Member Info for E_AL

Someone on twitter thinks Alba wants to pump the sp before placing for Brockham

Nice chunky buy just gone through : 16:22:39 17.625 2,000,000 352.50k

I really hope they'll get the RNS/tweet right this time... Nothing ambiguous or could possibly get misinterpreted ! We lost a good chance to have a tangible sp recovery (up to 5.5-6p) from the water isolation rns because of its wording !

Mr008, I agree with you on sp hit the rock bottom. Good support around 4p and we know we have so many updates coming ahead till the flow test results day so knowing how volatile Angus sp is, I personally expect the sp to climb back all the way up to at least 10p just before declaring the flow test results.

Saying that, I think the next rns will be related to ordering the flow test equipment because the goal of stage 1 was to isolate the water zone and according to Angus : " we are very happy to have successfully isolated the water from the well." so next rns/tweet should be about ordering the flow test equipment or confirming the delivery date.

Also BigTen4 on :

"Thursday at 15:49 :

"The positive news would be
1) Sttage 1 complete
2) water issue resolved
3) Dry oil to surface

That should at least move it to 8-10p on that alone"

Thursday at 16:12

LEFT RIGHT LEFT RIGHT 8-10p on good news as previously stated"

On Fri 10:56
7-8p by end of next week KAPLUNK !!!!!!!!!!!!!!!!!!!!!!!!!!!! choo choo"

.........Make up your mind mate ha

Thanks Silas242 & Alan for the details and I totally agree with your points of view.

Alan, am I right to think that after setting the bridge plug Angus will test the pressure inside the well, relog it then analyse the results and only then Angus will find out if the water isolation was successful? IF they are happy with the logging results then the job is done and they will then install the Christmas tree assembly and demobilise the rig.

Otherwise, if they the logging results showed a problem then more water isolation work will be needed and they will NOT demobilise the rig UNTIL the water isolation is completed ?

Mr008, shareholders didn't sell because they know we hit the bottom and the only way is up from here, at least for the short term and even traders know it. No matter if the flow test leads to commercial oil production or not, Brockham was full of oil or not, everyone know that the flow test equipment will arrive in Brockham within the next two weeks then updates, tweets, photos and videos of oil tankers or work on ground will circulate on social media which will push the share price back to at least 6p (if not 7,8 or 10p) which means at least 50% profit in a very short period of time. Its a win-win for any new entry at 4p !

Personally, I strongly believe that the oil is there, its already flowing couple of miles away (horse hill) & the share price will climb back up to two digit within the next two months]

"Why did BP give up on the weald area ? several years ago. They didn't think it proved commercial."

Paul Vonk answered your question last October in an interview :

PV: Angus energy is a UK onshore oil and gas production company, we focus on existing assets that have a lot of
embedded value in them that have been overlooked in the past for a variety of technical reasons and we think we can deliver quite significant contribution to the UK.

Q: So the technical reasons are not that they were too small to be bothered about it is actually that they were overlooked for they were difficult or would be such big assets for instance ?

PV : Completely correct the assets that we have in our portfolio have been drilled decades ago the UK has a long history of UK onshore oil gas development we have a portfolio of production sites that have been in operation or have been drilled in the 80s what we're doing is we are producing oil from a layer that has been overlooked for technical reasons primarily because it looked like a tight limestone that couldn't contain oil

Q: So geological reasons not economic reason ?

PV: Correct and now what we've shown because we are the company that originally drilled the horse hill well we show it's not a porous reservoir something like a sponge, its a fractured reservoir and with the technology they had in the 80's they were unable to identify it and what we've done at horse hill and most importantly at Balcombe we've showed that those can be commercial quantities of hydrocarbons

Q: So people have underestimated the latest technology and also the error in geology they're still assuming they're in the 1960s or 70s ?

PV : Yeah it was quite easy to overlook them in the 80s but what we're using is new technology so we're using conventional old-fashioned means but having a better interpretation and then producing an unconventional Basin conventionally and the results that we have are ,well significant !

Check the first 2.10 minutes from his interview : https://www.youtube.com/watch?v=q9riOStykuw

" I would expect they are analysing the logging results following isolation and reperformation before proceeding prior"

"I would say the logging results would be being analyed against previous results and seismic studies etc."

