The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen 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 CEO has stated that not me. His statements are nomad vetted. Debt to be cleared by yr end or very close to.
From 19 mins 20 secs:
https://youtu.be/dX_j3cEBj4c
Yes. But if I recall, the goal is to ramp up to 5m therms not 1.5m. I think that was also in one of the interviews. Do correct me if I am wrong.
Thanks
A_D
Side track to commence from June/July, Rig is ready to go again from the CEO not me. Again nomad vetted statements not from some tom dick on a bulletin board.
From 16mins 56 secs
https://youtu.be/dX_j3cEBj4c
Spot on tradedesk indeed
Just be aware out of interest that 3 of the posters including the one you responded to are in fact the "same" individual
Yes could well be 5m therms. Remains to be seen but feet on ground for now and lets work on the base case of 1.5m coming on stream in June followed by another 1.5m from August onwards. Thats your 3m therms. Atb
As George said, debt being cleared by year end is absolutely conditional upon there being a successful sidetrack. Strange that you should fail to acknowledge that vital condition?
Average Dave, I think you're mixing up mmscfd with therms. The hope from the existing production wells was stated at 5 mmscfd which roughly equals 1.5 million therms a month. As gas is more normally priced in therms, that's the more useful metric to use.
And no, not even George in his most wildly optimistic moments has ever mentioned 5 million monthly therms as a possible production level. 3 million therms absolute max - and in fact that's all the equipment on site could handle.
I see tradedesk is attempting to get more misleading by the day...
Thanks HITS. I will revisit the interviews. It would be very bad if I invested based on such a big error. Lol.
Thanks again.
A_D
I've said as much. Please keep up. These are transformational times for Angus.
Yes but both the recent interview and webinar turned out to be almost instantly wrong!……no change there then!!
As for those claiming that all the equipment is on site? Well the Tweet said last SKID the gas generator and the other generators haven’t been seen along with the control room which is obviously quite important. The cable pull looked to be ongoing on Fridays Tweets so the electrical install slated for the 1st 2 weeks of May probably hasn’t started yet?
And that’s without the Welding program!
Despite what anybody says all eyes or on twitter for signs of further delivery and progress.
". Again nomad vetted statements"
How many Petroleum and construction engineers does the NOMAD have? Zero - they just take what they're given by ANGS
The difference is that they may be chased if they tell fibs in an RNS cp to a twitter feed
Speaking of fibs or not (or if you're being generous, possible continued wild over-optimism)...
Just 15 days until George's most recent assurance that Saltfleetby will have started full production.
I wonder if he'll finally get a projection right? Not long to wait to see either way...
https://twitter.com/angusenergyplc/status/1526174006952476672
So just to confirm what I just posted.
No sign of the control room( it sits in front of the coolers on the plans) the cable pull is still ongoing so highly unlikely the electrical install has started yet.
The pictures conveniently fall short of where the gas and other generators sit, and the welding is miles of being finished!!
Closer to July 1st than June 1st imho.
WG, I think you should get to Specsavers, the control has been on site ages.
You know a few of you don't have to be invested here if you don't like the value case. No one is forcing you. Seems like you want to take zero risk for all the reward. ANGS trades at a tiny mcap of £16m that is in for a major revision upwards on first gas and a succesful side track. The rest of us will just take our chances with a gas producer at a time of unprecedent global and domestic demand. Atb
Just for confirmation. The green analyser house is in postition now. The control room sits in front of Compressor coolers (still not fully connected by the looks of it)
Plans available on the website under presentations!
Tradedesk, the numpties that pull Angus down every step of the way here will never invest having no pot to **** in.
WG, to just confirm you arn't an Angus Energy fan so your postings arn't of any interest,GOODBYE!
You cannot see from the pictures whether or not the control room is fully terminated.
Yanis
You can see simply because it isn’t in position. I think you might be referring to the switchboard room? The control room has a delivery date of early March on the presentation… difficult to connect the electrical system to it if it’s not there!
WG, we don’t know how the design is. It is possible that most of the Control System field termination equipment is in the Electrical Room (e.g. RTUs). What you then need are serial connections from the Electrical Room to the Control Room which take little time to install and test.
I had a look at the 28th March LSE interview and did some rough calcs. It appears to me that the sidetrack is necessary to pay back the debt. Critically, prices are now around £1.60 per therm. Back then it was over £2.35. Maybe GL was being bullish on prices. Also, he said something to the effect (6:38 in video) "with that on stream we would also expect to pay off all debt this calendar year". To me calendar year (not financial year) means by Dec 22.
Would be nice if someone could review my calcs.
Thanks,
A_D
IMO, with adequate manpower there is no issue in achieving gas production beginning of June. I am sure given the significance of this Angus would have as much manpower as they can possibly have on site.
Is looking very promising now. Market a bit slow to react but it will as it becomes more apparent.
Yanis
The rest of the site follows the presentation design exactly. The Control room isn’t in position! As you say they will need to wire everything control wise from it presumably? And as you also say they need to complete the cable pull first. They gave a two week electrical install timeline that should have taken place during the first 2 weeks of May according to the latest published RNS!