RE: Check mate28 Aug 2024 08:57
Uk gas going again could see 100 today
Trafigura and Angus aim to “leverage their complementary capabilities and collaborate on an underground gas storage facility in the UK, for natural gas, CO2, or hydrogen”, Angus said in a recent announcement on the London Stock Exchange.”
The MoU sets out the terms and a model for cooperation for the two companies, under which they plan to review the technical and commercial feasibility of storage at Saltfleetby, as well as agree on commercial terms and schedules for a future storage project.
Under the MoU, Trafigura will act as the initial customer or offtaker of a proportion of the stored product, subject to quality specifications, according to the announcement.
Within 12 months, Trafigura and Angus will set the specific milestones required to establish a gas storage facility at Saltfleetby, subject to technical and commercial feasibility, Angus said.
Trafigura throw 20m at angs to consolidate debt, remove hedge and leave 6m cash to upgrade and drill
At 8%
They then not long after secure offtake rights to gas storage
Saltfleetby being the largest gas cavern in all the uk
Next to the North Sea
Bang opposite the billion £ Viking project 🤔
UKOG 5 bagged on gas storage then placed
Angs need no placing.. they are quite largely profitable now.. but super tax means their better off reinvesting
So they got planning permission for 4 new wells, reopened an oil asset and have serious plans to be a ccsu gas storage monster
11m mcap 6m cash
🤔
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