Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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For Mirasol.
https://twitter.com/angusenergyplc
They look to have achieved a fair bit to me. The last hurdles are the most important but we are close and you know it.
GLA ANGers, not long now!
This has been posted before - just a reminder of how it might be:
IQ on 27th Oct 21: (paraphrasing)
Q. What is the predicted output of Saltfleetby without the sidetrack being drilled?
A. The lenders technical advisers and Angus evaluated the deliverability of the existing two wells as being likely to be greater than 5 mmscfd. The reasoning was twofold.
1. In the last years of delivery to the old Conoco refinery, average production was constrained by persistent issues with the main compressor at Theddlethorpe.
2. It was the view of technical experts that, following a prolonged shut-in, the two wells should have improved in the first 18 months -so it is our view that the hedged production should be able to be covered by these two wells in the event of failure of the sidetrack.
Q.If the sidetrack is successfully drilled, what would you hope would be the total gas output of Saltfleetby mmscfd in a worst, probable and best case scenario?
A. Forecast : Worst 7mmscfd, Probable 10mmscfd, Best 10mmscfd (but extended for a longer period of time).
Note, the combined deliverability of the three wells will exceed the production rate during the plateau period which is LIMITED to 10mmscfd by virtue of the process equipment.
then their continued posting is a persistent reminder of the failure of this company to ever achieve anything they ever promise
Note: if they are some of the remnants of the anti-Angus action group, then their continued posting is a persistent reminder of the failure of their legal ambitions.
Look at Tradedesks post s - on other stocks - he ramps away like crazy and then drops out..............
They might be the remnants of the anti-Angus action group which was active for a while after the Brockham RNS of 28/06/19. Unable to pursue their legal ambitions, they took to posting negatively on bulletin boards.
Ocelot - they are trying, usually means we're onto a good thing tho. Think about it they aren't invested and apparently aren't interested in gaining a lower entry so why continue posting like a nut job on one company day in day out, habitually talking it down is all a bit desperate.
On top of this gas coming we have at least 100 bopd from Brockham which we will hear about in a few days time. That is worth £3m a year.
It could even be more.
Yawn.
"However with our side track we are actually addressing the better understood main reservoir again and not that southern lobe; we are also aiming at an area within the main reservoir which we know with exceedingly high levels of confidence to have been both greatly productive and not exhausted by previous boreholes."
GAs may not come on 1st june, or the 2nd or third. but its coming that's a fact
It was inevitable that some of the naysayers would begin to focus on the sidetrack as soon as they became convinced first gas was fast approaching.
It is, therefore, bullish they are now turning their attention to the sidetrack.
Lets not worry about them and continue posting balanced views/research. The company is at some seriously big inflection points now, huge value drivers in sight with precedented global and domestic demand for NatGas. With the macro environment the way it is Saltfleetby is a very very unique facility, the demand for Angus shares could go through the roof , like eua & ukog few yrs ago. UK needs the Gas.
Seems tradedesk missed this one though!!
Guess what! The Sidetrack is from SF7 and now heads west!!
I read in the accounts of Wingas that the last well drilled – SF07 encountered a lot of difficulties and had to be shut in. What makes you confident that you can make more of a success of your proposed sidetrack through SF05 scheduled for 2021? (This question formed part of larger question already published but the full historical data has taken a few days to assemble) Asked on 5 August 2020
The Saltfleetby 7 sidetrack was drilled from the B site towards the West, as can be seen in Figure 5 in the CPR (Structural Map of the Top of Westphalian Reservoir (Unit 2b)). The well was first perforated in the Brinsley Abdy formation, but failed to flow oil. Thereafter there was significant differential sticking in the Westphalian unit and the well was sidetracked to penetrate the Namurian C which was thinner than prognosed due to faulting, and so another sidetrack (SF07Y) was drilled into a thicker Namurian C sand. After completion and perforation in 2003 the well flowed 2.4 mmscf/d of gas on test. However, once the well was linked up to production equipment it became clear the reservoir had suffered some form of permeability impairment and the well gas rate was restricted.
