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Interesting. Brockham licence has had a six-month extension added sometime in the last week!
https://itportal.ogauthority.co.uk/eng/fox/oga-report/PED300X/onshore-licence/?LICENCE_TYPE=PL&LICENCE_NO=235
Couple of late trades lifted the day's volume over 5m shares.
Hi Mirasol
It's fair to say the OGA would have updated the paperwork if the RNS from the 22nd Jan is to be believed.
Brockham
In our announcement of 28 June and again on 1 October we outlined, as one option to obtain commercial value from the Licence, a plan to resume production from the Portland reservoir. In that regard, we are preparing an application to the Environment Agency for permission to re-inject formation water to maintain pressure in that reservoir to gain maximum hydrocarbon recovery. This will include an updated Hydrogeological Risk Assessment report as per our recent submission regarding Balcombe.
Whilst we await a decision on our application to the Environment Agency, we are this week submitting our final Field Development Plan to the OGA and, assuming that is approved, we will apply for a five-year extension of the term of the Licence to replace our temporary extension.
https://www.lse.co.uk/rns/ANGS/operations-update-jd664idsadthuws.html
Let's not forget that they are now surviving on the £2.5 Million De-commissioning money given for Saltfleetby based on the balance of £2.85 million free cash from the 30th Jan and.(£250,000 A MONTH CASH BURN MINIMUM)
Angus has enough money to De-Commission its assets as of around now, by there own figures and no income.
The OGA will/should be aware of this as they are currently being taken to the high court over failures on the De-commissioning front!
So possibly a month today no more licence....or an RNS with extension details?
The OGA Licensing branch aren't well known for keeping records up to date - they seem to do it every quarter TBH
An interesting date for Brockham!......assuming the records are up to date?
Licence End Date 27/03/2020 (Anticipated)
https://itportal.ogauthority.co.uk/eng/fox/oga-report/PED300X/onshore-licence/?LICENCE_TYPE=PL&LICENCE_NO=235
In fairness, the Weald basin's Kimmeridge has yet to live up to initial expectations: Brockham proved a commercial failure, but so did UKOG's Broadford Bridge before it.
It does mean Angus's Balcombe will attract a lot of attention once it gets under way.
JTP won't see any of that as he can't see past his own ego & greed, now add a bucket load of incompetence and you get the root cause of the debacle we see here, oh while JTP is lining his own pocket either directly or indirectly
"Well the company is in Bermuda, the owner may not be."
I'd be amazed if he was ....
Apologies - but that news doesn't make me feel a lot better TBH........ Australians in Bermuda - sort of reminds me of some other characters around here
p79
http://www.angusenergy.co.uk/wp-content/uploads/2017/02/Angus-Energy-NEX-Exchange-Bond-IM.pdf
wholly owned by Nathan Adamson at the time of the bond prospectus (Spring 2017).
Owned by an Australian gent!
Different company.
This JDA is listed in the TAX HAVEN that is the British virgin islands mirasol
JDA Consulting listed as having 5.25% of Angus has been struck off according to Companie s House............ last year!!
https://beta.companieshouse.gov.uk/company/10308623/filing-history
Wouldnt it be an incredible "coinkydink" if Rupert L and Paul F new each other!??!
Significant shareholders' stakes adjusted for the most recent conversion into shares (24.95% in all):
Knowe Properties Limited 7.96%
Rupert Labrum 6.99%
JDA Consulting Limited 5.25%
Jonathan Tidswell-Pretorius 4.75%
The above information was accurate as at 24 February 2020.
Lol....Back on filter!!!
It's not "scaremongering " Its perfectly clear by the RNS that Saltfleetby Energy still have the 10KM gas pipeline to De-commission! Circa £9.5 million quid if you take the £2.5 Million given to Angus for The well de-commissioning.........We now Know Angus isn't liable for any of that cost according to the Q&A......You should be pleased?
However, the "FIELD ABANDONMENT NOTICE" is still in place and would need to be lifted meaning both partners in PEDL005 will need to satisfy the OGA before any movement can be made!
Forget 2027 worry about 2020!
I wil answer as its quite on here.
A couple of reasons
1. the fact that this was the question i asked on the Q&A Board very different to the one they published!!
Your RNS Of 1tth June is unclear and contradictory as to whether the liability for all abandonment costs surrounding the subsurface works would be shared 49% /51% for these works Following reconnection.
Having looked over Saltfleetby Energy Ltd last filled accounts it lists De-Commissioning costs at £12,837,730. Could you please clarify if Angus would be 51% liable for any “surrounding subsurface works” Following re-connection
2. Last filled accounts. Have a look at costs for De-commissioning......... it's like shooting fish in a barrel...lol
https://beta.companieshouse.gov.uk/company/00953066
So according to the Q&A page, the Saltfleetby Field abandonment notice was placed when Wingas changed name to Saltfleetby energy services. The OGA consider Saltfleetby energy services one and the same. In fact, only Forum are listed on the attached.
https://itportal.ogauthority.co.uk/information/licence_reports/datacompanyinformation.html
Forum from all available research are in fact, one man! " Paul Forrest" worth considering with the fact the Sub-surface de-commissioning costs associated with the licence will run into many millions!!.......the OGA will/should when removing the abandonment notice!
No connections here at all for anyone to desperately try to hide on a BB!?!?!
Just in case anyone thinkks there isnt a connection!
https://itportal.ogauthority.co.uk/eng/fox/oga-report/PED300X/onshore-licence/?LICENCE_TYPE=PEDL&LICENCE_NO=005
Interesting link from skittish over on" AAOG "bb regarding our joint partner at Saltfleetby.
Forum Activity24 Feb 2020 20:27
It looks like Paul Forrest's mate Derek has downed tools at the landscaping business.
As of 10th February 2020, and filed today, Paul Forrest controls 75%+ of the shares (likely 100%) in Forum Energy Services Limited which in turn owns
a) 24% of AAOG
b)100% of Saltfleetby Energy Limited which in turn owns 49% of the Saltfleetby gas field (Angus owning the remaining 51%), has £12M in its bank account and £60M tax losses.
Previously Paul Forrest and Derek Brouwer owned Forum Energy Services Limited 50/50.
https://beta.companieshouse.gov.uk/company/09903234/filing-history
Angus Energy confirmed that the legal formalities for the 51%/49% holdings in the Saltfleetby field were completed on 28th January 2020 and that they were then moving towards production. The CPR on the field must also be almost ready.
No information as to who the "investors" on whose behalf Paul Forrest owns his shares.
Still here, awaiting developments.
Where is everybody gone?
Monday afternoon after trading hours and no posts?