Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
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10 posts all day. Hardly a 'ramp-a-thon'.
And I fail to see any that could be considered a 'ramp'.
The lse market report signals the rise of 16% today in Rupert Labrum's other significant AIM holding, Primorus Investments.
Postalot
Looks like they deleted LLTM's silly post as well, the one I responded to. . Shame, I must of hit a nerve.
Carry on (with the ramp-a-thon). Good night.
Note: my post of 14:38 was in response to wealdpwr's, which has since been deleted.
Mike Wells
Director of UK Operations (Non-Board)
Mike began his career with BP at Eakring and was involved in the development and appraisal of many wells in Lincolnshire and beyond including the original successful exploration wells into the Portland at Brockham.
Following time with Candecca Resources, Mike was employed by ROC Oil to oversee the Saltfleetby Gas Field (the “Field”) and he remained with Wingas UK Storage Ltd on its acquisition of that Field. Mike has extensive experience in field management and engaging with all regulators.
That’s the cost they give in the investor presentation.
In the drill or drop interview GL explained it gets incinerated.
"At £49 a barrel disposal cost "
That is an astounding amount - I'm sure I remember someone saying that most onshore UK offsite disposal was around £ 10 £ 12 a barrel
My reasearch resulted from the answers that i have allready asked...as you well know.
If you don't like the information I supply the filter button is at the top on the right.
https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa
Lukan has also been clear that the OGA figures are correct
IN 2017 Saltfletby produced 604.,41 tonnes of water................ At £49 a barrel disposal cost it kind of adds up!! do the Maths
And just to muddy the waters further Water cut had dramatically worsened from 2016.............£1 FOR A REASON
Odear LLTM
none of this is an assumption... it's all facts.
It also states that in the latest accounts up to December 18 that the Staff totalled 11. Only a couple of months later the talks started so you can assume said staff have been TUPE-ed Over?
These are costs that need factoring into the current cash balance.
I take it that was tongue in check??.... Reported losses of £57.43 million in 5 years!!! Doesn't take much figuring out why it only cost a quid really does it.
Be a bit reasonable mate.
Wingas were running the operation down - it could never make money at the end due to their high overheads, manning cots etc . I have no doubt Angus can operate it at a much lower cost once they have it up and running. And therein lies the issue - it will take 12-18 months minimum - and in that time there is no income here - only expenditure
2018 Turnover £0 Million.............. .Loss for year £2,70Million
How long have Angus owned this Asset now?........Loss for year £2,70Million!!!!
I would also draw your attention to the following from Previous saltfleetby operator wingas and from
SALTFLEETBY ENERGY LIMITED published companies house report.
SALTFLEETBY ENERGY LIMITED
2014 Turnover £14,470 Million...............Loss for year £17.8 Million
2015 Turnover £8,099,Million...............Loss for year £9.58 Million
2016 Turnover £6,954 Million...............Loss for year £24,40 Million
2017 Turnover £3,568 Million.............. .Loss for year £2,95Million
2018 Turnover £0 Million.............. .Loss for year £2,70Million
https://beta.comphttp://www.angusenergy.co.uk/wp-content/uploads/2019/12/Saltfleetby-Gas-Field-Dec19.pdfanieshouse.gov.uk/company/00953066/filing-history?page=1
Ocelot
Not surprisingly i have a slightly different take.
"... as yet indications of cost haven’t thrown our budget."
(What is the Budget? and why wouldn't they answer a simple question. If the answer had benefited their case I'm sure they would.
Yes, the project is viable and indeed highly lucrative even at prices well below the ten-year average.
(Well the question was is it viable at the last produced Figure about 24/25p per therm roughly what it is at present and forward sells up to 6 months are around this level also. So what is this figure that its profitable 45P 40p 35p?
The answer in regard to production for 2017, however, did make sense. I will expect them to alter the investor presentation as it is quite clearly wrong and misleading both on the graph and text.
They really should revue this section also
8 SALTFLEETBY
–Economics Saltfleetby –
December 2019 ECONOMIC FORECAST•Previous fixed OPEX totalled £1.8M in the year 2018. Angus aims to reduce these costs to approximately £1M by cutting overheads and streamlining the operating process.
Saltfleetby wasn't producing during 2018 so how they hope to reduce costs further given they would need to include
"*NTS Entry & Commodity charges estimated at £38k/month based on the rate of 5.5mmscf/d" in this cost would seem an impossible task.
Both in terms of forecast costs and of gas prices, yesterday's answers from the company are encouraging:
... as yet indications of cost haven’t thrown our budget.
Yes the project is viable and indeed highly lucrative even at prices well below the ten year average.
http://www.angusenergy.co.uk/media/investor-questions/
Some interesting background on Salt
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/47922/473-application-wingas-gas-storage-saltfleetby.pdf
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/47922/473-application-wingas-gas-storage-saltfleetby.pdf
Regulatory and Other Committee Open Report on behalf of Richard Wills Executive Director for Communities Report to:Planning and Regulation CommitteeDate:17 March 2014 Subject:County Matter Application – (E)N158/0654/13 Summary:Planning permission is sought by Wingas Storage (UK) Ltd (Agent: Barton Willmore LLP) to construct an above ground gas handling and treatment installation (known as a gas storage facility), additional gas handling and treatment plant and equipment and drilling of four boreholes at Well Site B, conversion of existing borehole for the disposal of produced formation water, construction of a 24" interconnecting pipeline between the B site and the gas storage facility, temporary construction compounds, improvements to existing access road off Saddleback Road and North End Lane and ancillary landscaping and car parking at Saltfleetby Gas Field, Saddleback Road, Howdales, South ****erington.
https://hanginghco.com/natural-gas-pipeline-construction-cost-per-mile/
Steptoes: "you can't believe a word Angus say".
YES - I agree 100%!
YL :-)
Steptoes, Satlfleetby isn't in the share price at all.
Yes the project is viable and indeed highly lucrative even at prices well below the ten year average.
Q. 12b of 20. Saltfleetby Gas Prices: You have also based your Saltfleetby gas revenue calculations in your presentation on the OFGEM figures of 50p per therm. The latest figure that Ofgem list is 24.87 pence per therm. This is below half what your presentation projects. Could you confirm which figures are to be believed the official OFGEM ones or yours? If the OFGEM ones, is the project actually viable?
ANSWER: Again both figures are correct – you have picked one month’s price but in our presentation we made clear that we were taking a 10 year average price and marked this line clearly on the OFGEM graph. Gas prices are subject to cyclical, seasonal and finally local meteorological fluctuations, such as the recent relatively warm, wet winter. Had you asked the same question in Feb 2013 you would have been quoting an OFGEM price of 85 pence/ therm but we wouldn’t based our presentation or our budget on it, any more than we would have taken the $26 barrel oil price in January 2016 and based a 10 year projection on that. We took a ten year average price because the field possibly has about ten years to run. Yes the project is viable and indeed highly lucrative even at prices well below the ten year average.