Member Info for Alan2017

Tut Tut trolls - at least quote the correct facts even if it paints Angus as muppets. What should have been tested before 2nd October 2018 RNS was finally disclosed to us on 10th January 2019 which is criminal and intern stifled any SP rise....deliberate?)

I posted this on 10th January 2019

Right lets take a look at the positive part of the RNS (link attached at the bottom).

Now that is tremendous news that the water encountered is actually just the completion fluid with high salinity content (after all its just brine mixed with chemicals). But how on earth did they not know this at the time? Its the first thing you test for (salinity content) to determine if its formation water or completion fluid. The original RNS was overshadowed by the mention of water and that muted the great flow rates.

The RNS talks about the observed flow rates from the 2 flow periods (853/1,587bopd), but I think they missed an opportunity to remind everyone of the fact it was flowing at over 3,000bopd but had to be cut back because of slugging due to the small diameter of the production tubing. Increase the size of the production tubing and it’s a company maker. So I can understand the placing as Angus have to pay for the EWT as part of the deal with Cuadrilla.

The bigger picture is looking good for Angus

“The Balcombe Field Discovery is considered to be in the ‘sweet spot’ of England’s Weald Basin given the 568 metre thickness and highest maturity of the Kimmeridge Layers.

On 2 October 2018 the Company announced the results of the completed horizontal well test of the Balcombe-2Z’s Kimmeridge Layer as having naturally flowed 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.
Post-test analysis of the recovered water demonstrated levels of salinity significantly higher than any regional trend, indicating a strong probability that injected brine rather than formation water was being produced from the site’s Micrite Layers. Given the mandated length of the short testing sequence, the Company was not able to remove what it now believes is a limited amount of unrecovered brine from previous activities at the site.
Therefore, the Company believes that continuous oil with a low watercut can be produced from the Balcombe-2Z well under normal pumped production conditions and it now plans to demonstrate commercial oil production. The Facility will provide the funding to support near-term planning and testing as well as a successive Field Development Plan (FDP) submission.”

http://www.angusenergy.co.uk/wp-content/uploads/2019/01/RNS-Angus-Energy-10.01.19.pdf

I should also add after Lidsey and Brockham I am highly wary of anything Angus reports.

Sorry if this interfere with making 10-20% quick profit.

Anyway, back to reality.

Saltfleetby - earliest connection August 2020 (from Lucan), in reality timelines always go to the right, hence more delays.

YinYang - Tidswell put very little money in and then was awarded a shed load of shares for free., which he is still being awarded even though he tried to loan out his Angus Shares, drilled from the wrong well, managed to alienate every Authority, couldn't order spare parts for critical items, ousted Vonk which made Angus look like Clowns and destroyed the SP on 4 separate occasions......And you want to follow him?!?!

And your statement "....shorted not by PIs but by large upset ex/employees I believe." is half right.....but you're looking in the wrong place.

Still around....I think its pointless to post repetitive messages when my last 2 posts said it all on 30th June 2019....nothing has changed since.....except a further drop in SP.

"For folk saying the price will rise.....I think you are being highly optimistic or trying to make a quick 10-20% profit at other peoples expenses.

Since the Lidsey RNS Nov 2017 its been an absolute cluster...even with how the water / completion fluid was reported at Balcombe. Sadly Angus have a red flag now and before folk try and say otherwise...the SP speaks volumes.

To walk away is rather damming for Angus and for the Weald. BB had 2 bites of the cherry and came up short.

I would only class Balcombe as a risky punt with the SP below 1p."

gkb47 - I can't say without seeing the testing programme and subsequent results. Any misfortune whilst drilling / testing the well should have been rectified by drilling a sidetrack. To walk away is rather damming for Angus and for the Weald. BB had 2 bites of the cherry and came up short.

What I have said and will repeat is that you do not come to a decision like this overnight. Angus logged the well while drilling it, logged it afterwards. Logged it again during perforations. Logged it further in February. Logged it a further 2 times........the initial results will have told you it is a producer or a duster. To drag it out and to give tweets / interviews saying to the effect of its looking good is terrible.

Lucan for all his praise from some investors on here hasn't even given the results to the partners before releasing the quite unexpected news. I do find that to be quite shocking. Lucan was installed by Tidswell whom I have never liked since the Lidsey debacle. The same team will now work on Balcombe. I would be far happier having Cuadrilla being the Operator...after all they drilled the well.

I would only class Balcombe as a risky punt with the SP below 1p.

Sadly the most recent events have shown that regardless of who is in charge (Vonk / Lucan) the way Angus goes about its business is shocking to say the least. Watch how Lucan says in his LSE interview (sadly I can't open it) how he says words to the effect of... its looking good for Brockham.

Since the Lidsey RNS Nov 2017 its been an absolute cluster...even with how the water / completion fluid was reported at Balcombe. Sadly Angus have a red flag now and before folk try and say otherwise...the SP speaks volumes.

For folk saying the price will rise.....I think you are being highly optimistic or trying to make a quick 10-20% profit at other peoples expenses.

And Angus won't have anything to do with Brockham if they sell their 65% stake.

"....the Company announces that it has entered into preliminary discussions with a third party regarding a sale of the Company’s own 65% interest in the Licence"

RealAnalyst - “No need to be too funereal or gloomy lol.” Why not start with your own posts first

B2H - I doubt the lower limestone has been plugged due to previous experience of where the water would most likely come from, as well as Angus crude drawing showing the limestone above. One of my questions I will ask Angus is what is the Bridge plug setting depth as this should have been released before. I think the worry over the acid by some PIs is over hyped in all honesty.

