Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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Aaah, Onetomany, this BB's latest Mystic Meg is back, with "jam tomorrow" assurances about Balcombe now.
Readers might be well-served to recall that it was Onetomany who assured everyone three months back that the ANGS SP would be at a minimum level of 1.5p by the end of March... so perhaps best not to pay too much attention.
Balcombe is a game changer and should be producing this year. I think the comments about market cap potential on the investor presentation were extremely conservative, and deliberately so.
I dont understand the sales now, whats the point? Balcombe news could double the SP and that is due to land any day
Please find a link below to a Flagstaff TV interview with Richard Herbert discussing the key takeaway messages for Investors post the Investor Webinar which I thought might be of interest :
https://youtu.be/5_6r2ZFIGbU
Lovely , thank you :-))))))
Here is a link to another RNS that suggests testing of 850 BOPD and up to 1600 BOPD. Worth a read.
https://www.angusenergy.co.uk/wp-content/uploads/2018/10/18.10.02-RNS_-Angus-Energy-Completes-7-Day-Well-Test-at-Balcombe.pdf
Here is a link to the official write-up that in part relates to it being a “sweet spot” and talk of 900 BPD. There are lots of other reports from various times from the earlier days when this was the hot topic.
https://www.angusenergy.co.uk/what-we-do/balcombe-discovery-pedl244/
Potential Balcombe flow rates, anyone please :-)))))))))
I agree BP, the initial concerns and the group appealing are still concerned on the fracking side. Fingers crossed it fails as this could re-value Angs overnight as Balcombe can produce serious flow. With Quadrilla this could be up and running very quickly and safely too.
BP,
Seems like a wise strategy, especially fromt he hole i am in!
Less said about GL the better,snake oil salesman.. but he put you in good company; Forrest, Mecuria and yourself made money out him.
I personally feel it is 95% nailed on OK and the appeal will fail.
Should be hearing about the appeal in the next few days/week. Any thoughts on which way the verdict will go?
Angus Energy (ANGS LN) 0.32p, Market Cap £14m: 1Q24 operational update
• Angus reported average 1Q24 production down ~5% q/q to 6.92m therms and 11.7kb of condensate (~1.4kboe/d) from the Saltfleetby gas field (100% WI).
• This generated £4.86m revenues in 1Q24 and equates to an average 2.3m therms per month, against hedged volumes of 1.5m therms per month during the quarter.
• The Company has commenced site work ahead of a workover programme in early 2Q24 on the onshore UK Brockham 2Y well (25% WI) to replace the tubing before re-starting oil production in 2H24.
Angus reported solid production during the quarter based on an operational efficiency of 92% at Saltfleetby as efforts continue to improve the reliability and lower the ongoing costs at its flagship development.
Following the refinancing in 1Q24, the Board plans to focus on maximising the potential from the existing portfolio, including its storage potential and accelerate its evaluation of new projects to complement production from Saltfleetby.
In addition, with a strengthened and stabilised balance sheet, we expect Angus to pursue a growth strategy aimed at acquiring additional production and developing storage opportunities.
SB,
For all GL's woe's, he certainly managed to stimulate it enough to get it in the mid 2p's at one point, before then diluting it to death and undermining it completely. He did well for me !!
It is exactly why I don't long term minnows like this, just play the main event/s, in the last near 20 years of doing junior oils, I cannot see one, not a single one that has ever held on to it's gains, and I have seen plenty go from part penny to pounds, and ALL have eventually either disappeared or now sit back in the pennies or part pennies.
There will be one or two exceptions out there, but that is luck of the draw !!
Fair enough BP,
but i dont see waffly misleading nonsense stimulating the market either on the back of lower production, minor increase in efficiency, bit of servicing and getting brockham operational.
keep the exciting language for something exciting.. market will react when there is something to react to
I would much rather the concise, boring RNS over their historical RNS's of conditional verbs
SB,
Each to their own, but it won't stimulate the market, just turns it into sleepy hollow !! as with the number of trades so far on an RNS day !!
Nhawan,
"in the run up to the rig starting up at Balcombe."
The RNS says the rigis being set up at Brockham not Balcombe
Nhawan,
Who said it was negative ?? not me, though I would be more inclined to say that the RNS is a lot of nothingness really, It isn't negative, but about as interesting as watching a snail race !! or reading your desperate posts lol...
BP,
i would much rather the concise, boring RNS over their historical RNS's of conditional verbs.
This is a positive RNS. It shows improvements in production efficiency and that they are making money. The trolls are eager to talk it down but I reckon the sp is at the bottom and will only move up from here in the run up to the rig starting up at Balcombe.
Neg heads out again!
>>BLAME those who make the decisions, the market simply votes with it's feet, fact !!
>Operational efficiency was 92% (up from 87% for the fourth quarter 2023)
>> So nothing much to report on that front, a micro improvement on efficiency, even with only one compressor.
>Gas condensate (liquid) production averaged 128 bbl/day
>> Nothing changed there, means that this is "currently" likely the limit of liquids the plant can cope with, Vs gas.
> Full compressor service completed "A" and "B"
>> Good to know after the event !!! you would be surprised at how much it costs in the long run when you run 2nd hand compressors like these, specially when you add up days of lost production, very expensive in the long run. but heyyy !!
>2.30 mm therms per month against hedged volumes of 1.5 mm therms
>> and ???
>Rig Q2 to reinstate production from the Brockham 2Y well
>>> ZZZzzzzzzzzz as said, a lot of effort and cost for marginal gains at best, BUT better than it stagnating.
All on the back of the Hedge dropping again in June and then just 12 months before current Hedge expires.
Ehhhhhhhh,,, they are under Trafigura and their ermmmm hedge,, I mean terms !!!
Neg heads out again!
>Operational efficiency was 92% (up from 87% for the fourth quarter 2023)
>Gas condensate (liquid) production averaged 128 bbl/day
> Full compressor service completed "A" and "B"
>2.30 mm therms per month against hedged volumes of 1.5 mm therms
>Rig Q2 to reinstate production from the Brockham 2Y well
All on the back of the Hedge dropping again in June and then just 12 months before current Hedge expires.
AND there lies the current problem, "it seems OK" !!
Nothing to wake up and get excited about, and the market is displaying that. In fact I would almost go as far as to say that whomever actually wrote that RNS has written it in such a minimal and boring way that it reads like they hate the market, the punters and those that have pretty much worked them out.
I don't think Brockham is enough of a potential driver for anything, better than it doing nothing, but likely a lot of effort & cash for a very small reward. NOW if they said Balcombe, instead of Brockham, then I might have felt a tinsy little spark of hmmmmmmmmmm,, ner mind, one day rodders.
Seems OK, Brockham progress in Q2.
Trouble is, who owns this company? The shareholders or the credit companies lending it money at usurous interest rates?
For those interested fairly regular flows over Easter.
Date EOD (kWh) EOD (mscm)
30th 2,165,556 0.188
31st 2,260,000 0.197
1st 2,211,111 0.193
2nd 2,215,556 0.193