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Lolololol,,,, whatever !!! THAT IS NOT what the ORIGINAL RNS stated is it lolololol

Wonder how that ermmm RTO come nothingness story is progressing lolol

""There is a reason their share is suspended, they are in positive discussions to restructure their debt.""

EHHHHHHHH you got dementia ?? THEY suspended due to some horsesheite RTO lol,,, or did you conveniently circumnavigate that and it suits to make it about the ermmm level of shafting they will receive from Trafi, Ohhh I mean take it gently, restructuring lololol

""Another good operational result from Saltfleetby for Angus, a rise of c.30%""

OMG, more from the "free lunch" muncher.

WHAT he & you lot fail to actually note is that they reported this so called 30% RISE, AFTER their worst previous production quarter lololol,,

What is needed is far FAR more than what they are getting NOW, because it didn't pay the bills before suspension, so prey tell WHY you think it will suddenly be enough NOW lololol

ZZZZZZZZZZZZZZZZZZZZZzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

MoneyLozzzer,

I been posting on Weald oilers since the story started out there, gezzzz your a very bitter person, but hopefully IF they lift suspension before April, you could bank your losses !!!

And like I have said before, I doubt Angus will be wrapped up, Trafi will simply use them to operate and pay back the sinkhole of debt & penalties until there isn't anything much left.

Meaning there is nowt for retail, this shower of sheite undermined everything up to suspension, and now Trafi has the baton to finish the job.

Totally agree Keatzt,

This year is probably THEEE most important year of EMH's life, and "should" see some significant news flows that hopefully equate to a solid rerating, and it will likely happen when we all (retail) least expect it.

""Ye, you all gave that same FOMO, late to the party nonsense before the DFS. Then the sp dropped from 24p to 16p""

ANDDD ?? that's what stocks do lol,,, AND that is WHY trade it on news or seemingly "no reason" mini rallies, it's called a "MARKET" for a reason, they don't call it "hug n hold" not on any market platform I use anyway lol... Don't fret though Skelly, you didn't lose anything or gain anything, coz your not in !! lol

""it was about demonstrating that the wells were constrained and that low-cost, standard interventions can unlock meaningful incremental production""

LOL MoneyLozer, yes it is a relatively cheap (or so we HOPE) workover to "regain" some of the diminished production, BUT it is, and always will be both diminishing and a short honeymoon period until it chokes off AGAIN, and I can categorically state, IT WILL...

As for revenues, well as said, it wasn't enough before, and it will struggle now, especially after trafi reem them out !!

Of course, lets all pray for this "event" to save this shower lol.....

Ocelot,

Stick to praying for global Armageddon to save this outfit, Brockham is basically going to cover its P&A and restoration costs, that's about all, and the condy, well at least they make something out of it, but it clearly didn't make any difference to the bank balance just prior to suspension, so I cannot see why it would suddenly be a company maker now... personally I would prefer NOT to see condy, as it is an "induced" product that WILL be the grim reaper of this field eventually.

""Estimated annual revenue ~£18.7 million""

PLEASE explain WHY you think that this level of revenue is enough to cover all OPEX & CAPEX & debt repayment ??

THEY had this before, and the result was the pot was almost empty just prior to suspension, AND that is with the £20 mill from their generous creditors and AN EVEN MORE GENEROUS 12 MONTH GRACE PERIOD, and still the pot was empty, ADD to that they didn't even pay the never ending royal shafting royalties from the pot, they generated more confetti for that lol... so please explain where this NEW upside is going to come from ?? lololol

""That going-concern line is doing a lot of work though. It keeps reminding the market how precarious things still are.""

100% precarious, when you default for such a significant sum, not just a mid term default, a default on THE VERY FIRST INSTALMENT after such a generously given 12 month grace period, will leave a VERY bad taste in the creditors mouths.

In the words of DJT "Angus has no cards", the creditors own their a55es and hold all the Aces"

""Even allowing for flowback effects, a response of this size suggests the wells were constrained prior to intervention and that the stimulation has had the intended impact""

I don't think that was ever in question, there was almost certainly significant banked condensates/liquids, removing as much as possible can only benefit surface rates, though I fully believe they will not have removed the greater near wellbore banked liquids, only a portion of that, and it will eventually build up to constrain again.

The problem with tertiary recovery, is that there usually comes a point where workover costs start to hit a point of costing more than they gain, or the benefits soon erode and it becomes impossible to continue. They are in the twilight years for this field, not because of the gas that is down there, but because they will eventually hit that critical point where liquids choke off free gas production and it becomes non commercial.

The same as happened when this was producing to Theddlethorpe and liquids killed off the crude production methods they used.

Its an OK RNS, nothing more than really expected, simply because it is in it's clean up "honeymoon" period, and comparing increased rates to their WORST production Quarter doesn't wash with me. anyway, it is good that it has at least demonstrated improvement, though for how long remains in question.

As for resolving their default !!! well no change there is there... same old same oldddddddddddddddddddddd

I would say it was a pretty BIG blunder to allow Balcombe to lapse, they HAD approval in hand and now they open the door for another bout of local rejection, just because it was approved once, does not mean it will be a given.

Geeeezzz that's a LONG time technically in default !!! Anyway gas prices trolling the 70p and clearly heading to summer prices.

""Sorry Skelly my last post was not just aimed at you. It was directed at All silly poster that add Zero value to this forum !!!""

Ehhhhhhh,, made more sense aimed at Skelly, who adds nowt but doom here, told him he should have bought in when it was single figures, bitterness lol...

What you need to realise Fartoomany, is that whatever they get immediately after liquids have been lifted, is likely to be the "peak", simply because without velocity strings, it will simply immediately begin inducing even MORE liquids, which will simply start banking AGAIN, and slowly choking off production of free gas.

Add to that, they gonna NEED to give it some, since the price of gas is VERY close to heading into the 60's, at 72p this morning.....

NOOOOOOOOOO Fartoomany, THAT is courtesy of WG's post, VERY accurate !!!

Maybe you have him blinkered out from your screen,,,, see this is what happens when you do that, you miss good info...

""This wording avoids speculation, sticks to standard credit language, and explains why the absence of an RNS saying “default” doesn’t change the reality.

Basically the cheerleading squad are saying Batman doesn’t wear Black it very very very dark grey….even though everyone can see black!""

EWWWWWWWW those pom pom waivers are frantically trying to tweak the headline to make it come back with something they prefer lololol BUT it is the REALITY !! Defaulting is exactly what has occurred, like it or not !!!

"A positive update from Angus""

Simple translation = We are DOWN, but not OUT>>> YET