Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Best you actually do a bit of research before posting further JD
From the Funding RNS.....Who is first mentioned”
“With the financial, commercial and technical support of Mercuria, Aleph and its partner Albanwise Synergy”
https://www.lse.co.uk/rns/ANGS/saltfleetby-field-finance-and-operations-update-6ubb80yfyuet376.html
So I ask you again. Why would The funding partners possibly agree to delaying the sidetrack when it could cost them Millions?
They hold Angus and SEL by the short and curlys.
https://find-and-update.company-information.service.gov.uk/company/00953066/charges/u3rPeq0F7fy-GpBQzxjwLtNzQro
https://find-and-update.company-information.service.gov.uk/company/SC055329/charges/737ZsQi1nDFnY4ffxPM2Yz2jIZE
Aleph have put in £12 million because they know it is a safe investment that will net them a good return. Shareholders will benefit even more. Simple math. The mult id users here (wg818) will try to say otherwise.
JD-Nau
I hope you have calmed down now? Calling other’s Liars is frowned upon by Admin don’t you know! With that in mind I attach the following. Please actually read them before throwing any more baseless insults old chap!
Obviously I can’t give you any links to Aleph as they haven’t even been around for a year yet....Strange that! ....Do you think it’s anything to do with that legal action being brought against Angus? I can however give you a link to Mercuria the other lender who quite obviously do Hedge!!
https://www.mercuria.com
The 16 week timeline For the Sidetrack program is in this Aecom presentation. It also says they hope for 4 to 5 MMSCF from the two existing wells on resumption and possibility that they may require workovers at switch on.
https://consult.environment-agency.gov.uk/psc/ln11-7dj-angus-energy-weald-basin-no-3-limited/supporting_documents/NonTech%20Summary.pdf
It seems to be beyond you so……Zoom into Saltfleetby it’s just below the Humber bridge. You then have all the info you need.
HTTPS://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa
Anything else you want?
"Under the old management the company made many mistakes "
And JTP is still there - and the new management manged to get the cost of SFB redevelopment right didn't they - only out by £10mm
JD, I must agree with you about the old guard who got caught out continually knocking Angus. I am unconvinced about geothermal but believe that if SF can be got into proper production at elevated gas levels shareholders will do well from current levels. The £1 party has long since disappeared as have the 50p, and 25p parties. However, the 4-8p party is doable so for many here there is still hope. Fingers crossed.
Mirasol – I am an investor who has been invested in Angus for years as I live quite close to one of the company’s old Weald sites. Under the old management the company made many mistakes but I am sick of this coterie of old investors who cannot move on and who have decided that because Balcombe didn’t work and they lost money by investing at a ridiculously high price that that they can make up any lies about the company that they choose. Why should they (and I include you in that) talk my investment down. Saltfleetyby is not Brockham and some red/black gamble it is a sensible grown up cash-generative proposition. The move into geothermal also shows that the company have got an eye on the fashions of the future. I like where it is going and am not going to have a bunch of morons lying to deramp the company just because they feel that they are owed something because of their own poor investments. I lost money on Brockham too, but I don’t cry about it and I have worked hard to get it all back. I have put more money in here and stand to make a lot of cash when Saltfleetby takes off and the market recognises what Angus have got. No doubt you will just carry on sitting there are calling it poundland even as it generates tens of millions per year in cash flow.
My goodness JD - you really have come alive on here!
I hope they're paying you by the word.................
"Mirasol, is there any share you are supportive of at this moment in time?"
yes but its hard to be positive about small onshore UK Oilers
DoneK – exactly. None of these statement from them makes any sense. When the gas price was low they said that the company would never break even. Now the gas price is high they say that the company will not be able to make any money out of it because the mysterious backers of “the hedge” will not let them produce oil when the price is high.
They also claim that everything that is said in the CPR is nonsense and that they know better about everything. The worst part is that they keep repeating the lies until some people start to believe them. However, as you have noticed today every time I question them on the detail they can’t answer – because they are just making it up and hoping nobody notices.
I have no ****ing idea why they are doing this either. My best guess is that they are old investors who got spiked out years ago and are all angry at having lost money in the past . They are also probably associated with that Anti-Angus-Action-Group set of idiots that were on here years ago promising that they would sue the company and get everybody’s losses back with a backer who would pay for it all. Several years on and we see clearly how that little fantasy shattered on the rocks of reality. It seems like many of the old derampers have had their identities banned, but many of the newer posters here post just like the old ones used to. They are like a dog with an old bone and just will not give it up. I would not mind but their own selfishness is costing me money, so I am not going to put up with it any more. I am happy to have a sensible discussion with those who have their facts straight (even if I disagree with them) but not with those who just lie all of the time - them I am going to call out.
so on the one hand WG is stating that SFB is not worth the money that has been invested to bring it back to production, because it wont produce what the CPR states it will.
then on the other hand ANGS will not be able to afford to pay back the loan and so the assets that WG claims are worthless will be given to the lenders.
cant have it both ways..
