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Reason for shut down last week - in RNS this morning
Not a shutdown (which is scheduled for later this month), rather a diversion of flow:
"Angus Energy (AIM: ANGS) has successfully assisted a fellow Operator in a planned pipe inspection operation last week. This planned operation demanded the diversion of our export flow from Saltfleetby into a third party pipeline and involved two transmission grid entry points and two industrial customers on the Humber.
The Company was fully reimbursed for this diverted flow, which averaged 9.3 mmscfd, at market prices. Normal export into the transmission grid at Theddlethorpe seamlessly resumed during the Gas Day ending 5 a.m. on 10 June.
A summer maintenance shutdown is planned for 19th to 21st June inclusive."
I wonder why no mention who the fellow operator is, or the names of the 2 industrial customers. Or wht this was only RNS'd after the event. Interesting development perhaps in terms of future possibilities, or nothing to get excited about?
I can't remember the terms of the Shell off-take agreement, is there scope for an additional off-take agreement to a third party over and above a certain production level perhaps?
gla
Edit, according to the 12/08/2020 RNS, 'We are pleased to have signed this agreement with Shell Energy which will cover all of the gas produced from Saltfleetby'.
I imagine it is just professional courtesy and they are simply helping out a fellow gas operator when it cost them nothing to do so. It builds goodwill with others and means that when Angus need a favour themselves others will be willing to help them out too. They probably didn't mention the name of the other operators simply because it is not their business to say what tests others are carrying out on their own equipment.
A very interesting RNS, GL has previously said that Angus would assist any future Humber Hub projects. This is just proof that Angus is safely connected to the whole gas system as we grow into a major player with our "fellow operators" hint hint!
I'm sure CITM is entirely correct in his supposition. It was important for ANGS to RNS this info, just as it is about to go into its own actual short period of non-production. It's also good to hear that production volumes seem steady around the 9.5mmscfd mark, which should easily be more than enough to handle existing liabilities and generate a tasty excess (with the possible exception of a short-term cashflow hiccup needing managing between now and Sept).
As for "hint hint"? Looking at the static SP and the minimal level of trades, it seems like nobody's got the slightest interest in any supposed hint.
Mind you, since RH got his hands on the corporate communications pen, at least now the hugely over-egged flights of wild fancy only come from one or two outliers on this BB, rather than from the ANGS executive board itself - and that is without doubt a very good thing indeed.
Lol HITS, would you tell everyone whilst you are working on a deal behind the scenes, I can see another big slap shortly.Oh and just remind us what the 2nd hedge is for, and the revenue for the so called hiccup.As you said to your cronies on the other site "It's getting harder on the LSE now", what a shame after 6 wasted years and counting!
HITS/WG818"
at least now the hugely over-egged flights of wild fancy only come from one or two outliers on this BB, rather than from the ANGS executive board itself - and that is without doubt a very good thing indeed".
Whilst you continue to post negativity.Oh by the way you forgot to end your message with a !? or do you tend to save that for when your posting under the ID WG818.
...and up pop the outliers.
1. BV again, what are you talking about? Of course I've not said anything of the sort on the other site... so what pray tell is "getting harder"? Is making stuff up all you can do?
2. Milender, sorry to disappoint, but I just have the one ID here (and just the one identical ID next door. The much-used multi-ID accusation is again a not at all sophisticated attempt to discredit. Is this still really necessary, now that ANGS is in a much better place than it used to be?
Hits I have read what you said, Including calling us "mug punters & Once bitten you wont put your hard earned cash in Angus. So you are the liar with your trousers around your ankles again, I'm sure one of the posters will paste it if they can be bothered.
I'm happy to own my words, BV. I'll leave the myth-making to you.
By the way, if ANGS was now swimming in sufficient cash to cover any short-term cashflow hiccups as you allege, a rational person might ask why on earth it needed to arrange a short-term (3 to 6 months) bridging facility at 19.5%?
HITS, I am probably in a minority on this board in that I value your posts. When the SP falls many on here find themselves drowning in a cess pool of positives that have encouraged them to over invest ignoring contrarian views. I am now looking at Angus very differently post sidetrack. I am aware of debt etc. I am also aware that we are now very cash positive. Are you saying that our current cashflow will leave us short on the £4m that needs repaying?
I was just looking at Singie’s post last week. Projection 3.78 next June. FWIW my gut feeling was always that 4p was very doable here. Nice to see a similar number - a 3 bagger in 12 months, suits me nicely. GLA
Sageman, I think the bridging loan was taken to address the potential shortfall (as I posted previously, no company arranges to borrow £3 million at an eye-popping 19.5% just for the hell of it). I also imagine that facility will be extended by the extra three months.
Freely agreed that ANGS is now in a very different and much more positive place. As I've posted more than once, I suspect this is now a matter of patience (which is something that the adults on this BB including your good self will have already realised).
On a 24 month or more viewpoint, it all looks plain sailing from here - I suspect it'll now be a slow and steady rise over the mid-term. Don't know if it'll get to that 4p level (£160m MCap) level within the next two years, (I reckon the slight revenue millstone of the remaining hedges will throttle things back some while they're still in play) but still, the SP should do very nicely.
Needless to say, the usual kindergarten suspects on here will continue with their tiresome squeaking - but that's unavoidable so hardly worth worrying about.
Good luck to you.
Re cash: interim accounts were published on 30/06 last year.
And the interim accounts are due on June 30th this year too. See https://www.angusenergy.co.uk/investors/financial-calendar/
Thanks for your replies. Basically we will have a better idea on 30/6.
Thanks HITS, being a bit contrarian I am looking very closely at the Ukraine counter offensive and its potential geopolitical impact. I expected gas prices to fall and was angry that GL missed his self imposed deadlines . Moving forwards a new spike (perhaps to 300) would give a sentiment driven rally. So there is scope for 4p this winter IMHO. But time will tell. Whether it is 4p this winter or next from the current Sp it’s a decent outcome.
You post that you have one ID on this BB and just the one identical next-door!
Who mentioned next-door?
I certainly didn't
Oops you're slipping HITS/WG818
No you didn't Milender.
However, addressing me, BV in the post directly preceding yours stated: "As you said to your cronies on the other site..."
Hence my mentioning next door.
Reading... it's really not that difficult. Perhaps try it?
HITS /WG818
This my reply to you from your message :12/06/2023 :22:19.
"Reading... it's really not that difficult. Perhaps try it?"
You're showing a ? mark,"but perhaps try it" is not a question so why show ?
As for reading, you need to educate yourself (HITS/WG818)
You're slipping,maybe try getting an early night!
Milender, would you care to share your reasoning behind your claim that HITS and WG818 are the same person?
360, would you care to explain why someone would post about a company for 6 years and not holding shares. Burning the midnight oil up to 7 days per week without holding a grudge or being paid for the life wasted posting?
WG, just remind us why you got banned as your last alias JOILER51? And will you tell your mates on the other board to purchase a hearing aid, they keep saying" eh and what" after every post.