Member Info for B2HS2L

Assuming the viewpoint of a prospective ANGS MD:

1 Will a new MD be able to choose his/her staff, or is the Production manager post a holy cow, because the present incumbent has a large share holding?
2 Lucan wanted to be clearer with investors, but his efforts have not come to fruition as yet. Will a new MD be forced to apply the radio silence?
3 Tidswells Tweets have dried up and only discuss the subjects he deems fit to discuss. Hopefully any new MD will be unhappy to continue this situation.
3 There must be a problem with publicising Tidswell's share-gate operations, and the company investigations Lucan has not made public, so new MD will inherit this issue.
Lucan may well be stalling with this, waiting for new appointee to deal with the subject.

Operationally:
4 Brockham has to fix one (>1?) water ingress problem, and awaits equipment to do this. Finance may become a problem the longer this rework takes to complete.
5 Caudrilla looking for effort from Angus to proceed Balcombe to production, so Angus must allocate resources and finance between Balcombe and Brockham, whilst trying to improve Lidsey output. New MD will not necessarily be able to do what they want when they want.
6 Plans and timescales to proceed at Brockham have not been made public, - which smacks of the company has something to hide?
7 Lenigas might put up one of his men for the vacancy, increasing the ties with ANGS, and gaining access to info.

I've left out finances, - I suspect we PI's don't have a good handle on this, so I'm looking for an update.
However the financial situation won't be a bed of roses for any new MD.

So the price sensitive info we await is:
1 That Lidsey pumps are operational 24/7, and the new BOPD value.
2 YA loan repayment update.

.... or in Tidswell's case, he transfers his shares for no consideration and hears they are being sold.
The seller keeps selling despite his protests.
Has he got his money back?
Ha Ha, Jim lad, - "its Jonathan's turn in the barrel" - laughs Long John Silver..

Scally - Correct, 120K salary for non board member Tidswell though. (Alan 6th Feb). So board members possibly a lot more.

"With Lidsey going 24/7 we should get around £350,000 p/a pay a couple of directors LOL"
We will need this to pay for a new MD, so just one director me thinks..

Scally, - The 19.02.2019 RNS states that we have permission to pump 24hrs (except sundays etc I think) at Lidsey. It doesn't say that we have yet increased our pumping hours. Income from Lidsey will increase when we do, and I expect an RNS to state what the new expected bopd to be, because this information is the shareholders by right.

The same goes for any changes in loans & repayments, so an RNS tonight / Monday surely..

Well done Scally :)

Nice to hear from someone with a bit of good news these days.
As ever, patience is key.

Masterbaker,
As one of those email pests, I'll reserve the sending of an email congratulating him on his success in 'sidelining' YA until his actions start improving the sp 'big time'.

I still don't have an answer to my question concerning number of water influx issues at Brockham, despite the company saying shareholder communications would be improved.

I would not want to see Lucan peddling furiously to fix the parlous state of ANGS finances, when the money will be spent on failed attempts to fix water influx issues.

I say we spend the extra and subcontract the repair of this problem at Brockham, largely because of Tidswells past performance concerning paperwork, drilling the right well, relations with local and O&G authorities, - I think you get my drift.

Baits - Tidswell's return as MD under any circumstances is a really troubling scenario.

Thanks Alan for the links and expanding on individual capabilities.

Alan,

Is isolating the water zone (or zones according to Doriemus) something within Tidswells capabilities?

As operations manager he should be capable, but he's a clown.

My patience won't stand waiting months for this procedure to hear of it failing through incompetence.

I can't see ANGS subcontracting this, but I wish they would.

Sent this to ANGS website 'contact us' tab at 6am today:

Dear Sir / Madam,

A recent Doriemus RNS states that there is more than one water zone identified at Brockham.
In the spirit of better shareholder communications you outlined in George Lucan's first RNS last month, can you please state how many water zones have been identified.

I would request you make this information available in the next RNS.
Many thanks in advance.

No response today, so I assume I won't be getting one.
++++++
Lucan has no twitter account.
Tidswell shares what he wants to share, but has not answered questions via twitter.- (Despite being officially sanctioned by ANGS).

RNS concerning outcome of Tidswell captain America scandal not available.

Underwhelming isn't it.

Many thanks for drawing attention to this Doriemus RNS Sam.

Two quotes stand out.

1 "The Operator is now preparing an engineering programme to isolate this water zone which will, subject to agreement from all regulators and partners, include the return of a workover rig."

2 "There is obviously more work that needs to be undertaken with this well testing programme to isolate the water zones and we look forward to further proposals from Angus in respect of tackling the water influx, which they report as having inhibited oil flow"

So is there one or more than one water zone?

More than one water zone implies a higher risk of not fixing the water influx first time.

I have emailed ANGS requesting the number of water zones identified.

Will advise any response.

Slugging 3000 bopd with a well hindered by presence of brine.
Makes you think what it is truly capable of without the brine.

loot:

From RNS dated 10/1/19:
Quote concerning Balcombe begins
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.
Quote ends.

Rather than flaring gas, I thought Brockham utilised gas to wire generator(s) to burn waste gas.
If they were unavailable, the flare stack would deal with waste gas.
Have not heard if the gas to wire generators worked.

Allan wants answers to questions we all want answers to.
Tidswell only wants to tweet the information he wants to impart.
If the questions were asked nicely or not, only Tidswell can answer, and only if he wants to.

Now his Twitter feed has ANGS sanction, he must not say some things he might have wanted to say.
(For instance expanding on why he has not been in charge since July or anything to do with gardening leave).

We will only be getting what Tidswell wants to share via Twitter, and if that is not a lot, then we won't be considerably better off than we were under Vonk.

What has Lucan be doing? - why isn't he on twitter?
Why don't we know if we can expect Tidswell to tweet for Lucan?

I don't think we are much better off in terms of communications, - yet.

I won't be the first on this board to ask myself why PV sold shares so cheap.
Lets hope its not because he knows the sp will drop much further.
He's probably invested in UKOG now..

I think many people wanted the contingency in place as it appears to be industry standard practice.
The fact they were not available is probably down to lack of finance, and a default decision to 'wing it'.

itsallaboutme, - You might be right about JTP taking action, however -

JTP new that he needed 5% shareholding to force a General meeting.
He planned to unseat Vonk and put George Lucan and Adam Habib on the board.
JTP found out that there were plans for a loan that might or would increase the number of shares in issue,
so realised he had to issue the requisition ASAP, because he had 5.69% (and soon would hold less).

I might be wrong, but Tidswell was in danger of not having sufficient shares to force the meeting.

Tidswell doesn't have my vote to make a successful attempt to block off the water at Brockham.
What would the situation look like if he fails:
No cash left to spend on rework.
No oil to surface, - though oil is definitely there.
I think it best to subcontract the lot to a trust worthy company, - trust is in short supply, and the reason I have reduced my holding.