With Saltfleetby having the 30% at much higher pricing, It's like having a partial sidetrack if production resumes.
Mirasol, is there any share you are supportive of at this moment in time? Or do you just post about negative shares you may not be invested in?
"What makes me laugh even more is that DoneK has found the accurate information from the Angus Q&A site"
Who can forget the ANGS site about Brockham??? Right up until they pulled the plug
Welcome JD-Nau - another new convert to ramping here after 4 years of doing very little on this board - or perhaps you are someone else? Seems to a lot of newbies on all the small oiler boards - and they all support the various BoD's
"The derampers such as WG have been proved to be liars about the production from Saltfleetby being only 2.5mmscf per day when it will be over 5 and hopefully more like 7mmscf"
He can hardly be wrong when ANGS haven't produced a whiff of gas yet. What you mean is you have different views about FUTURE production levels
Wg you’re actually showing you don’t actually know much about the company just poor at deramping.
At the current price this is 3 million a month before the hedge kicks in and then £1 million a month afterwards. The prices may go down next summer but this is big money nonetheless. The derampers such as WG have been proved to be liars about the production from Saltfleetby being only 2.5mmscf per day when it will be over 5 and hopefully more like 7mmscf. WG also proved to be lying about the fact that Angus have to drill the sidetrack before June.
WG818 - You have started badly and got worse!!
Everything that you have posted today has been PROVED to be nonsense. You are unable to answer any questions on your research because you haven't done any, you are just relying on " a bloke on twitter told me".
You are an embarrassment to the Incompetent Persons society. Or maybe not.
A new question for you since you have been unable to answer any of the other ones - where do you get the evidence that Alpeh are involved in the hedge? A nice simple link to the document will do. Or will this be another example of your inability to justify the claims that you are making.?
tick tock...
Don't forget GL said the gas pressure is building after checking the gauges on site ages ago!
You started so well!! Gone down hill rapidly after that though.
The link supplied gives you all the information. Try spending 10 minutes looking at it and you may change your opinion. Or carry on posting trying to discredit those who have actually done some research.
Your lack of an answer sums your argument up nicely. Tou don’t have one!
What was the share price when those Wonga loan guys bent Angus over a barrel? About 20% above today wasn’t it? Says it all really with gas prices as they are.
Angus are producing 1.6 million therms a month even without the sidetrack and according the the Q&A site they say that 5mmscf per day is conservative anyway and it will definitely be more.
So looks like huge potential here very excited and very cheap price right now
"I’m afraid you will have to put a little effort in to get to the figures.
They have been put up on Twitter if you can be bothered to look #ANGS"
Ha ha ha ha - so in short you cannot provide a link to the OGA figures and are relying on "what some bloke said on twitter".
Stunningly incompetent, and yet you expect us to believe that you know what you are talking about. Every time you post you simply show up your lack of knowledge further and further. What makes me laugh even more is that DoneK has found the accurate information from the Angus Q&A site apparently effortlessly and also proving that your allegations about the future Saltfleetby production were either deliberately lying or merely incompetent. I won't rub it in, but you know that I don't think that you were deliberately lying.
I am still waiting on the link to the documentation showing that the Angus hedge is about a minimum volume of gas rather than a percentage of production. Or are you trusting "a bloke off twitter on that too"?
As for your question, think a little harder about it and see if you can work out why you have got everything wrong. Because you have.
Again.
JD
I’m afraid you will have to put a little effort in to get to the figures.
They have been put up on Twitter if you can be bothered to look #ANGS
I had the courtesy to post you the link as requested.
it’ says more about you than I that you couldn’t figure out or take the time to get to the figures!
Could you do me the courtesy of replying to the question as to why Aleph and Mercuria would possibly slow Angus to delay the sidetrack possibly costing them millionS?
Wealdpwr,
Of course I know that Aleph believe that they will recover their money otherwise they would not have invested it. This is not a guess, it is simply a fact. Nobody invests £12 million as debt without doing the due diligence to realise that the asset the £12 million is secured against is worth many multiples of that. Otherwise the loan does not happen.
And of course, since Aleph valued Saltfleetby at several multiples of £12 million when they made the loan ordinary shareholders will also benefit - the much more so since gas prices are now at almost 5 times the level they were when the loan was made. Saltfleetby was already worth many multiples of £12 million and with the new gas prices looking like they are here to stay it is now worth many multiples more than it was then.
By the way, Wealdpwr is a wonderfully appropriate name for someone who writes a post that is lacking in research and intellectual rigour. Your post contributes to this forum what the output of the entire weald does to the UK’s energy needs – absolutely nothing!
Alas WG818 my wait still continues, as the link that you sent just takes me to a generic page which does not show the production from Saltfleetby at all. Please try again with the full link this time - if it exists.
I am also waiting for the documentation showing that the Angus hedge is about a minimum volume of gas rather than a percentage of production? You appear to have failed to provide that as well.
0 for 2 so far and another example of an Incompetent Person Reporting again I am afraid...