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It probably would if they didn’t have the slight problem of those 300 million warrants available at0.66p!…..so probably not!
And what would you consider a good deal? They actually need nearly £30 million by early 2025 to fulfill the commitments they have listed.
The 8% they need to pay Mercuria also kicks in once 85% of the senior dept is paid down or the loan re-financed.
And I would say it is transparent that you too do not have much of a clue about the industry by the way you latch onto certain aspects within the CPR, but then simply are unable to understand the industry relevance to that and the industry solutions that apply.
SLBY is by no means unique in where it is on the secondary recovery workings, the elephant in the room is far more relatedabout
Related to how they can both work down or clear the debt/s and then finance the work that will be needed soon.
Bubble. You are either so thin skinned as to make Donald Trump look forgiving, or you’re back in.
I simply pointed out this morning to Paddy that we disagreed on a couple of things and you have literally thrown your toys out of the pram again!!
I’m guessing you are back in as yet again your post is 180 degrees different to this time last week!….would you like me to point it out for you?
WG,
I don't really give a fek what YOU asssume. like some of the stuff you post, it is simply incorrect, you just make yourself look more desperate for an ounce of credibility, you cannot win on that so you now jump onto the personal attacks, it is so, so obvious what you do.
It looks like you are unable to refrain from your posting ways and actually take on some other INDUSTRY knowledgeable insight, as it goes against your own asssssumptions, looks like normal service resumes regardless of MY attempt to encourage some value discussion other than the Zig n Zag show you turn it into.
As far as being in or out is concerned, again not a single share I hold, BUT as with ALL aim stocks, there is and will be money to be made, and when that time comes I may decide to take a punt. as it stands I don't buy in on unfounded movements, and if I was to be holding any then I would be selling into unfounded movements,
As said before, if you can't explain it TRADE it. I cannot because I don't have any !!!
WG, I don't think that Bubblepoint has thrown his toys out of the pram, I think that you have. He has answered every one of the points you raised sensibly and thoroughly, yet you still continue to abuse anyone who disagrees with you.
The conversations today have proved that you know nothing about oil production and you have even admitted that you have no experience in the industry yet you have the nerve to post that you "post to those who have slightly less information or idea as to what’s going on".
Personally, I think that you have no idea what is going on as has been proved today. Sharing your own ignorance with others is not helpful, it is misleading.
Hey WG/ Joiler, are you wanting" Angus to disappear asap" mentioned on advfn, and if so why?
BP, why are you hanging around like a bad smell not being invested, anyone would think you're HITS lol!!
Blimey JD. Your tongue seems so far up BP you could share the same DNA??!!
Yes he has answered (sort of questions today. Unfortunately they are completely different to when he answered them last Friday!! Almost the complete reverse in fact…….and just for your information he form for throwing his toys out of the pram as he admitted to last week in his poor explanation for deleting his Push2 alter ego!
WG,
My answers last week are based exactly the same as this week, the only problem is YOU DON'T want to understand what was said, and it is EXACTLY why I have had to repost in a slightly DIFFERENT way, to try and explain it more simply.
And as with your last post, you simply turn on people that DON'T share your view, try and embarrass & belittle, well each to their own, I will maintain sticking to points using my industry knowledge to put it into some understandable logic, I will leave you to the childish throw backs, seems you have quiet a talent in doing so.
Again WGP whenever anyone disagrees with you , you resort to abuse. It gives out a rather untrustworthy impression of your character, especially as you have proved completely unable to argue against or perhaps even understand any of the technical points that Bubblepoint has made today on reservoir management.
As you have freely admitted today, you have no oil and gas experience and are merely an enthusiastic amateur when it comes to analysing oil and gas shares. Unfortunately I would say that your enthusiasm significantly outstrips your knowledge as has been shown very clearly today. If as you claim, you would like less informed investors to become more clued up about Angus then perhaps you should listen more and talk less, because you are one of them. It has become very clear to me today that for all the noise you make on these boards there is actually very little knowledge or reason supporting your arguments. Your primary speciality appears to be throwing abuse at those who do not agree with your viewpoints and quite frankly it is rather infantile.
WG818: I don’t know who’s right between two well-researched posters, but what is perfectly clear is that Angus will need to spend a lot more money than small investors are expecting to sort out the problems that are causing a weaker than expected gas flow. And they appear still to be negotiating on the Global Re-Financing, which is needed mainly to repay the existing loans on time. The new loans thus raised will exceed the quantum of the old loans. Interest rates are higher now than when the senior loan was negotiated.
What all three CPR’s pointed out in common is that this is a heavily-depleted field and that production will fall by 10%+ within 18 months of re-opening (i.e. by February next year) and that it will fall sharply within a year or two more. If Angus are running hard to stand still while production is at its peak (currently) as a result of over-spending, big loans at usurious interest, the requirement for substantial further investment in new wells and kit, and forward contracts at highly unfavourable prices, they appear to have little time left to get their balance sheet in order before they are completely at the mercy of their lenders.
It also appears to me that the poster JD-Nau is associated with Angus, possibly an employee either of the company or of the consortium. His way of emphasising the differences between your and Bubblepoint’s understanding of what’s going on at Angus is intended to obfuscate the fact that, whatever the detail of what’s going on, you both agree that it’s not good. Production is disappointing, the finances are under severe, time-limited stress and it’s not immediately clear that they will be able to come up with effective and timely remedial action for either.
