 System Entry Calorific Value, Saltfleetby, D+1 41.2800***ABOVE AVERAGE***
23/06/2023 00:00 23/06/2023 System Entry Energy, Saltfleetby, D+1 2,403,333.0000
23/06/2023 00:00 23/06/2023 System Entry Volume, Saltfleetby, D+1 0.2099*** 7.4125 MMSCF/D***
Daily Output (Therms) = 82,005
Month To Date (Therms) = 2,020,632
Average Per Day (Therms) From 25.05.23= 91,128
F/C Monthly Hedge 1+2 Completion = 26/06/2023 20:48
F/C Monthly Therms = 2,604,715
Average Monthly Price Per Therm = £0.7609
F/C Hedge 1 + 2 Revenue = £1,526,106
F/C Market Revenue = £476,832
F/C Net Monthly Saltfleetby Gas Rev = £2,002,938
F/C Net Rev Less Disbursements = £1,972,894
Links To Source data Files =
https://tradingeconomics.com/commodity/uk-natural-gas
https://mip-prd-web.azurewebsites.net/DataItemExplorer
https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5351152
Assumption That The Hedge Requirement Is A Daily Pro Rata*
Daily Average Output Of 57,693 Therms To Complete The Monthly Hedge*
1) 3 Month Hedge Requirement Of 5,250,000 Therms / 91 Days: 01.04.2022 - 30.06.2023
2) 3 Month Hedge Requirement Of Additional 843,750 Therms / 91 Days: 01.04.2023 - 30.06.2023
Month Therms Revenue
Jan-23 1,909,995 £1,759,930.52
Feb-23 1,665,428 £1,481,677.39
Mar-23 1,833,268 £1,673,093.54
Apr-23 1,751,187 £1,264,570.11
May-23 2,604,715 £1,960,176.78
Jun-23 2,635,607 £2,002,937.62 Forecast
H1 2023 12,400,201 £10,142,385.97 Forecast
2023 Q2 Therms Revenue
Apr-23 1,751,187 £1,264,570.11
May-23 2,604,715 £1,960,176.78
Jun-23 2,635,607 £2,002,937.62 Forecast
Q2 2023 6,991,509 £5,227,684.52 Forecast
12 Month Share Price Forecast: 9.25mmscf/d
PE Factor = 5.00
Ord Shares = 3,590,393,701
FC Avg Therms / Day = 100,000.00
Debt Outstanding = £3,913,108.00
12 Mth Rev-Debt = £19,548,276.55
F/Cast Share Price (p) = 3.70
Based Upon Current Market Data and Responsible Debt Repayment Plan
Share Price Forecast Tracker (p)
Nov-23 1.74
Dec-23 1.80
Jan-24 2.03
Feb-24 2.43
Mar-24 2.81
Apr-24 3.19
May-24 3.45
Jun-24 3.70
Regards,
MULTIPLIER 66,964
FIXED PRICE £0.7597
MERCURIA PAYMENT TO ANGUS = £50,870
MULTIPLIER 66,964
SPOT PRICE £0.8341
ANGUS PAYMENT TO MERCURIA = £55,855
LOSS on SWAP is £4,985 (made up from a loss on swap 1 £26,458 and a profit on swap 2 £21,473)
-----------------------------------------------------------------------------------------------------------------------------------
DAILY PRODUCTION therms 82,005
SPOT PRICE per THERM £0.8341
GAS SALES PAYMENT BY SHELL TO ANGUS = £68,400
GAS SALES gross profit = £63,415
Month to date GAS SALES PROFIT £1,509,274
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
In another act of madness, the Dutch have confirmed that the Groningen field will close on October 1st: see https://www.reuters.com/business/energy/netherlands-end-groningen-gas-production-by-oct-1-2023-06-23/
The Economist have repeatedly pointed out that they could give every household affected by the minor earthquakes €1 million each using just the spare change generated from the gas production.
Still, it’s another factor pointing to higher gas prices.
Re debt repayment and cash generation, the interims only cover the period Oct 22 to Mar 23, i.e. pre the sidetrack kicking in.
It's what has happened since the end of April that's of greater interest, so any forward-looking comments that may be made are liable to have more of a positive effect than any historic results, given the period being reported upon..
The announcement of the results also brings Angus’ closed period to an end and gives the executive directors the opportunity to, as they’ve indicated they will, buy shares (if Mr Forrest wishes to sell some more, perhaps they can even do a deal).
The interim report is due next Friday, not the annual.
It should tells us how much debt has been repaid, what the costs are, how much cash is being generated etc.
It’ll also be an opportunity for Angus to tell us about any refinancing (they’ve borrowed short term at high rates and hopefully that debt is either being quickly repaid or can be refinanced now that the sidetrack is producing) and future plans (including the oil assets that were neglected whilst efforts were concentrated on Saltfleetby). Details of any acquisitions and/or further development of geothermal (which may well need a financial partner) will be a bonus.
Will this have any positive impact on the SP? Thoughts anyone?
Italy’s Eni SpA expanded the reach of its natural gas business with the joint acquisition of explorer Neptune Energy Group Ltd. for $4.9 billion.
