Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
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Hits. As you come across as so learned regarding the sidetrack, could you point out for a layman what could go wrong? Surely these are professionals carrying out the work and wouldn’t even attempt it if the odds were not favourable?
The forecast from the CPR dated 22nd OCT 21 (p25)was :
“The operator will drill a 450m horizontal side-track from the existing SF7 well, targeting completion before First Gas and increasing the deliverability of the facilities to over 10 MMSCFD”
I missed what has caused the delay until 2 months after first gas, possibly manpower focussed elsewhere or Rig availability.
Nevertheless who knows what production could achieve at first gas after 41/2 years of shutdown (DEC17) - maybe nearer 2Mtherms ??? - but then the real issue will be rate of depletion.
Certainly not NAILED ON.
The nailed on bit I believe will turn out to be Brockham and Lidsey - and then maybe Balcombe.
"BV, Where are we with Lidsey?"
Waiting for a farminee - likely name Godot.............
Quiet time before the herd and day traders arrive, not long now until we see all that oil and gas .
Buy buy buy!!! Loads of lovely gas!!!
...and as ever, all the deliberately ddeceptive ramp squad can do when confronted with the most simple of factual maths is resort to childish insult. One does wonder what they're so scared of?
It's ever so simple... if ANGS manages to get 3 million therms out of Saltfleety via a successful production-doubling sidetrack by Oct 1st latest, I reckon it'll be worth north of 5p per share as I have said more than once before. Everyone's very happy with that scenario, of course.
But when I mention the other possible alternative, namely that ANGS only gets 1.5 million therms a month out of Saltfleetby ongoing and point out that this would mean it wouldn't make any nett profits out of the field over the next three years, the heavenly choir goes mouth-frothingly crazy with rage.
It's laughable, really. Both scenarios are accurate and both are equally likely. Why try to pretend one doesn't exist?
Had my doubts at first about GL delivering on his promises,but the regular tweets as equipment is delivered,gas price rising mean that "Angus" should be making money hand over fist.
Can see a offer for the company on the cards.
Critical shipments of natural gas are being turned away from British ports because National Grid fears it will be overwhelmed by supplies intended to tackle the European energy crisis....
I don't subscribe. The beginning of a Telegraph article dated yesterday.
RT, anyway back to business mate.
Indeed BV
I genuinely find it incredibly sad that grown adults (almost certainly) can have any self respect when paid to go from oiler to oiler on each forum spouting absolute utter bollacks
Quite astonishing it really is
Yanis, Balcombe would be a nice bonus, every little helps as they say at Tescos lol!
Shell are inbound
RT, when TITS goes over to the other platform it will be noted that he has had a good slapping on LSE yet again lol, just clout them back over the nett from where they come from.
Cheers BV. We are in Q2 now, so a Lidsey RNS can land too.
*UK GAS JUMPS 21% AS GRID LIMITS LNG CAPACITY IN AUCTIONS
https://twitter.com/zerohedge/status/1526196906883526657?t=gYB78yAx9sKbGxkBWXXUOeVXqJzq3cXu3iKWR9K3e3Y&s=19
Yanis, I think GL menioned Q2 for Lidsey, and yes we could get the Brockhan RNS any moment like you say, maybe TITS will do the oil production spreadsheet for us lol!
Totally hilarious BV I agree
I watch these roasters spill over onto other oilers spouting the same uber bollacks no matter what or where
What desperately utterly sad lives they lead
We could be getting a Brokham update soon.
BV, Where are we with Lidsey?
The Rig for the sidetrack is paid for and it's ready to go for June/July as stated by the CEO. Stars are aligning here for a material rerate as the company moves to become a significant cash flow producer. Right time right sector.
Donk
I’m not confused about anything.
It’s all available for anyone to look at. The switchgear lives in its own room, in position as shown on the plan for a month or two, the analyser house is now finally in position as shown on the plan having been the fist bit of kit delivered. The controls room isn’t in position and we have seen no pictures of it! It’s not classed as a skid like the gas generator!
And for the 10th time I’m not a woman (sexist and demeaning comment from you anyway) and your just making stuff up that you accuse me of having said!
Strange that you and Stockbobs caps lock are both broken again!!???
hit/ get off this board with your negatives you never post the positives and you never post the full contract that G/l has and what he can do with it,
No your aim is to discourage new investor why l don't no{ your not a investor and you said that in your own words "so what's the true reason that you post on this board around 150 times a week on average .
By the way, RT003 states "Angus could be producing 2.9 Million therms by end of June..."
Err, absolutely not. Not even ANGS has claimed it can start and complete a successful sidetrack within 4 weeks. The estimated possible production out of the field for June is stated by the company as being 1.5 million therms, and even then, only if it starts full production on June 1st.... in 15 days' time.
It is currently "hoping" that any drilled sidetrack - if successful - might kick in by some time in August.
But hey, never let the truth get in the way of a ramp, right?
It's not even yet confirmed whether it can attempt a drill without suspending production.
I'm no deramper. I want Angus to do well, simply because I like money. My concern is that the sidetrack produces before Oct when the hedge volume increases. If we don't have money for the sidetrack but are producing later than June, say mid July (which is more than adequate 2 months from now), maybe they go to the market for equity or debt.
It's not the end of the world. I think some or us are just more anxious than others.
A_D
Again, any rise (or fall) in gas pricing is literally utterly irrelevant to ANGS unless it manages to produce more than the quantities hedged for the next three years.
Average Dave, your calcs sound pretty accurate.
It's really easy to work things out.
The amounts hedged (by monthly therms) and the fixed pricing for such are publicly viewable on p 49 of the Oct 26th 2021 valuation report on the ANGS website here:- https://www.angusenergy.co.uk/wp-content/uploads/2021/10/Angus-Energy-Saltfleetby-Reserves-Valuation-Report.pdf
Latest future gas pricing by month is available updated on a live basis here:- https://www.barchart.com/futures/quotes/NF*0/futures-prices
It's 2 mins work to knock up a spreadsheet showing what ANGS and SEL are left with in terms of gross revenue, depending on the amount of therms produced per month.
If the field only produces 1.5 million therms a month, then ANGS and SEL are left to share c. £6.6 million of gross revenue between them in the year to end June 2023. Clearly, that's not going to cover the c. £14 million of loan plus interest.