Pboo - I amswered the question on your twitter post....don’t you check? Looong sigh I think my excellent track record speaks volumes and telling you guys 5 days before Angus that there was major issues and then telling you 2 months before how it would be fixed....sigh. You have no knowledge of oilfield planning or liasing with local authorities, so please don’t give the wrong impresssion. I sense animosity in your last post which again is very disappointing. Is this because posters are questioning your motives?

Not sure why folk even bother listening to a failed curtain seller with zero oilfield experience. You have to plan the well test right down to the autocad site dimensions and every piece of kit that will be used. This means you liase with OGA and EA first and only then go to WSCC. Lucan has said Angus are going back and I was surprised he said Sept as it places unnecessary pressure on you. I said back in February when the failed curtain seller immediate poo pooed the notion of testing Balcombe in 2019 (looooooong sigh) that I expected the test to take place in Q4 (Oct-Nov-Dec). I don’t see any reason to change that opinion. WSCC are far more civilised to work with. As for Brockham the latest RNS said they were still carrying out preparatory work on 24th June. Sadly there are folk on here trying to play games and influence the SP for their own personal gain. It’s very noticeable when people are either panicking and then say invest in Angus and other Weald players...how very odd. I would like to see an update this week to say what the timeline is.

And regarding Balcombe EWT expectations....I always said last quarter of 2019 (Oct-Nov-Dec) to deal with paperwork etc. Far better to have a pragmatic date in your head and if it happens before then its a bonus. I'm happy to know a few extra weeks to ensure everything has been submitted correctly and passed first time.

Just look at how folk were getting worked up over the 17th June date.....sigh.

E-Al - view hasn't changed since I wrote this on 28th May. I suggest folk read the document at the bottom as what Angus is intending to do generally follows what is laid out in this document. I'd much prefer they focused on Brockham and Balcombe, but it is what it is now as the Americans would say.

Having the exiting folk still part of the project will help when it comes to historical knowledge...hopefully they will know Tidswell gets confused with his Left and Right and put up big signs for each well lol

"Well I'm in the please don't acquire a gas field camp...just as I wasn't happy with the Holmswood buy in. But if you're an Angus investor then it looks like we will be the proud parents of a Northern gas field soon, so we should look more into it.

Well Wingas had big plans and the document (link posted at the bottom) detailed the grand plans in 2014 some of which were carried out. What I have read from the Angus presentation seems to follow the original Wingas plan except for circumnavigating the soon to be decommissioned gas terminal. The plan to install compression and dew-point control equipment again replicates the Wingas plan.

The site has permission for 11 wells as well as the converted water injector.

Now the water injector well caught my eye. For some unknown reason Angus won't carry out a simple slickline logging run (casing bond log CBL) on the Brockham wells and install a bridge plug to carry out a casing integrity test to satisfy EA requirements regarding the Brockham water injector well.

Lidsey produced water has historically been injected back into the Brockham field and due to not being able to inject water has resulted in lost production. 50bopd with $25 capex (why its this figure I don't know as Dave Bramhill said costs were $8 for UJO), but I've used those figures which equates to £2,000 a day or circa £750,000 a year just from Lidsey.

Now are Angus acquiring Saltfleetby for £1 and then using the water injector well to remove all their headaches. The biggest cost is the disposal itself, so if its your own well...then it won't be $25 costs. Who knows, maybe they will charge other companies to dispose of their water?

So perhaps the site has a couple of advantages and not just the gas?

The document has restoration information as well for whoever still owns the site at the end of its life."

https://lincolnshire.moderngov.co.uk/documents/s5306/E0654.13%20Saltfleetby%20GSF.pdf

Healthyreturns - what you wrote is incorrect "If the schedule shows Balcombe being drilled in Aug/Sep..."

Balcombe is already drilled with slotted liner ....just needs to be flow tested.

Yanis - you don’t have time to look back at my historical posts yet you’ve flooded the board with multiple posts going over the same thing? Lol Well I’ll give you a heads up it must have been after the RNS dated week beginning 17th June. And the diagram isn’t to scale..,,otherwise the rubber Packer is 40ft, which it isn’t...it’s 24inches. It says Scaled as in not full size...not to scale.

Yanis - your numbers are purely guesswork going off a drawing. I would wait until Angus give us the depths (which I had expected them to have already done). I suggest you read my historical posts, I’ve already stated what I think may happen subject to interpretation of the RNS.

Bigren4 - I just gave you an example of profit that you requested ? Sigh And how am I the mouthpiece of Angus? Lol I suggest you read my posting history as I suggest folk read yours...visible posting trend.

Bugten4 - 2.9p up to 3.8p...how much profit does that give? Sigh

Yanis - how many times can you post the same post ...over and over again? You’re just repeating yourself and I felt nd reading this board pointless. I thought RealAnalyst was bad enough lol They have given us a start date (as in some time that week). So why dont you just wait to see what if anything happens. Unless you’ve over extended yourself financially which is never a wise thing to do.

I notice some posters are positive until they cash in their profit and then are negative trying to get the price down. Strange how they were the most vocal posters a month or so ago.

Bigten4 - we haven’t entered the week of 17th June, so your multiple posts are very presumptuous to say the least..... Do you tweet EasyJet several weeks before complaining about the flight being delayed?!?! lol