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Before the fireworks start, got in here today at this price.It is a very short time to wait as fare as Oil & Gas shares go. Looked at all of the press and website info this looks nailed on,roll on 1qtr 2024.Oh and to all the nay sayers kiss it.NOT INTERESTED.
The share price has been underperforming largely because of uncertainty around the short-term debt which the Company took on earlier this year to fund a shortfall in our hedge payments in 2022 and cost overruns on the drilling of the B7 sidetrack. We announced last week the conversion of £3 million of that debt into equity and are actively working to refinance the remaining £6 million bridge loan before the end of this year. We expect to update the market on our progress with the refinance soon. We believe the successful refinancing of Angus’s debt, combined with the strong cash generation potential of Saltfleetby Field and the long-term potential for gas storage will see a re-rating in the share price.
The new loan if they get it should steady the market and lift the share price.Just my opinion of course
1.45 as I post
https://www.bbc.co.uk/news/topics/cxwdwz5d8gxt
Total HH-1 Kimmeridge test production now stands at over 41,800 barrels ("bbl") of light, sweet 40° API crude, pushing combined total aggregate Portland and Kimmeridge production to over 71,368 bbl. No discernible Kimmeridge formation water has yet been recovered to surface.
As of end-December over 162,000 bbl of Brent quality crude had been produced and exported from the Kimmeridge and Portland pools..Oil was produced from the Kim at Horse Hill as that statment says, WG818. Balcombe is a different proposition than Horse Hill. Balcombe is the sweet spot as I keep saying.No matter what you keep posting WG818 Balcombe could be HUGE REALLY HUGE.
Learn to read WG818, I said Horse Hill is on the edge of the Kim not in the Sweet Spot like Balcome.No one knows what the Oil Flows will be from Balcome when it as all been cleaned up,but it will be a lot more than it is at Horse Hill to be sure. Lots to look forward to with Balcombe if they do not sell it on.Balcome flowed more than Whynch Farm when they first found Oil and where did Whynch Farm end up,biggest Oil producer in the UK. Take it or leave it Balcombe for me is a game changer for Angus.
WG818, Horse Hill is on the edge of the Kim, Balcombe is smack bang right in the middle, I believe it feeds Horse Hill.I also believe there are millions of barrels right where Balcombe is situated. Horse Hill produced Oil from the Kim but not like they have at Balcombe on free flow.The possibilities are enormous only to be brought alive with this seconed well test.
The well at Balcombe is right in the middle of the Kim in the sweet spot. I think it is the kitchen where Horse Hill get their Kim Oil from.The Oil is 34 API light Oil and the Oil flowed up to 1500 barrels a day on free flow. I would be very dissapointed if it did not flow at 800 barrels a day on free flow,even more using pumps.If Angus sold it on just to get some money in the bank they would be NUTS. i have always thought that Balcombe would be a game changer for Angus even without Saltfleetby.