With respect to the upcoming SF05 sidetrack, this is to be addressed from the B site in completely the opposite direction towards the East, tapping a prolific part of the reservoir. The well is to be drilled using techniques that will negate the impact of any differential sticking, and also in to an area where there is good well control (SF3z and SF5). Therefore we have good reason to be confident that we can avoid any of the issues seen in SF07.
Our new sidetrack is intended to accelerate reserve recoveries from this better understood and obviously prolific part of the reservoir rather than to address potential new resources in the Field. We would also aim to reinterpret the seismic data over the line of the well to ensure we do not hit any unexpected faults. We aim to begin this modest sidetrack operation in Q2/Q3 next year once the field has resumed production from the two existing producer wells, and all regulatory applications will be submitted in due course to try and achieve this target.
hit/ is a computer warrior hides behind a key board l think if he was at a public meeting he wold end up on the deck the weasel
Donek - Haha post of the day bud. Enjoy your evening ;)
Tradedesk
WG knows better,
its a wonder why the project was loaned 12 million quid, when there due diligence only had to be reading WG's posts on a free BB.
George Lucan "We have adjusted the angle of approach accordingly...nothing in drilling is without risk – but in terms of basics such as where to drill (finding the most productive layer) & how to drill (and avoid sticking or hole collapse), most seasoned operators would see this as much lower risk, in fact, than would be the case on any relatively newly addressed reservoir."
Nearly game time.
"However with our side track we are actually addressing the better understood main reservoir again and not that southern lobe; we are also aiming at an area within the main reservoir which we know with exceedingly high levels of confidence to have been both greatly productive and not exhausted by previous boreholes...."
"...the record was excellent until previous operators attempted to address the southern lobe of the reservoir. SF02 did not require a side track at all and was a good producer. SF03 required one sidetrack and was a good producer. SF04 likewise a good producer, no side track required. SF05 again no side track..."
"SF07X and SF07W were drilled in 2016...It should be noted that the drilling manager at the time proceeded against the explicit advice of the drilling company and indeed the company’s own consultant engineer..."
"Again we go into this armed with previous operators’ experience and indeed a full audit of our programme by an Aberdeen based but internationally renowned engineering and drilling consultancy as well as the Lender’s own Technical Committee, manned by experts from a variety of backgrounds. We also have fully reprocessed seismic to guide us past any localised faulting."
Lucan is doing this with the full consent of all technical experts and reprocessed siesmic. No corners being cut, you don't have to like him for that but he's getting this done. First Production early June, paid for sidetrack end of June/beginning of July. It really is game on here.
https://www.bloomberg.com/news/articles/2022-05-16/uk-plans-to-label-gas-as-a-green-investment-to-replace-coal?srnd=premium-europe&sref=Em01M8Hr
From Bloomberg's home page.
Mirasol, and your point is what, it's going to happen no matter what the plan is end of.
'Its ever so simple'....yeah you make a great buy case for ANGs, if it takes just a few months to reach profitability from initial revenue generation then thats the kind of business investors want to be positioning big for down here ;)
Some companies don't realise a profit for years but on a PE of revenues are worth multiples of there market cap! Some have zero revenues in fact a la PANR £940m JOG £84m 88E £100m. Long way up for ANGs from £16m then.
Make that 29th
carpking - see IQ 27th July 21
Looks like the merchants of doom are arriving, lol.
Hope you enjoy the forthcoming show..not long now folks.
5,4,3,2,1......and you can all blast off to another board, while the rest of us can really enjoy the show.
Carpking, I don't claim to be any sidetrack expert at all.
All I've done is look at what revenues are delivered with a successful sidetrack and what revenues are delivered without one.
If you want to find out what can go wrong with sidetracks, why not read up on what went wrong with the last four attempts to sidetrack from the well (SF07) that ANGS is going to attempt to drill from? I imagine it had to be professionals who went to the time and expense of each of those four attempts with some expectation of likely success?