Member Info for Howey1927

Pre-opening anomaly. Happens almost every day, don't panic (if it goes down) or get too excited!

Thoroughly well said Rak.

I bought back in on the rise a few weeks back after a few months out of here but always kept an eye on it waiting for the moment to get back in.

Apart from the obvious massive upside here, the other thing that struck during my previous spell was how this was the best LSE board I've been on. Oh how things change!

Today was utterly pathetic. The flurry of new, all knowing posters is just what we didn't want. They plague every board with either a view of doom or untold riches and they serve no useful purpose other than for their own benefit/amusement.

I hope the decent posters are not put off contributing and can ignore the nonsense.

GLA, hopefully the start of positive news is just around the corner.

Mira, there isn't much available in terms of the costs of drilling but this is the search I used.

How much does a drilling rig cost per day?
How Much Does It Cost To Run a Drilling Rig per Day? Your daily rate depends on the rig type, distance from shore, drilling depth, and water depth. Onshore drilling rates range from $200,000 to $310,000 each day. Offshore drilling can cost between $600,000 to $800,000 per day.

If it's £40-£60k a day, then I'd be thrilled based on the expectation I set myself about 15 mins ago! If we need to do a placing for that, I'd just give Yanis a shout to see if he needs any more!

Sage, I've heard this being suggested before. How exactly has the high gas price benefitted ANGS thus far (ignoring the past few weeks)?

When the deal was negotiated for the loan facility and the hedge (the vast majority of what is owed), the gas prices were significantly lower and there was no suggestion of the turn of events we now face into. Forum parted with their shares in SFB knowing what was going on in Ukraine so that wouldn't suggest luck on GL's part. GL took a risk that Forum clearly didn't want to and that will now pay off. Good Business.

In fact, I would argue that the hedge being negotiated when it was has turned out to have been desperately bad luck. The hedge would not be anything above 43p/therm in the current climate so Mercuria are the lucky ones!

I'm interested in why you believe ANGS are lucky as opposed to ALL O&G explorers/producers. Happy to be convinced.

I thought that too, S_L. I was going to go back and listen again but I'm pretty sure the only mention of placings was in relation to M&A or investment activities.

I don't recall seeing the cost of the sidetrack quoted anywhere but maybe one of you have? It would be easy to work out a rough daily cost using the estimated drilling time. Googled it and I can only find details about US drills. $200k-$310K per day is suggested so, thanks to Liz and Kwasi, that's pretty much equates to £200k-£310k per day, not allowing for any difference in cost in the UK but it provides a rough idea.

Mitch, wrong side of the bed this morning?

Davies, he's 1865 years younger than you!

DRB, I'm not trying to play down the fact that he referenced it and I'm not ignoring the fact that it could come into play but I thought GL waffled that bit. Listen to it again. He mumbled his words at that point.

However, WG has done nothing but talk this share down and point out the negative angle on EVERYTHING since the day I've been here. This isn't balance or putting across an alternative opinion. It is blatant attempt to undermine the company and put people off investing here. I try to rise above it and I took the time to produce the figures on the roll over hedge a a result of WG's comment, you may recall but there are times I can't be bothered even trying to accept WG's nonsense.

Last week when the RNS for the webinar came out WG said a placing is coming. After the webinar, WG suggests that we can ALL see it's coming by virtue of the fact GL didn't rule it out, despite the fact that he caveated that with a placing for M&A or investment activities.

I'm not ignoring what GL said I just won't accept the nonsense we have always got from WG. I suggest you do the same but hey.

WG, good morning.

I don't see it as being spoilt, more having been enhanced for my own amusement! :-)

I presume you are once again talkiing about a placing? As you point out, anyone who watched the presentation will have heard George say he will not rule out a placing for M&A or investment activities. You will have also heard him mention the sidetrack being funded, save for the waffle about the 10 days.

Why do you continue to spoil this baord with your 100% negative posts? You could do some good as you clearly do your research? You might even make a few quid if you invested buy hey ho.

And of course, we haven't yet reached the point at which we know the flow capabilities of the current set-up so that needs to play out first.

We are already exceeding the hedge commitments and paying down debt . Is the debt being paid down the loan or the rolled over hedge? We don't know yet but the signs are promising.

DRB, It depends on what, if anything, is holding back production at the moment?

The scenarios as I see it are:

1) The existing wells are flowing at a sufficient level but the compressor is at capacity and is slowing production down - we need the 2nd compressor brought online to increase throughput from the 2 wells.

2) The flow we have from the 2 wells has settled below the level expected for us to comfortably exceed the hedge - sidetrack is needed to increase the flow of gas out of the ground.

3) The sidetrack is drilled and increases flow beyond the capacity of the existing compressor - the 2nd compressor is needed to maximise production above and beyond the hedge and makes us lots of lovely money!

4) MIra, WG, Vixen, Bobrad and the others were right all along and there is no gas - my alarm clock goes off and saves me from my nightmares!

GLA

I haven't. One I missed alas! BOIl coming good would be pleasing!

Gallder, all the figures I produced recently used that figure for the same reason.

Which ever way you look at it, we're doing ok. :-)

Thank you for clarifying that for us Yanis.

That will do nicely!

Noel, you might be right but i got the figure from here.

https://www.convert-me.com/en/convert/energy/therm/therm-to-mscfgas.html?u=mscfgas&v=1

Ocelot, oh, it's this week? :-)

Once again my children dictate that I cannot join as it happens so any snippets worth a mention will be gratefully received!

Cheers.

That would require an RNS, wouldn't it? The other warrants being exercised certainly had one.

But HITS, the figure quoted by ANGS overstates the number of MMSCF needed for each therm, as I pointed out to you recently. ANGS have used 10872.5 per therm when in fact, as you pointed out, the figure should be 10282. So we are producing more therms than ANGS potentially thinks we are!

Feel free to complain on our behalf! Thanks.

Morning HITS. I'm not sure than constitues critisicm, more a recommendation for the new fella.