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Both Angus And SEL got a great deal, SEL could make another 20 million or more after selling their shares and Angus got there holding cheap considering.

Why would they want all of those shares if they thought it was not going to flow

If they where de-risking they would have wanted all cash, not cash & shares

NO No no I don't like woods, can it be a forest

I need a woop, woop, woop to, 100% not 51% now that is a WOOP, WOOP, WOOP

I SUPPOSE GL DOES NOT UNDERSTAND ALSO.

George Lucan, CEO, comments: "An opportunity has arisen to consolidate our partners' 49% holding in the Saltfleetby asset for up to £14.052 million which represents a significant discount to the October 2021 P90 valuation of our own 51% interest at £25.4 million. That October 2021 CPR used an average price per therm for gas of under 70 pence over the entire life of the field whilst the Heren NBP forward price for gas is presently trading at a level which is over double that number out to 2025. In that regard we should note that over 70% of overall field revenues are unhedged.

IN THAT REGARD WE SHOULD NOTE THAT OVER 70% OF OVERALL FIELD REVENUES ARE UNHEDGED

Angus also get 100% of the condensate to.

If they miss the target of the 1st of June just remember it will not be 51% they will receive but 100% of the Gas, so missing deadline by 2 weeks is not a problem the money they receive will be just the same as if they did hit the deadline at 51%

GL must have done a lot of work in the background to have achieved this deal well done GL. Appreciated by me and many others PIs I presume.

No doubt about it they will defiantly be able to pay the 12 million loan before Christmas arrives

These greenies will be long gone when the Gas starts flowing and maybe quite a few PIs too me being one of them, difference is they go with fu5kall, we will not, now that is a laugh is it not.

balancedviewer I do not think WG as 35p or even 25p Ruth does not pay minimum wages she is a tight g1t

ygra, what makes you think that completion of hydro test will be the trigger for a rerate?

Sorry to jump in Yanis2005 but after the Hydro test they will flood the pipes with Gas from the Grid then it is all systems go.

the MMs are not taking the pi55

Some further minor additions to site equipment are planned to optimise production over the coming weeks.

Plans for a reperforation of the BRX4-Z well in the Portland reservoir, which would also involve abandonment of the Kimmeridge layer in that well, for which planning permission was recently obtained, are being discussed with our other regulators.

With a successful side track this could be producing a lot more Oil than 50 barrels a day

Good find MasksNewNorm cheers for the post. They are putting their money where they expect a bigger return I think that is what we try to do also that is why I am in Angus

Are just looking after there own investors maybe they are just filling a gap in their portfolio that has occurred who knows. But now they are out it will not stop the Oil at Brockham or the Gas at Saltfleetby from flowing, unless they stuff the pipes with twenty pound notes lol.

That is about $1.7 million a year from Brockham not to be sniffed at.

Hydro means water, so to put it in prospective the wet testing as been taking place for the last two days. Check out the meaning of Hydro. Not be long now before they run the Gas in from the Grid then send it all back again with our own Gas following.

You see those sells and think why are people selling so near to gas, thing is some of those sells will be stop losses and the PIs who held them will not even know they have been sold if they are at work and will be very angry and will probably have to buy back at a higher price.