Member Info for Bubblepoint

Ocelot,

The market has given the Market cap a boost of £30m from the pre Saltsfleetby MC of around £6M, the market votes with its feet and at this time they clearly don't agree that the SP is low, as it isn't lifting at all.

As said before, I don't believe it is because of the asset and its producible reserves, it is decent, and really should be thrusting Angus to much higher, but the messy grabby way Angus has been acquiring debt is likely seen as a weakness, and the market doesn't like weakness. along with a lack of detail on the excess revenue dispersal, which is the king pin of this whole project.

As said, they need to demonstrate that they can stabilize the situation and quickly, and then demonstrate they can maintain that an more, thus building confidence and trust AGAIN !!!

As for gas prices, yes they should be higher going into the demand seasons, but it isn't something you can take to the bank as it is speculative and not fact until that time.

Angus retconned on £13m to get SLBY done to where it is today in Sept 2020, add the additional cost of acquiring the other 50% of the field and the over run on the side track, and give em the benefit of the doubt and call it £25m in total.

Since Sept 2020 they have raised around £14m through issue of 3.0 billion shares, + the £12m debt facility, + the earlier £3m bridging loan + the new 6m bridging loan + around £9m in excess revenue to date, means Angus has had around £44m through their hands so far.

Today the share price is just under the original price Angus was at when all this SLBY started, sitting at 0.9p with just over 600m in issue.

The £20 global refinancing only serves to consolidate the high cost dept etc, there will be no change out of it once in place, to cover the £9m bridges, the £7.5m of the debt facility and the £3.5m for the additional owed on the missed hedge, leaves lose change out of the £20m GF.

It's a royal mess really, great asset with what was a reasonably straight forward process to get it back into production, as said previously, the company has simply undermined the near to mid term value of SLBY through really poor management.

It should never have been this difficult, but they managed it, and it is reflected in the lack of confidence and trust from the big guns out there.

Angus is likely going to have to go through a very well structured healing process to regain some of that trust & confidence going forward.

As I said BV, you "obviously" have all the answers in your head, and you have so wisely maintained your following of the BOD, and they have clearly lead you to your good wealth and fortune, and the well oiled Angus machine has managed to more than quadruple shares in issue over 18 months, and along with ALL that was raised from them, they are adding a whole pile of debt on top.

Tell you what, I will stick to my way of investing/trading based on using what industry knowledge I have to apply to those companies and what they are doing and maybe NOT saying, and you stick to yours lol, I am sure they are doing you well so far !!!

I bet you follow David Lenigas, and Stephen Sanderson too, right up your street them two lol....

A-D,

They can likely keep producing gas for long into the future, with depleting additions such as booster compressor and maybe a work over, Personally I would think they are far best positioned to just keep it producing and generating revenue, all the hard work is done for that.

I would be amazed if any storage solution would reap in anything like the current production revenue stream. any future plan for the reservoir, be it gas, Co2 or whatever is only an end game repurposing of the already mapped out field and its plant/wells. It has a value for that time but I wouldn't be wishing it anytime soon.

I don't doubt they can produce at least close to 80% of what the CPR proposed, far better to follow that through I would think.

That said, they may well also be able to repurpose the compressors etc when that time comes, as anything being sent back to the reservoir will require compressors to send it there, so some aspects are already part available for that time already.

Its a reasoned opinion OP, and likely holds some merit, but in reality I don't think it is right that investors should be left half guessing what is happening to the revenues, production revenue being theee primary objective of all this work at SLBY.

Thanks for your well reasoned response OP.

BV,

I wont ask on the Q & A, simply because I have posted at least 3 times to them via the Q & A section, AND emailed them, yet they don't answer my questions or reply, hmmmmmm I wonder why,,,

AND I am sure if they did respond, it would be in such an obscure way, it would hold little to no relevance to the reality.

As for the 30th RNS, if you understand it so well, then no need for others to comment is there, it is so, so transparent, it answers all your questions I am sure...

If you spent a little more time actually doing some digging yourself, instead of just bickering with anyone who posts something you don't like then you might fair a little better, both financially and socially, all you do is argue every point with nonsense, maybe they should employ you to write their answers and RNS's lol !!!!!

And HITS is not necessarily doom merchanting, OK there is a lot repeated, but in general he is prompting the numbers as they stand, and some of the numbers really are not great reading, but it is something beyond Pi control, they have begged, borrowed and grappled finance from any avenue they could, and some of that is dire, along with £9m of revenues to date that I cannot believe have only serviced interest, it equates to close on a third of the total cost of SLBY to date, o you know what it has been used for ??? no one else seems to either.

No I don't hold any stock, but as with many stocks it is one I have followed since they started out, the whole Weald is something I have spent over 10 years delving into.

It is not a prerequisite that I have to hold stock to discuss it, so I will post whenever I want to thank you.

You obviously see what I posted as a negative, which I can fully understand, as that is the typical knee jerk response I would expect from you, when in actual fact, it was a positive, OR would you rather Angus announced storage solutions sooner than later, which would only serve to raise alarm bells, as that means they are nearer to the end game of production than anyone should want to see.

In reality they "should" keep producing for at least another 5-7 years without major concern, other than a workover on A4 and possibly a Booster compressor as reservoir pressure depletes. On paper they should be running for nearer 10 years, but I doubt that it would be at commercial levels along with there being too much liquid production to cope with and that also hinders dry gas flow too.

BV,

I read EVERY rns, not sure what your point is, you want to hang on to every word they tell you, good for you, they have served you well so far, look at the market cap/SP, that is the reality.