The deal, done in conjunction with Eni-controlled Norwegian producer Var Energi ASA, adds assets from North Africa to the North Sea and boosts the companies’ gas output at a time when Europe is in desperate need of the fuel ...
https://www.bloomberg.com/news/articles/2023-06-23/eni-var-energi-agree-to-buy-neptune-energy-for-4-9-billion?sref=Em01M8Hr
MULTIPLIER 66,964
FIXED PRICE £0.7597
MERCURIA PAYMENT TO ANGUS = £50,870
MULTIPLIER 66,964
SPOT PRICE £0.8768
ANGUS PAYMENT TO MERCURIA = £58,713
LOSS on SWAP is £7,843 (made up from a loss on swap 1 £28,920 and a profit on swap 2 £21,077)
-----------------------------------------------------------------------------------------------------------------------------------
DAILY PRODUCTION therms 101,909
SPOT PRICE per THERM £0.8768
GAS SALES PAYMENT BY SHELL TO ANGUS = £89,354
GAS SALES gross profit = £81,511
Month to date GAS SALES PROFIT £1,445,859
less Shell 1.5% and Ntsec 0.386p/therm
1)SAP used instead of NBP
Nothing to see here! Simply states that they have appealled the Planning decision to allow us to test.
The headline is not backed up by the article at all!
Imagine if the Arabic countries had the same problem with protesters.
For one they would certainly sort out the protesters.
Secondly if protesters worldwide had their way with fossil
fuels there is nothing out there to replace them.
Some say nuclear power but we would end the world with all the lunatics we have out there.
There are those who worry about habitats and there natural beauty being spoiled.
Everyday we spoil it with building sites due to over population and wars.(Either of those will end the world anyway).
We will never be perfect and protests will always be there to upset the majority knowing full well they will lose in the end to greed.
AIMO
Hopefully Balcombe will go ahead due to the Russia/Ukraine conflict and the lack of the commodity in the future.
We just need to evolve with what is placed in front of us.
OUTPUT DATA 22.06.2023
22/06/2023 00:00 22/06/2023 System Entry Calorific Value, Saltfleetby, D+1 41.2400 ***ABOVE AVERAGE***
22/06/2023 00:00 22/06/2023 System Entry Energy, Saltfleetby, D+1 2,986,667.0000
22/06/2023 00:00 22/06/2023 System Entry Volume, Saltfleetby, D+1 0.2614 ***9.2313MMSCF/D***
Daily Output (Therms) = 101,909
Month To Date (Therms) = 1,938,627
Average Per Day (Therms) From 25.05.23= 91,443
F/C Monthly Hedge 1+2 Completion = 26/06/2023 19:08
F/C Monthly Therms = 2,604,715
Average Monthly Price Per Therm = £0.7579
F/C Hedge 1 + 2 Revenue = £1,526,106
F/C Market Revenue = £480,993
F/C Net Monthly Saltfleetby Gas Rev = £2,007,099
F/C Net Rev Less Disbursements = £1,976,992
Links To Source data Files =
https://tradingeconomics.com/commodity/uk-natural-gas
https://mip-prd-web.azurewebsites.net/DataItemExplorer
https://www.theice.com/products/910/UK-Natural-Gas-Futures/data?marketId=5351152
Assumption That The Hedge Requirement Is A Daily Pro Rata*
Daily Average Output Of 57,693 Therms To Complete The Monthly Hedge*
1) 3 Month Hedge Requirement Of 5,250,000 Therms / 91 Days: 01.04.2022 - 30.06.2023
2) 3 Month Hedge Requirement Of Additional 843,750 Therms / 91 Days: 01.04.2023 - 30.06.2023
Month Therms Revenue
Jan-23 1,909,995 £1,759,930.52
Feb-23 1,665,428 £1,481,677.39
Mar-23 1,833,268 £1,673,093.54
Apr-23 1,751,187 £1,264,570.11
May-23 2,604,715 £1,960,176.78
Jun-23 2,643,583 £2,007,098.74 Forecast
H1 2023 12,408,176 £10,146,547.09 Forecast
2023 Q2 Therms Revenue
Apr-23 1,751,187 £1,264,570.11
May-23 2,604,715 £1,960,176.78
Jun-23 2,643,583 £2,007,098.74 Forecast
Q2 2023 6,999,485 £5,231,845.64 Forecast
12 Month Share Price Forecast: 9.25mmscf/d
PE Factor = 5.00
Ord Shares = 3,590,393,701
FC Avg Therms / Day = 100,000.00
Debt Outstanding = £3,910,913.85
12 Mth Rev-Debt = £19,554,888.25
F/Cast Share Price (p) = 3.70
Based Upon Current Market Data and Responsible Debt Repayment Plan
Share Price Forecast Tracker (p)
Nov-23 1.74
Dec-23 1.80
Jan-24 2.03
Feb-24 2.43
Mar-24 2.81
Apr-24 3.19
May-24 3.45
Jun-24 3.70
Regards,
22/06/2023 01:00:00
22/06/2023
System Entry Volume, Saltfleetby, D+1
0.2614
23/06/2023 12:01:01
I would agree Dan, the shorts were opened as the sidetrack delays kicked in before xmas.
And kept the price down ever since...