Member Info for Alan2017

gkb47 - very strange indeed.....The Angus comment "...while revealing nothing about themselves" is rather a strange thing to write considering I have posted multiple questions on the Angus Investor Forum to which not only did George Lucan reply to me via my email address, but he also posted my full name on this site with his one and only post which LSE removed (Georgelucan). Below is the email I sent to George (prior to knowing he had posted the details I had given to the Investor Forum) I'm sure someone took a screenshot).

Good Morning George,

Thank you for taking the time to respond to my questions. I appreciate you had a very hectic start to the job with Brockham EWT and the boardroom upheaval prior to your arrival.

Angus has a lot of making up to do with regards to investor relationships after the multiple events in its short life. I see only one investor asked a question besides Rupert in the recent Investor Conference Call. I find that sad and belies Angus current standing, which has nothing to do with you personally.

A company can only move forwards if it has learned from its mistakes and Angus have had systematic failures especially with regards to critical spares:

4 month delay at Lidsey due to not having spare parts for downhole pump.
6 month delay for not having a bridge plug as a contingency component at Brockham (you don’t need to have them bought and sat on a shelf…you can just pay a minimal rental charge).
Not having spares for the completion test string is a big no no.
Not having critical spares for the Balcombe 7 day well test was a major oversight.
The worst one has to be not realising that not all the completion fluid lost to the formation hadn’t been recovered intern stifling any SP recovery with an RNS that dedicated 50% to the encountered formation water. Anyone with any experience would know to look at the Daily Drilling Report, Daily Mud Report or Daily Mudlogging report to see what the Daily / Cumulative Fluid Losses to the formation were for the reservoir section. Its not like you are doing a workover operation on a well drilled in the 1980’s with shoddy paperwork. Balcombe was drilled in 2013 and its a requirement to note the volumes on varies reports for this exact reason….so Production know when to expect hydrocarbons.
Running a bridge plug through perforations and not having a spare is gambling on a massive scale. Worst of all I asked Angus Twitter page on numerous occasions if a spare had been ordered. I received no response which is telling. Perhaps you have somebody else now running the Twitter Account which I hope.

Regarding planning Angus has drilled from the wrong well resulting in a 2 year delay before even starting the well test and has now caused itself further headaches by not understanding the Balcombe planning procedures which again has created an unnecessary delay of how long? Who was in charge of this and are they still at the company?

Wealdpwr - do you know Angus also pay out £140,000 a year to the Brockam owner regardless of whether 1bbl of oil is produced.....

One of the questions I sent Angus was:

Regarding your RNS 2nd Oct 2018 for Balcombe 7 day test.

How many barrels of oil were recovered for each individual test (to give you 853 / 1,587bopd, as well as 3,000bopd slugging) and what was the test time period for each to the nearest 15 minutes.

The reason for the question is witnesses didn't see any tankers leaving with hydrocarbons during the test period and the RNS rates have been averaged over a 24hr period.

A test for 1 hour with 35.5bbls of oil recovered gives you +/-853bopd, but that is not physical production.

Publishing these numbers will give your much weary investors some confidence, as up to now targets / times scales have been woefully inaccurate.

“The test utilised Nitrogen and coiled tubing to clean and prime the well which when removed allowed a natural flow at 853 bopd equivalent, not including 22.5% water. A second flow period was undertaken with the well flowing naturally at 1,587 bopd equivalent, not including 6.6% water.
……During the initial flow period, the well slugged at up to 3,000 barrels per day which had to be reduced as it exceeded separator operating capacity. Duration of the test runs were limited.”

http://www.angusenergy.co.uk/wp-content/uploads/2018/10/18.10.02-RNS_-Angus-Energy-Completes-7-Day-Well-Test-at-Balcombe.pdf

RealAnalyst - Yes I note 5 questions that they have chosen to ignore and I believe Greenfish has 2 questions as well that haven't been posted ....so that makes 9 questions already.....which isn't very good is it?

Ocelot - please show me where in this RNS George Lucan' Oil and Gas credentials. Perhaps Angus are now embarrassed by this RNS as it quite clearly states he has no oil / gas experience and is only an interim MD.

“George Lucan will act as interim Managing Director pending the Company's continuing search for a permanent appointment with industry experience to develop the Company's business beyond its current core strategy.”

http://www.angusenergy.co.uk/wp-content/uploads/2019/01/Retraction-of-Requisition-of-GM-Board-Changes.pdf

Greenfish89 - did you post your question (see below) on the Angus Investor Board as I don't see it there?

"There have been posts detailing Patrick Clanwilliams’ previous business history which to say the least is checkered and the internet has a lot of articles detailing these.

