Member Info for Bubblepoint

Change that, the pipe it shows them pipe wrenching is a lifting sub to remove the spent 7" guns out of the pothole.

If you zoom in you can see the top of the gun has fired perforation hole through the gun body.

Anyway 100% that is the guns done, lets see what they manage for swabbing it out lol

Looks like they have run the guns on Eline, the image is post run, shooting CCL is covered in crap.

Following images show them running down with 2-7/8" tubing using crane.

I suspect they are a little further ahead than the images they are supplying suggest.

Obtaining debt/finance is not an issue against producible reserves, but there is a difference to almost being driven to have to make a deal which is ONLY mostly for consolidation of poor debt, not to raise finance that then goes into notably increasing production or building on another asset !! big difference.

The point being Ocelot, that had Angus managed SLBY from start to today as was initially planned and not screwed up so badly and lied and taken out the various payday carp, given excessively generous terms (8% royalties) etc, then they could have and should have been debt free and in reasonable profit by now.

Meaning they could have been in a situation where they had options to sell all their gas themselves at the full variable, but they are now ball & chained because of their failings & lies, to now need the likes of Trafigura to help them out of the situation.

Ocelot,

ALL Trafigura are likely interested in, is the due diligence on remaining producible commercial volume gas, basically sufficient to cover the duration of the loan, anything Angus value related is of no concern to them I am sure.

Trafigura will control SLBY by default, yes they are a decent outfit for Angus to get what is needed and help in the process of complete consolidation, of total gas sales and to cover the finance needs., but they are like any other company, in it for themselves also, it ALL comes at a price.

Op,

It does not go directly to shell's facilities, it is "refined" at plant at SLBY to "grid grade" and metered out from SLBY, Shell do not need to process the gas as this was the whole point of the plant, which countered the pipeline back pressure issues the field had sending everything they produced to Theddlethorpe, who HAD to process everything before sending to grid etc.

Shell will almost certainly be the frontline variable wholesale taker and be the one paying out that wholesale variable price, the only difference is the middleman, proposed Trafigura, who will pocket the difference as it is almost nailed on to be at a notable "dynamic" difference/discount to the full rolling wholesale price.

Anyway, for me it makes little difference, the reality is almost certain that it will still result in at best nothing more than stabilising SLBY.

I don't see it as being some game changer for retail punters.

Close probably 19's or above. GLA

Fek meeeeeeee, I can hardly control my excitement waiting for 0.019p !!!!!!!! is that IT ????????? lol

Because Angus both have to have an "offtake" of the gas, meaning gas to grid access, which is set by Shell and separate to gas wholesale payment, Angus can select anyone they want to buy their gas, just as with Trafigura, they want to take all the gas. be it hedged or at variable rate.

All will ultimately be through Shell, it doesn't matter if it is Trafigura or anyone else, Shell will pay the "variable" wholesale rate, and that payment "to Angus" at the moment is part under hedge and part direct at variable.

ANY producer can not operate without some form of Offtake, to refinery or grid, as said here it is in 2 parts, pipeline to grid and wholesale gas. The pipeline to grid cost will ALWAYS continue, be it Trafigura paying for that as part of the deal or Angus paying for it monthly directly.

Not sure what your point is but seems pretty pointless to me. heyy hooo,

Not that any of this really matters that much anymore, "in my opinion" (for the sakes of WG etc), reading between the lines of RH's words, they seem to have pretty much concluded that most of anything SLBY was undermined through GL's games, and now it is simply more a damage limitation to partially reverse or at least stabilize the SLBY process for the foreseeable.

In that RH pretty much notes that investor upside is more likely to come from "new projects or transition of other existing like Balcombe" etc etc..

I think the Trafigura deal (if completed with reasonable terms) will likely provide a modest foundation under the SP, maybe with a small opportunist uplift, but nothing like what is hoped by some on here.

Yes OP, they will get above the hedge from shell, plus the "offtake pipeline charge, obviously, but they are not obliged to roll with shell, my point was that primarily "offtake" is not both, it is in 2 parts. being the sale of gas can be through anyone willing to buy it from you.

OP,

Offtake is for gas to grid, basically pipeline.

It is not the same as the purchase of gas produced, which currently is part hedge part variable rate.

For the new deal I am almost certain the "shell" pipeline costs will simply continue either via payment from Trafigura or billed directly to Angus, with Trafigura wanting to purchase ALL gas produced at this Dynamic (discounted hedge) pricing, that we don't know what level it will be.

More like British bullsheite posted, BUY for what reason !!!!!!!!! the well is a pothole, the guns have not even been run yet, the well/formation has no drive mechanism, likely to be water swabbed out with trace oil at best, and that is if they can make communication through the casing and cement, and if there is anything mobile enough to enter the wellbore.

A buy rec without foundation is total nonsense

Looks like they got a small stack of 2-7/8" tubing and small hydraulic tree on site, likely to be run once perforated to enable swabbing within the small bore tubing.

I doubt they would try to convey the guns down to depth on tubing without a small workover rig, so likely run them on Electric line, fire them off, pull them out and then use the crane to make up the tree and run in that little pile of tubing to depth. then run Slickline to swab it for all it is worth.

It's tough GP, none of us know really what is behind the seller/s, they have their "own" agenda/reasons, that we can only best guess, but value is in the eye of the beholder. Personally I most certainly feel this is unjust, extremely overcooked, and I am more than happy to simply wait it out until they are done and I expect a healthy recovery.

Of course, I am not happy, same as everyone else, but then if this game was so easy to make calls hitting the nail right on the head most times then every man and his dog would be at it.

Some great posters on here, regardless of right or wrong, hopefully it wont be tooooo long before they start putting info out for the onshore efforts to begin etc, which is always good to generate interest.

Well I can get a quote EVERY time to sell anything up to 300k shares, same yesterday, so there is clearly someone or someone's happy to soak them up at this level.

Peee boooooo,

Why is it YOU are ONLY able to post, trying to insult, discredit or basically just childish tantrums of nothingness.

Why are you incapable of actually posting informative stuff, you know, the sort your fellow punters can use to benefit their holdings ??? now off you trot back to your little X/twitter/whatsupp, tele gang,,, lolol

Wow, that is the craziest priced placing I have seen in a longgggggg time, not in it, but follow this stock, I cannot see what justification he is using for such a significant discount =..

Peeeee boooo,

I honestly DON'T care if you or anyone else believes what I sold & when, my bank account does my talking for me thanks, and there are folk around who will remember my postings at those times, not that it matters, its BANKED !!

And for the record, do I always call it right, or buy & sell at the right time ?? No, no where near, had a few that were close, but the objective is to do your best to try and ensure more wins than losses, and for me that is where I am.

Now best you get down stairs, get your uniform on and run for the bus !!! that said with such a childish attitude, I suspect you spend most your time in detention !!

Afraidrian,

You know me SOOOO well you don't know the FACTS about Angus pmsllllllllll TICK tockkkkkkkkkkkkk loser !!!

Night night Afraidrian,,, sleep well lol !!!!!!!!!

Ps, YOU know nothing about me or know me !!!