Member Info for Bubblepoint

Haaa Haaa just looked not logged in 😂

Well I will happily say to the one that has had a nerve touched, that I have not traded or hold a single share, my last trade well over one month ago.

I cannot lose when not invested, as stated in the past, the worst thing to do is go back for more, it usually results in a loss, so I dont, unless I see reason, and at the moment there isn't.

As also said, say what you want about me, it doesn't affect my wealth cheers.

Never thought I. Would see you lose your plot 😂 but looks like you don't like reading the truth about yourself.

Laterzzzzz in another life maybe

I have no issue absorbing others views, hits etc, but Wg takes some weird satisfaction in throwing out almost daily repetitive noise with a strong negative undertone.

Ohters can apply their views with some balance, which is fine but Wg has the balance of a front wheel that has been heavily curbed a 1000 times.

Anyway not an issue anymore, he is in pole position in the green box.

Hits,

It's a little low level for you to try and make more out of the end of Push 2, to the newer BP, in some lame support towards Wg.

There are no illusions for most on this board the Wg is nothing more than a disruptor who simply trys to big up the debt but never references the value of the asset, because that suits his lame agenda.

I could no longer really give a flying fluk what some have to say about me, you can play games all you want but it doesn't dissolve the 30+ years of good industry knowledge I have, and use here.

I will continue to dump erdiots into the green bin as I should have done ad P2, they are both worth the time of say on my screen.

It is also well known that there are concerted games brought o er from the other site, it's what seems to entertain some low level types over there.

Enjoy, but as said it won't change the asset value.

For those noting about the Cindy, it is not naturally borne within the reservoir, it and some water are byproducts of the reducing field pressure over it's life, and it being increasingly below dew point, which induces condensate and a small amount of water to drop out from the dry gas.

It will continue to increase throughout the depleting life of the reservoir.

Milender,

I was Push 2 until I requested lse to delete my history and account, I have this monika now.

As for WG, total waste of my time & life, he is one step from being a just stop oil.... OK, I understand some peoples hatred of Angus, I am not a fan of the team, but I can respect what they managed here, though not without drama and additional cost.

Also ask me if I truly trust them with how & what they do with the revenues and associated front line projects etc, no not that much, but I am willing to follow this through to see what they come up with and the next figures

Wg,

Last post to you as your agenda is far more transparent than Angus themselves.

Honestly you can pump the numbers out all you want but Angus managed all this for 10% of the asset and reserves value.

It is a good job you are not in business as I am certain Angus would look genius compared to anything you would be capable of.

Welcome to the bubble Point Green box society, it is the least you deserve

As said Wg, you can post your repetitive noise all you want, but I would rather have Angus with this revenue, asset and respective debt to the Angus pre slby anyway, so bark all you want, the debt has been applied, the asset moved from stranded to valuable with huge monthly revenue.

So it will prove its value at some point when the market is ready, thanks for your concerns but they are yours not many of ours !!!

WG,

You are obviously welcome to keep posting your shallow views and mud slinging as much as you like, that is your MO, as it has always been.

I will stick to reality, which doesn't require your twisted input for thanks.

That said, I maintain I am not a fan of Angus for some of their actions and ways, and likely that is also weighting on this stock.

Ps, WG it is very easy to jump on the band wagon when the SP/MC is suppressed, but as usual you will scurry away when it turns and simply wait for the down days to come back with some of your carp.

My position is absolutely nothing to do with you or anyone else, I might hold 10 million, I might not be holding at all.

My figures are simple, I used your s hit list in your post as a generalization, which is about right, unless you are simply trying to make it look as bad as possible, not something you are unacquainted to.

It doesn't matter what you do with the figures WG, simply it has cost them 10% of the asset value to get it to where it is, and that in industry measure is actually exceptional for a minnow like Angus to achieve, especially the fact it isn't just some pump field producing say 50-100 bbl/d oil, they did exceptionally well to get the production & processing facility in, up and working.

Ask me if I like Angus ? no not really, I still find them a fair bit opaque for my liking, but I won't discredit them for most of what they have done.

WG,

As you like to repeat your numbers lets consider the asset value, which you always omit.

So if we round the total cost of SLBY to date at around £30 million, which includes:

The purchase of 100% of the asset,

The running of a field to grid pipe line,

The building of a complete field production and processing plant for grid grade gas and condensate storage,

The drilling of the Side track B7T, not just to increase the cry gas production but also to enable fuller drainage of the remaining reserves.

All the associated legal , design & development framework and all associated planning permissions etc.

The asset before Angus was a stranded asset with limited value unless a solution to the loss of Theddlethorpe could be developed, they did that, and are now entitled to show the reserves as un-stranded with that representitive value of well over £300 million of recoverables.