He doesn’t seem to have any experience in the Oil and gas Industry and the companies boards he has been on faced SFO investigations (Soma Oil and Gas), $6.6 Billion missing from the accounts (NMC) and the most serious of all Mr. Clanwiliam didn’t divulge he had connections to the Major shareholder who forced through a merger after Mr. Clanwilliam (Chairman of the Special Committee) at Eurassia Drilling for a much cheap buy out price.

Who actually brought him into Angus and were they aware of these numerous incidents at his other companies? Is it right Mr. Clanwiliam should be sat on the AIM Compliance Committee after he was proven to have lied?"

Greenfish89 - did you post your question (see below) on the Angus Investor Board as I don't see it there?

"With the ongoing Corvid crisis Oil and gas companies have been streamlining their operations by suspending some projects, reducing employee numbers and introducing pay cuts of 20-30% with management taking a higher pay cut.

Angus Energy salary is over £1 million per annum without including the share bonus scheme, so a 20-30% reduction in overall salary makes a big difference"

RealAnalyst - did you post your question (see below) on the Angus Investor Board as I don't see it there?

I'd really like to know how the search for a permanent Managing Director to replace George Lucan,is progressing.
How many candidates for the position have been interviewed?
It has been 16 months since GL was appointed,and investors really want someone with industry experience.
This is the RNS that was released at the time of George's appointment:
"George Lucan will act as interim Managing Director,pending thr company's search for a permanent appointee with industry experience to develop the company's business beyond its current core .."
Has the search began?-interviews?-an executive headhunter been instructed?

Highroller - "...your comment a pleasant surprise may be Brockham production from the portland. it should produce as much as ukog." is misleading on many fronts.

How many decades has Brockham been producing for compared to HH?
What was the average bopd at Brockham?
How many barrels of water was being produced at Brockham?

"Prior to being shut-in in January 2016, the Brockham and Lidseys fields were producing at a net 20bopd to Angus."

http://www.angusenergy.co.uk/wp-content/uploads/2016/12/Angus-Annual-Report-2016.pdf

Brockham was producing 1,000bbls of water per month before it was converted in 2016. Where do you suggest the water can go without being trucked considering Angus cannot use their water injection well...hence why water is being trucked at Lidsey.

https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa

1,000bbls x £49 = £49,000 a month and what is Angus % of Brockham? 65% is it?

I will let you do the maths to work it out over a year, but its a huge amount...over £382,000.

I also note George Lucan / Angus failed to post the question on the Investor Forum regarding Jonathan Tidswells continued involvement in Angus. Which is a surprise as they are now working together at another company listed on LSE. Along with Knowe Properties. The question posted was:

Is Jonathan Tidswell still on the Angus payroll and if so, what is he actually doing? Please note Jonathan Tidswell brought George Lucan into Angus on 29th January 2019, so virtually February 2019 with no prior experience of running an Oil Company and was only meant to be a temporary position.

“George Lucan will act as interim Managing Director pending the Company's continuing search for a permanent appointment with industry experience to develop the Company's business beyond its current core strategy.”

http://www.angusenergy.co.uk/wp-content/uploads/2019/01/Retraction-of-Requisition-of-GM-Board-Changes.pdf

The only asset that Angus has bought into is Saltfleetby which by your own words in your Investor Forum was “Paul Forrest who runs Forum Energy Services Limited is well known to Angus and, having bid successfully for the Saltfleetby Asset, brought Angus into the transaction on terms already disclosed.”

Asked on 28th February 2019

http://www.angusenergy.co.uk/media/investor-questions/

Ocelot - I suggest you read the West Sussex Planning Officers (who were always oil friendly) remarks in their report when they refused Balcombe Planning Permission in March 2020. It doesn't matter how George Lucan phrases it with his English degree from Cambridge in a report....he is not the one who decides.

Remember his response to the question put to him in November 2019 meeting "If this is a cottage industry such as at Lidsey. Would you think it was unfair therefore to portray it as a strategic resource?" and the official response from George Lucan "No answer" Was that when Angus shot themselves in the foot?

“On balance, it is concluded that although there may be a need for onshore oil and gas development to contribute to national energy security, the need is not such that it represents exceptional circumstances, or that it is in the public interest for the proposed major development to be located in the High Weald AONB.”

“The proposal would establish a continued presence of industry which is not appropriate to the area and would not relate well to the landscape or character of its locality.

“It would therefore compromise the landscape qualities of the High Weald area of outstanding natural beauty.”

“There are alternative sources of hydrocarbon supply, both indigenous and imported, to meet the national need, there would be minimal benefit to the local economy from the development, and there is scope for meeting the need in some other way, outside of protected landscapes.”