Angus should have analysed the logging results BEFORE demobilising the rig in case extra work needed.

As Alan mentioned before, I think this is an excuse to buy them some time. They mentioned before that they wont order the flow test equipment before reperforating the well and isolating the water.

I mentioned this earlier, we shouldn't keep blaming Vonk for what happened in Brockham last December. We had sufficient cash at the time to cover the flow test cost & Vonk told the market what his Operations Director informed him : Perforate Brockham then turn the taps on ! Blame the one who was paid £90-120K salary plus millions of free shares then perforated the wrong zone.........

Vonk had the MD charisma and people liked him, he knew how to approach the market and how to promote Angus unlike his successor or the new chairman who we never heard from either of them or saw them attending investments/O&G events or interviews to promote their company.

Anyway, we are now back to where we were last December but this time we have a perforated well and will actually turn the taps on and find out what Brockham has to offer !

I cant agree with you more Alan, I really cant understand why they didnt say right from the beginning "we are very happy to have successfully isolated the water from the well." ...... instead we got RNS about re-peroration ?!!! then an ambiguous rns today which caused panic among PI's and sparked a sell-off to follow up later with "tweets" to save the sp from sliding into 3.5p (to salvage their £500K fundraising) !!

They really need to work on the IR side of business, Lucan promised us LTHs when he joined the BOD that he will :

"I believe we can make immediate and significant improvements to our relationship with shareholders is in the way we communicate the Company’s operational activities. As an immediate priority, I wish to improve this aspect of how the Company operates and ensure that they are comprehensively informed about the Company’s operations"

But the only things happened since were fixing a problem which shouldnt have happened (perforating the wrong zone), 2 substantial placings, buying DL's share in Lidsey (imo to return the favour for standing by Tidswell in the coup) and the cheery on top been the Saltfleetby gas filed adventure !

Anyway, things seems to be moving forward now so I really hope that we are about to see the light at the end of the tunnel and the well test equipment will be delivered to Brockham very soon.

1- "To clarify the RNS regarding Brockham: Under EA/HSE/OGA regulations, hydrocarbons are not allowed to be produced to surface at Brockham from the BRX4Z well without adequate process / well testing equipment in place."

2- "Once the well test package is in place, a flow test will be carried out and only then will we know if BRX4Z will flow commercially. All we can say at this point is that we are very happy to have successfully isolated the water from the well."

Hmmm it looks like Angus shouldn’t have added “without bringing hydrocarbons to surface” to the RNS .. what benifit this phrase added to investors ?! “Water zone been isolated successfully”would have done the job

Now this is what we were all waiting to hear !

“Angus Energy (AIM: ANGS) is pleased to announce that the rig has now been demobilised. Additionally, having set the plug, and function tested the downhole pump we believe that we have, as planned, successfully isolated the water zone without bringing hydrocarbons to surface. This is in line with our timetable of works as published in RNS of 3 April 2019.

We will now analyse the results with our partners before proceeding to the next stage which would involve bringing on site full well testing equipment and commencing flow tests.

George Lucan, interim Managing Director, writes: "We set out a detailed timetable of works at Brockham and have completed the first stage of works efficiently, safely and on time."”

There isn’t any bad news here, in fact it’s an excellent one which we’ve been waiting for weeks to hear but my question would be why they are not shouting it from the rooftop knowing all eyes are on BROCKHAM !!

“Work to isolate the water, reperforate and recomplete the well was completed as scheduled on 7 May 2019. The Company will continue to update investors regularly and in detail as it progresses work at Brockham.”

Alan is taking the mickey Pboo, Lucan promised few months ago to set a forum for shareholders but it never happened

Alan replied to a tweet this morning :

"@AlanTho64437536
They should be issuing the RNS once the well is secured...which it is as you wouldn’t be rigging down the rig at all."

Only buys so far & L2 looks good !

Strange thing, shares in issue still show 467.27m shares .........

Guys, I was referring to Angus's presentation 'Brockham work programme' which stated two stages then a breakdown for each stage :

https://ibb.co/XkzZdJd

Stage 1 : https://ibb.co/wcPXXXC
Stage 2 : https://ibb.co/Zx2wz3J