The total cost was around 10% of the recoverable reserves, not shabby at all, with anything from £2 to 3 million a month revenue, again not shabby numbers.

Now if you were to put a for sale sign up with the above noted then it is reasonable to expect anything from 1/3 to 1/2 of the recoverables value, so in reality a saleable producing, significant revenue generating asset of at least £100m and that is just to flog it today.

So imagine if you could get all that for just £30 million as it is today and you needed to raise funds from various avenues, some not that great, but it gets your hands on it, it would be a total no brainer, something you would have queues building to try and get it at that price, why ?? you can buy an asset like that for the original £30 million and generate enough revenue to pay that off in say 12-18 months and enjoy a further potential 5 possibly up to 10 years of varied levels of production....

Angus has done exceptionally well to do this and get it to where it is today, though it looks like their history is still haunting them to some degree, and much clearer financial transparency would help appease the markets Iam sure.

BV,

You don't know what I hold or don't hold or trade, and no one ever will after last time, so don't assume anything on my behalf, because as usual you'd be wrong !!!

As for bounce, the last time was due to drilling issues and would always bounce hard on recovery of that situation, this time there isn't a drilling driver to give such a trader hungry bounce unless Angus pull some magic rabbit out the bag.

Try and enjoy your day, I will !!!

BV,

If this is your idea of "enjoying the ride" then were all doomed lol... under a penny and it is supposed to be something to enjoy !!! pmsl

BV.

Yes I am aware of WG, though I am OK with reasoned discussion, he puts up something and if there is reasonable counter to that then great, I am not against such posts, sometimes they may highlight something of value/importance to take note of.

Hits also is putting up some valid discussion, it isn't a reason to throw mud at them every time just because you don't like what you read.

Better you put up your own response with something valid to counter than to just keep slating every time surely !!

WG,

It's all relative, increase in condensate = increase in induced water too, you can't have one without the other.

And both induced condensate & water are likely to continue to increase for the remaining life of the field, as the pressure naturally declines further below dew point.

They can eventually significantly reduce that in the future by doing the work over on A4 and running a new production tubing much further into the well, basically so the production tubing runs beyond the low point of the well profile and continues until it is in the higher horizontal part of the leg, which would give it the same advantage as B7T, that is until the drop out induced condensate and water levels slowly increase in the reservoir and start to renter the production string.

It is inevitable during this phase of the field life, they have a solution for surface with the booster compressor to compensate for below threshold flowing pressure, but only well design can really help for downhole/reservoir condition.

WG,

The RNS notes Condensate (Liquids) clearly, and with additional condensate you will also have a relative increase of water, and induced product of the dew point and the creation of condensate in the near wellbore and wellbore being drawn to surface with the dry gas.

Again though it is A4 specific as B2 & B7T both have wellbore design that limits condensate/liquids being brought to surface, resulting in them dropping out and likely adding to the condensates/liquids that A4 collects from the deeper scoop profile of that well design.

BV,

You are totally incorrect, the compressors actually have an optimum performance level which is thereabouts 70% of it's max capacity, the Cat/Drive engine actually runs at a constant, the load & torque exchange is electronically controlled relative to flow.

Well that puts to bed the condensate flow being higher than the previous 120bbl/d, so it looks like A4 remains flowing, though I still struggle to see why they are not able to produce 7+mmscf/d through one compressor, which is easily doable.

And the result of that Mwshep, is that it gets traded out at lower highs and bought back at the lower lows, which then needs something dramatic to overwhelm those trading ranges, it is going to take something very special to achieve that with the current sentiment.

BV,

If all this financing etc has such a positive side to it then as a company you would be VERY quick to appease the market in highlighting such side effects, but they don't, and the hedge issue is clearly NOT as per GL was stating after that placing to cover those issues.

The market clearly doesn't like it, the company has turned a corner on production and revenue, but they persist in pishing off the market with cloak & dagger sheite.

Good post HITS, it is the reality and it clearly isn't sitting well with investors etc.

The ONLY positive from the current price is that Forrest will hurt if he continues his offload at these levels, that I can live with ;-)

I don't really buy into that below Q & A, each compressor can fairly easily handle 7mmscf/d, yet we have seen much much lower than that rate on numerous days since this maintenance started, think there is a little more to it than he is letting on personally.

Hi, Why have flow rates been lower at Saltfleetby since the reported annual maintenance last week? Thanks Asked on 2 July 2023

There has been more extensive maintenance undertaken than originally planned on the B Compressor Caterpillar engine, to date involving only relatively simple replacement parts. These are generally reliable engines but this is the first service after re-entering duty and just like a car, the first service is often where the most work has to be done.