“It is recommended that planning permission is refused.”

https://westsussex.moderngov.co.uk/documents/g2032/Public%20reports%20pack%2024th-Mar-2020%2010.30%20Planning%20Committee.pdf?T=10

Michael - Yes I agree. I'm still waiting for Highroller to explain how Portland at Brockham will make Angus money....I'll be generous and repost if for him.

Highroller - "...your comment a pleasant surprise may be Brockham production from the portland. it should produce as much as ukog." is misleading on many fronts.

How many decades has Brockham been producing for compared to HH?
What was the average bopd at Brockham?
How many barrels of water was being produced at Brockham?

"Prior to being shut-in in January 2016, the Brockham and Lidseys fields were producing at a net 20bopd to Angus."

http://www.angusenergy.co.uk/wp-content/uploads/2016/12/Angus-Annual-Report-2016.pdf

Brockham was producing 1,000bbls of water per month before it was converted in 2016. Where do you suggest the water can go without being trucked considering Angus cannot use their water injection well...hence why water is being trucked at Lidsey.

https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa

1,000bbls x £49 = £49,000 a month and what is Angus % of Brockham? 55% is it?

I will let you do the maths to work it out over a year, but its a huge amount...over £300,000.

Highroller - your comment "Angus should have made the revised application for Balcombe" is sadly a common frustration for investors due to the company being run by inexperienced people.

George Lucan is running the show, yet has zero oilfield experience.

But even George should be able to organise a Balcombe meeting or delegate it to an ex intern....well you would think that, but then you read the minutes you just shake your head. Is this one of the reasons for the Council not to pay ball with Angus as they have again failed to deliver what they promise?

"Environment Agency (only received the invite on the day of meeting so couldn’t send anyone)" Oh dear .....
"The agenda had only been sent out by Angus on the day of the meeting not 4 working days as per the terms of reference of the CLG" Oh dear......

A very telling question was asked "If this is a cottage industry such as at Lidsey. Would you think it was unfair therefore to portray it as a strategic resource?" and the official response from George Lucan "No answer"

"We have recently raised a £1m drawn down facility and we have used these funds to make abandonment reserves. We have set aside £650k for Brockham and Lidsey."

Embarrassing for Angus that they changed their stance on the duration of the well testing "3 years is an extraordinary length of time. At the last CLG meeting we asked what a well test meant and you said up to 90 days so to come back with an application for 3 years is extraordinary."

And just to show how poorly they are running the company was another telling question

"Transparency of results? We were promised results from previous tests – surface water, ground water, emissions results. These were agreed to be shared. We have been unable to find them anywhere. We were promised tours, site visits. When are these going to happen? Cuadrilla used to send letters around the village explaining what they were doing? Why have the letters stopped?"

https://www.frackfreebalcombe.org.uk/wp-content/uploads/2020/02/CLG-Meeting-Minutes-bpc-notes-clg-5-angus-energy-4-nov-2019.pdf

LancashireLife - you're kidding aren't you? You really expect investors to believe the notes you took from an investor forum rather than the official Angus 6 monthly posted on the internet?

"I recall what was stated at the investor presentation - it certainly wasn’t that high. I would have to go and find my notes."

Michael - who said "that they cant have a placement below 1p"? Thats rubbish....just look at UKOG.

UKOG just did a placement for 637,500,000 shares at 0.2pence a share to raise £1,275,000 pounds.

Seems some posters on here will bend the truth multiple ways

Ocelot - its in the CPR...if you've read it.

LancashireLife - you do realise you've just contradicted yourself lol How on earth can you say its way too high when you haven't even look....sigh.

"Pretty sure that cash burn figure is way too high. I’m not going to spend anytime going through docs to determine true cash burn though"

Michael - I may have missed it, but has LancashireLife said why he has invested in Angus for Brockham? What does he know that the OGA / Annual accounts don't state?

So the more water they produce...the bigger the share value due to higher losses? Genius

Highroller - "...your comment a pleasant surprise may be Brockham production from the portland. it should produce as much as ukog." is misleading on many fronts.

How many decades has Brockham been producing for compared to HH?
What was the average bopd at Brockham?
How many barrels of water was being produced at Brockham?

"Prior to being shut-in in January 2016, the Brockham and Lidseys fields were producing at a net 20bopd to Angus."

http://www.angusenergy.co.uk/wp-content/uploads/2016/12/Angus-Annual-Report-2016.pdf

Brockham was producing 1,000bbls of water per month before it was converted in 2016. Where do you suggest the water can go without being trucked considering Angus cannot use their water injection well...hence why water is being trucked at Lidsey.

https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa

1,000bbls x £49 = £49,000 a month and what is Angus % of Brockham? 55% is it?

I will let you do the maths to work it out over a year, but its a huge amount...over £300,000.