Member Info for Howey1927

This must be aligned to downtime due to the sidetrack, surely?

Thanks baits.

It's fascinating, I agree.

I have based my view on an RNS being imminent on other drills I've monitored but this is the first sidetrack I've actively followed so this may differ because, as has been said, it's an existing hole.

They have stated 8-10 days from breaking through the casing so it would be good to get a time for that taking place so we can gauge when to expect news.

I picked up on the point about day trading , however I'm just excited! I'm not trading a single share!

GLA.

The last Tweet was sent at 3 o'clock, yesterday afternoon which means the last video was taken on Sunday at summer point (if they've stuck to their 12 hour delay rule). Therefore the whipstock was in position at least 48 hours ago. It MUST be close.

Is it about to land? Surely it can't be far away now!

GLA.

With the work on the sidetrack, very possible there was a little downtime necessary. Not a concern for me, whatsoever!

Great updates again, over the weekend.

GLA.

Sorry, of course. Confused myself because I started from production figures.

There are some discrepancies in the report (probably rounding) so if you come back from 1.75m therms, you get to 5.365 mmscf.

We'll be double this soon! Good luck.

Tony, how have you arrived at 5.37mmscf?

SOU took a chance by going public, I suspect hoping they'd get lucky. I would have doubled my money on their offer but I wasn't vaguely interested.

There hasn't been any mention of a takeover of ANGS for while but there were 5 or 6 other interested parties so who knows who might be watching!

Point to a share on AIM that isn't like that though, Mira.

MPO, my apologies. I meant to reference your question in the earlier post. The hedge volumes are as follows:

now - June '23 = 1.75m therms/month
July '23 - June '24 = 1.5m Th/m
July '24 - June '25 = 1.25m Th/m

We also have to account for the 2.25m Therms we didn't cover in July and August plus any amount outstanding as we ramped up production through September, although I believe that is covered.

This will hopefully be academic if the sidetrack has the desired effect and Balcombe, Brockham and Lidsey do their thing.

As I said earlier, check out the valuation report on the website.

All the best.

baits, stick it in a spreadsheet and then just plug each day's production amount and it's easy. You could weave in some of Tony's details and get a monetary figure out.

To give a bit more context to what I was saying earlier, the figures quoted in the National Grid report are Million Cubic Metres of gas (0.1771MSCM). To convert this to Million Cubic Feet (MMSCF) is the '* 35.3147' bit giving us 6.2542 million cubic feet produced yesterday. The reason for this step is because the Angus presentation details the hedge agreement in feet. Take a look at the 26th October 2021 Valuation Report in the Presentations section of the Angus Website (page 49).

The next bit is the conversion to Therms which ANGS, in the same report, quote as being 10,872.50 * MMSCF.

Just one thing, Tony, I make it 58,333.33 therms/day for the November hedge. (1.75m/30). Am I barking up the wrong tree?

There is also a potential amount needed to cover the deferred hedge from July and August, although none of us know what the deal is there, making it impossible to get an accurate figure.

baits, it's (0.1771 * 35.3147) * 10,872.5 = 67,676 therms per day. Multiply by the number of days and hey presto.

Fitzy, this is one of the recent Investor Questions and the companies answer.

Q: Can you please confirm the seasonal working hours over the Christmas period at Saltfleetby. For instance, will the company be producing gas on Christmas Day or is there a period of closure? Thank you. Asked on 30 October 2022

A: The facility is 24/7/365

Isn't that normally Mira's line, HITS? Did you use the wrong username and password? ;-)

Good work baits. I wish I had some spare cash lying about! An update on the planning hearing would be very welcome!

Fitzy, I told you!

Fitzy, doubling your money is not out of the question in the short term. This reached a recent high of 2.8p on the confirmation of flow RNS in early September. With the sidetrack and 2nd compressor, we should hopefully see an doubling of flow rate at a time where gas prices are increasing as the weather will inevitably cool down. Double the flow, double the SP? Not a ridiculous suggestion so that would take us up to 3.9p from here, simply on double flow. Double flow and increased gas prices would possibly lead us to even higher again.

However, the sidetrack isn't a given so you need to factor that in and a failure would lead to a slide in SP, I suspect.

Look at Twitter, read the RNS', watch the presentations and decide what you think could happen.

Then we have the oil assets. Balcombe is of particular interest given the flow rate achieved in test, albeit over a short period. Before my time so I'll let baits fill in the detail. I'm sure Mira will have something to say too! Brockham and Lidsey will churn out helpful amounts to keep the lights on but no more, I suspect. Then it's what comes next. We brought on board an ex-BP M&A director. I don't suspect he's twiddling his thumbs!

All my opinion so you need to form yours. Good luck.

Jarv, I appreciate what was said but that is my view. Have you heard or seen the TL government quoted as talking about Chuditch? I hope you prove me wrong!

I believe and hugely hope that we benefit from Sunrise as that is where TL are focused.

Just my view. GLA.

£14.37 = £43.1bn mcap, just out of interest.

Adam, I can totally see where you are coming from asking the question. Why would TL need to start work on Chuditch with the income rolling in from Sunrise?

What Sunrise will demonstrate (hopefully), is that TL Government are willing to alter their position on where the gas goes once it's extracted and will make Chuditch a viable, shorter term prospect. Until now they have been adamant that they were going to be doing the processing on TL. If they allow the gas to be processed on barges (as the Portuguese story looked to suggest) or sent to Oz, it opens up our licence for bigger fish to move in and help (takeover) and BOIL starts to make real sense!

The additional income that the combined fields would bring could also help transform the infrastructure of the island and begin to make it's economy less reliant on just O&G. Maybe not the jobs in the Gas processing field that they wanted but in other industries that will have a longer term future anyway. O&G won't be around forever!

That's my view anyway.