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You maybe right BV.
I notice a company called Lucas Bollney ltd has a 18.75% stake along with quadrilla with 56.25%. One or both might look to off load a bit or all.
I'm not sure on this but I thought Quadrilla was an american company into fracking. They had a test site near my end of the world in Lancashire that had to be stopped when the fracking ban was first badly finished. Maybe they might want out of UK, but I understand they have more interests than lancashire and balcombe
I suppose time will tell and I'll continue to need my snorkel with Angus as I'm definitely under water now.
I was going to average down again at 0.011 this morning but had an argument with my alarm clock and missed it (thank you alarm clock).
Gla. Etc
Angs share will fall below 1p
active so far this session: 16.1m shares traded now.
No RNS, GL probably sitting around a table with his army of advisors working out how much he needs to raise to chase the next rainbow.
The Balcombe news hasn't had an official RNS yet, so most probably don't even know.
Herbert, I think Angus will up their stake in Balcombe as they have in the other assets, look at the pattern.
Well I didn't expect another fall in SP this morning with the Balcombe news. But this company continues to surprise me in a negative way.
I note that Angus is the operator for Balcombe but only has 25% of the interest. Quadrilla is the main holder with more than 50%, so not sure whats going on here again.
Any constructive thoughts appreciated, I'm thinking as the news seemed to come out late yesterday that it was a surprise as well for the Bod and thats why no RNS at 7am, so maybe later today and with some positive news to spin the SP up a bit for potentially another placing!!
Anyway Gla and fingers crossed for us.
8.0m traded already.
AB correct, Balcombe is just a clean up operation and testin the oil flows.
Balcombe has already been drilled. Angus having been seeking permission to carry out a long term test, which they say will generate significant cash flow.
Maybe because they have no money for Saltfleetby, so how do they expect to pay for Balcombe? Us mugs of course… unless they intend to sell it on and give shareholders a double jab…
The market obviously has little interest in Balcombe !!
If anyone goes back to the GL interviews at the end of last year, it was clear that these historical oil assets in the South were very low down the company's priority list. Focus is Saltfleetby to produce enough cash to fund exploration of new possibilities such as geothermal. Whatever oil comes, comes. The plan was quite clearly set out.
Howey, possibly. I was genuinely staggered to see a poster refer to Balcombe as "the real jewel in the crown" for which they'd been waiting. I mean, seriously? And at this late stage???
First off and contrary to the 'pantomime villain' narrative that many try to apply, I categorically do not want ANGS to fail at Sfby. I want the sidetrack to be a success, to deliver a significant amount of extra gas (even if it doesn't turn out to double existing production) and for ANGS to benefit from the additional revenues, pay down its several varying obligations and start delivering a profitable return. If this goes according to (latest) plan, as I have said, I'd see an SP of around 3.5p being within the bounds of possibility.
My less than glowing opinion on the company is based purely on its track record of wild over-optimism and over-egged exaggeration, which has to be seen by any rational viewer as misleading. Classic example - we're now in week 16 of the sidetrack attempt (a reasonable timescale). But George worked himself up into a state of fury when that timescale was mentioned, claimed anyone iestimating this was 'from Mars' and insisted it wouldn't even take half that time...
I of course acknowledge that ANGS has not (yet) made any noise about further exploratory planning permission being granted at Balcombe. You and others will know that the company has historic form in terms of spouting with usual over-exaggeration about 'the next greatest thing', before they've established which way existing projects will fall - so I will be more than a little interested to see how the company phrases this news.
They y never post RNS at 7am or rarely
I wonder what time the RNS will drop?
Did anyone bother to rember to inform ANGS management?
Asking for a friend.
HITS, you've let yourself down a little there and that is a blatant deramp. You've written that suggesting that ANGS might be swayed towards looking at Balcombe and distracted from SFB. You know full well that isn't the case and SFB will be clear, one way or the other, in the next few weeks.
Obviously a functional sidetrack makes the whole thing a damned sight easier but this is another revenue stream to aim at.
I'm feeling a lot more positive than I was watching the SP going down all day!
GLA.
I dare say there will be a few tossing and turning tonight. Mirasol/WG/Ruth must be spitting feathers, notice how she hasn't been seen since the news dropped but is lurking in the background as she's liked the miserable fecks post.
HITS is it , what a surprise - what a clown , glad i have the clown filtered
ANGS is meeting hedge and btw hedge demands reduce in jun or jul this year and then end completely in 3yrs
I can guess its another sad clown who has to find any negative slant to BALCOMBE NEWS
regardless of any potential at Balcombe (which unfortunately ANGS has spouted arrant nonsense about before now), it goes without saying that George and his executive dream team would by far be best served proving that they can profitably and successfully exploit just one of their assets, something that ANGS has to date entirely failed to do.
Longer term ANGS watchers will be well aware of the company's habit of very rapidly changing horses when they know things aren't going well while riding what they have spent much time promising is their latest nigh on racing certainty. One would hope that this isn't the case. Again. For the umpteenth time.
A few observations:
1) Barnybills great spot, I just hope you aren't Gideons' latest incarnation coz you won't be around for long!
2) Let's hope the company get this positive out there to arrest the slide.
3) Tygra, that is your most positive post for months! I'm pleased you're pleased.
4) Baits, you have been talking this up for as long as I can remember so I'm guessing you'll be back in soon!
Let's hope this is followed by an upturn in Saltfleetby fortunes!
GLA.
“Angus Energy submitted a planning application to West Sussex County Council (WSCC), in 2020, to perform an Extended Well Test on the Balcombe 2Z well. The project should generate significant cash flow for the company, however the WSCC Planning Committee have refused the application. The Company has had further discussions with West Sussex County Council and has submitted an appeal to the Planning Inspectorate. The WSCC Planning Committee’s decision to reject our application was against the Planning Officers’ recommendation to approve.”
https://www.angusenergy.co.uk/what-we-do/balcombe-discovery-pedl244/
and so the man from Del Monte, he say yes
60. In my overall judgement, the national need is the overriding consideration and
furthermore amounts to the requisite exceptional justification for permitting
this major development within the High Weald AONB