WG818 you come across as someone with no knowledge and just abuses anyone who outsmarts you with information
NeoGeo: to justify making the kind of remarks that you have about WG818 you’d have to have a reasonable amount of industry knowledge. Have you? WG818 has. As far as I can tell, either of he or Bubblepoint may be correct on the detail of what is happening at Saltfleetby currently. It doesn’t matter so much about the detail, however. They appear to agree that there’s a serious problem that is going to require serious money to resolve.
Re JD-Nau, I’ve taken the trouble to look up his posting history and it appears that Angus is one of a number of companies on which he comments. So I take back my earlier speculation that he may be an Angus employee. More likely, he works for a friendly broker or NomAd.
OP,
In principle you are correct in that the issues mentioned are real, and obviously cash remains the elephant in the room to both deal with debt and the forward work program/s.
As for the field and pressure references WG has made, it is more about him constantly driving on about the 17.5barg COMPRESSOR critical point like it is something that is "the end in neigh" of which I have "in detail" explained why it is NOT, using 30+ years of industry knowledge and experience to post industry solutions and options, and WHY 17.5 Barg is NOT the REAL issue, it is the LIQUIDS that cause the reduction in surface pressure that are the issue.
As long as Angus move forward in utilizing one of many options to "help" liquids to surface faster and more efficiently, then that WILL result in compressor critical pressure being kept at bay.
As said, they have 7-=80 Barg res pressure to play with, which is plenty of drive pressure to make any number of solutions work.
I noted a few days back that WG does offer some stuff up here that I consider useful, but it is clear the perlock cannot handle anyone countering his doomsday references with INDUSTRY FACT, and he simply resorts to trying to insult and belittle to discredit when it suits, Well I don't accept that carp, and it is his own credibility that he is making a fool of, not mine.
OP,
I will add, that actually working the production strings over is likely the cheapest and quickest solution for the near/mid term, and would likely be well within Angus ability to fund that work, which I believe would actually delay booster compressor requirement for some considerable time.
Oofy.
I rely on facts and figures rather than guessing. BP simply doesn’t like being challenged. My history of calling things correctly is considerably better than either bubble points or his alter ego Push2.
As I tried to point out yesterday I have done my homework on this. The devil is in the detail. The CPR combined with NSTA figures point to the pressure drop off associated fall in production happening ahead of the hoped for date in the CPR. Now they may well have choked back as the CPR advised to extend the lifespan (that would explain the fall) but my central point is it will hit the Critical 17.5 barg long before October. Yesterday BP literally went from it being critical to well they have got plans and the absolutely critical Compressor package seemed to have become a bolt on necessity if they felt like it.
I strongly advise everyone to take a look at the water cut figures available on the NSTA website (links in my history) and see for yourself the “snowball effect”BP was so worried about a week ago today.
August Figures showed it was around 40% of the condensate production.
NeoGeo……Yes that highly trustworthy individual who posts links to fantasy predictions on Twitter!!
Are you related to Gavin (another fantasist) and RT00poolboy by any chance?
WG
you rely on nothing other than trying to find snippets and then turn a gust of wind into a hurricane to suit your doomsday agenda, what a total pile of carp you spout to defend yourself.
Guesses from me, NO, 100% industry standard solutions and reasonings, which can ALL be derived from the information within the CPR, but YOU cannot do that, nor want to do that, as it goes against your fight to see an Angus fail !! idiot
WG aka Joiler, do you see Ruthy when you look in the mirror by any chance "wanting Angus to disappear asap on advfn". It's getting harder as you say "in Kansas" eh Joiler and OP aka titsbadly your partner in crime.
No I have an industry expert who agrees with me!!
Bubblepoint
Posted in: ANGS
Posts: 734
Price: 0.575
No Opinion
RE: OUTPUT DATA 08.11.202310 Nov 2023 15:13
9. AEWB’s compression is currently designed to operate at 10 MMSCFD wellhead flowrate
at a minimum flowing wellhead pressure constraint of 17.5 barg. When the flowing
wellhead pressure declines to 17.5 barg, the flowrate will automatically reduce until
booster compression is installed.
That simply means that the field compressors are "currently" working fine at 10MMSCF/D, along with the flowing pressure that is driving it into the compressors, the compressors cannot function below 17.5 Barg, so if the flowing pressure reaches that critical threshold then the ONLY current way to keep the compressors running is to choke back the wells, which slows down the flow velocity in the tubing to surface, which allows liquids to drop out and the surface pressure increases, so you have increased flowing pressure to meet the compressor threshold, but reduced flow of gas and less liquids to surface.
Then you are entering into a world of longer term problems, because the snowball effect kicks in, those liquids keep dropping back, flood out the near wellbore reservoir and kills the well/s over time.
The field has to maintain forward planning and actual work to counter the effects, otherwise it would result in "the end is neigh" for SLBY as we know it.
BP, we don't need your so called 30+ industry experience because Richard Herbert has over 42 years for our Q&A's. Like you said you have no shares, so the question is "why are you here like a bad smell".
Why you think the pressure drop hasn’t happened a few months early is baffling to me. The CPR tells you the kit that measures the pressure drop off is broken and they were basically guessing.
WG/Joiler "GET WELL SOON"
YOU fail to highlight the word "CURRENT" in the paragraph, meaning if you do NOTHING then the ONLY solution to keep surface pressure above the COMPRESSOR critical level is to choke back and reduce liquids lifting to surface, but it has a short life in doing that.
AND I do NOT believe that is the issue right now on site, the issue on site is almost certainly the B07T flow and contaminants, that no longer have a separate well test separator to handle it, so they can only crank it back a little to reduce the unwanteds to a workable level, and ensure that ALL condensates can maintain sales grade.
Keep posting my stuff up to twist what I say, I have explained it in notable detail since that post, which YOU chose to be selective about lolololol