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I can't believe we are back at 50p a pop here.
Sure Dr T didn't cover himself in glory at the CMD. He could have been more tactful with his put down of the analyst. Afterall, these are the guys selling HUR to their clients.
The case for HUR remains solid. 50p a share is rediculously cheap given the medium term outlook on Lancaster alone.
JTP could be right about the grid connection. However, I'd be amazed if the de-commissioned gas terminal had a grid connection less than 25 to 30MW which would be just fine for on site power generation. Start small, one unit, then two etc.... Very, very low capex, very low risk. Effectively free gas.
Gas condition - Reciprocating gas engines are not fussy on gas condition, quite tolerant in fact. These engines are used around the world fed on bio-methane from landfill, anaerobic digestion plants, sewage works, they aren't fussy. Gas pre-treatment requirements would be minimal, basically a filtration skid in front of the engines.
Emissions - Whether the gas is burnt on site at Saltfleetby or in a thousand central heating boilers, the CO2 emitted is identical.
Free gas + leased gas engine skids = very low capex - minimal opex + very nice profit on cash flow.
George, are you reading this?
It seems an obvious thing to me, but wouldn't Angus Energy be far better served by leasing a couple of reciprocating gas engine generator sets and converting the gas to electricity and feed into the local area network? It would be a way simpler way of exploiting the remaining as there. The engines come complete on skids. You pipe up the gas, connect the power export cable and way you go. You don't even have to do it yourself just contract someone like Clarke Energy to do it for you. It seems so simple to me? Too obvious perhaps?
Thanks, it was flat when I posted. We all know Dr Trice under promises and (usually) over delivers. I reckon the RNS is about as upbeat as he's ever going to be. This stock should be 65 to 70p right now.
What do HUR have to do to move this darn share price upwards eh? That's a very solid RNS.
Interesting, the Amundsen Spirit could be calling again soon. I have lost count of days since the last offload. Presumably we're in the 9 to 10k barrels a day territory since the last off load. Good to get regular revenue coming into the bank. Helps to demonstrate how rediculously low the present share price is. I never imagined we'd still be less than 50p a share at this stage.
41p on II.
Oh dear. 40p opening price?
Though I'm in the industry, I am 100% downstream. I'd love to hear more from the experienced upstream guys here. No flare noticed from the ToL, it's not necessarily a bad sign then? Thanks.
Below 50p? Can't believe it.
100% for sure - "All that matters is production. ". Exactly my point, ANGS do not have any worth speaking of. Just seemingly, empty promises.
Thanks. For the benefit of doubt by "difference" between UKOG's and ANGS's Weald assets, I was referring to UKOG's producing, while ANGS's aren't. I wasn't questioning the geology or anything. Thanks again for the thoughts.
The elephant in the room - ANGS Weald assets are nothing like Horse Hill. Horse Hill is producing and creating revenue for UKOG. Until ANGS is shipping oil, it's assets are one big question mark in my mind. ANGS seem to be just SO SLOW if they're so confident their assets are as good as or better than HH. Lots still to prove.
Thanks all, perhaps I just expect too much after the recent let downs we have had one after the other. Thoughts are appreciated, but I am nervous that the silence may become defening.
In my mind, ANGS has degenerated from a fairly reasonable small oil co to very close to a laughing stock co. I feel mildly uncomfortable about how George Lucan is bigging up a piddly little gas deal. While totally silent on the main plays, the Weald assets. Why? What is George NOT telling us? I find the complete silence very odd and somewhat concerning. I used to think ANGS looked a reasonable decent small firm. My opinion has been proven very, very wrong. Am I the only one thinking this stuff?
Encouraging, but still a longhaul for me to exit this dog of a company at a half decent price.
Sure, the ADVFN site is a nightmare to use. I gave up trying on a PC. I use the android app and just look at the prices and the chat. The chats are impossible to make sense of on their website. At least they are to me, life's too short for rubbish website desgn like that. I'm amazed it survies frankly. It's like a throw back to about 1998.
Yes, G15, that hasn't gone unnoticed.