As for new pipe, what's that got to do with anything ?? it doesn't take months to have such pipework drawn up and manufactured, and it won't make a jot of difference to current flow either.

Might be time for you to join the other kerlowns in the green room me thinks...

It is just my take on it Malvolio, personally I wouldn't want to be hearing or wanting to see storage pushed forward, forward = stop production and reverse the reservoir usage, at this time Angus needs to produce for the foreseeable, pay off these various debts, PF etc, and hopefully build up some significant revenues in the pot.

%If anything. I would much rather they did something like take a further 25% in Balcombe and try and make the best of that in the short term.

Sometimes one has to be careful of what one wishes for, as there may be underlying consequences.

I am not sure why anyone would want the storage potential to come to the front right now.

Using SLBY as a storage facility actually means it also has to cease from generating revenue from the remaining reserves in the reservoir.

You cannot use SLBY as storage until you have drained the reservoir down to a level that is more or less considered non viable.

The risk you take is that when Wingas was looking at this, they were utilizing Theddlethorpe to send all production from SLBY to them for refining, there were almost no infield processing facilities. This meant that the maximum depletion of the reservoir was limited to the flow line pressure, linked directly to reservoir pressure.

So the field threshold for storage at that time meant you actually have to leave much of what was left in the reservoir when it was last shut in. This means that when you convert to storage, the reservoir is sitting with baseline gas and threshold pressure that is above dew point and acts as a buffer to the storage gas you want to pump in.

You can then fairly reliably recover the gas you pumped down as storage without compromising the returning gas, that would always be above dew point.

Angus has changed the dynamics, by installing infield processing and compressors, this allows Angus to recover far more from the reservoir, but also takes the reservoir much further below that critical threshold point.

It is a bit like a flat tyre at that stage, where you would need to pump in a modest volume of air into the tyre to where it starts to "inflate" and has enough pressure to even start lifting the weight it is carrying.

Angus is doing the right thing at this time to drain the maximum from the reservoir, to a new "depleted" threshold, but it is also likely it will compromise it's acceptability for storage, unless someone is willing to pump a LOT of initial gas back in to get it to that critical baseline threshold.

K3,

I was asked my view so I posted that, nothing more, as said, the asset is good, but the company is undermining it, as is the way of many aim outfits.

As for revenue, various debts, monies raised to cover certain aspects to then be told it isn't covered, other issues etc, the fact there have been probably 100-150 posts on debt.finance, hedge, PF, revenue and lack of certain information just in this last week only shows how well they have simply overwhelmed the status to the point it is not possible to truly decipher.

Roadhouse,

I along with others believe in the "producible asset" and it's £300m recoverable's, it was a no brainer, it was also acceptable to consider say £25m + to buy slby, do the necessary processing and compressors and what should have been a modest cost side track.

Unfortunately, for me anyway, they have undermined retail investors with 4 x share dilution and payday loans here & there, and some additional £20m consolidation loan. Add to that there is almost no real note to where £9m of excess production revenue has gone to so far, along with raised cash that was supposed to clear that missed hedge timeline.

As far as I am concerned this is ruined for the foreseeable. What should have been a fairly simple 18 month revenue generating payback is now likely to roll on for at least another year or more.

Also I fully expect they will need to work over or even side track A4 well in the next year or so, as the condensate banking at reservoir continues to snowball build, and will eventually result in stalling flow from A4, for which they will likely want to raise AGAIN...

I struggle to see how they will provide a dividend of any note for at least 18 months. Too much has gone unanswered from them and they seem to carry on without feeling any need to justify where so many funds have gone.

In one line, I have always liked the asset, I was fully onboard with their plan, but they have ruined themselves and any near term real upside for the retail side.

Ps, I don't really care if folk don't like the post, that is my take on it as it is today.

WOW a lot of green roomers on my screen, the mvp1t show must be out in force over the weekend.

Maybe they feel a little hard done too, meaning their donations to the court battle are a flop !! equivalent to throwing stink bombs instead of grenades lololol WG still spouting his white noise !!!

OP,

WG can & does makes "some" valid points, BUT he is so repetitive and totally incapable of providing some balance that I don't need much of his repetitive nonsense clogging my screen. He can stay with the stop oil mob and dance around in the green room, and he can stay there for good. He simply borders on forum pollution to me.

Robday,

In fairness, I do NOT hold any Angus stock, but I am still following the processes & occasionally posting, possibly looking for the opportunity, IF it arises, I don't subscribe to the no holder no posting thing, most folk will look and post on forums before buying, and some will just use it for their endless means !!

That said, I only look in couple times a day while not in, just following posts and possible reasonings.

Hits,

Amazed Khan has lasted this long, but I too would think this is a death knoll for him, sooner the better and it doesn't affect me at all, but I can fully appreciate how it impacts the working class that cannot afford to adjust to these mad hatter policies

Robday,

I had to adjust to letting them into the exclusive green room, WG takes pride of place and is also responsible for cleaning the bogs, mainly because he spouts the most kerappp, it now has 6 members.

Never thought I would need to use such, but it is a very odd world we live in today. BUT my screen is a much more environmentally friendly zone with lots of green boxes daily, oddly usually immediately after i post something lolololololol

Court protesters hit the news headlines for Balcombe, though they really need to be more factual, as NO drilling is going to be done at this time, ONLY clean up and long duration testing.

I hope the court throws their poorly informed nonsense out and it gets tested to death..

Well put post Jimmy, right on the money with that.

Personally VERY happy with my holding here and VERY much looking forward to what is to come !!