Member Info for Howey1927

It has been been suggested that each compressor is designed to handle 5MMSCF with contingency of 10-20%. That would give us between 11 and 12MMSCF. The issue being whether the existing wells can produce at that level?

I suspect they think not otherwise we would make do with the current set-up + 2nd compressor. We can absolutely meet the hedge so it seems but it's about maximising flow.

Agreed it all goes through the pipe to the grid but a successful sidetrack should enable us to ensure flow at or as close to 12MMSCF on a consistent basis. The 2 wells alone may not be able to acheive that level. It doesn't mean they won't flow through the 2 wells but from what has been said in IQ's and interviews, I think the sidetrack will do it's thing the a well or wells picking up the slack.

Morning Baits. I think that is the aim as it will accelerate production. The 2nd sidetrack will then open up new reserves, if successful, and allow the option for storage in the current reservoir. Production from the 2nd reservoir maintains production and we get the storage benefit. Win win.

Mira, Mira on the floor, your latest attempt at putting ANGS down is to say 'Mate of George's most likely'?

That's it then everyone. Under ALL circumstances, ignore the Senior Positions with BP and Rosneft because those are of little relevance. You to need to consider he MIGHT be George's friend!

Might as well sell up before the crash. Thanks Mira, for looking out for us!

Rik, hold out for £13.47 mate. Nailed on.

P.S. not ramping.

I love your posts Benny! Thanks.

WG, why shoo-ins be ashamed of myself? I simply corrected what you said earlier when I addressed Islandgirl.

Brixton, we might as well call it a nice, round £4317.

What's this then WG? Direct cut and paste.

DRB As you say the sidtrack is far from a dead cert, The last 9 attempts all failed. This is from a previous post of mine.

The OGA is now called the North Sea Transition Authority and the information is available from them if the links don’t connect now.

“Wells”.... and sidetracks.
The last 9 attempts at Saltfleetby by the best in the business all failed.

SF7Z
Spud 4th July 2003
Sidetrack 8th October 2003
Sidetrack 10th Nov 2003....Abandoned phase 2

SF8

Spud date 27 Oct 2007.
Sidetrack 9th Jan 2008
Sidetrack 10 April 2008
Sidetrack 26 April 2008...Failed and shut-in!

SF7W
Spud 14th Feb 2016
Sidetrack 13 March 2016..Abandoned phase 2

SALTFLEETBY ENERGY LIMITED

2014 Turnover £14,470 Million...............Loss for year £17.8 Million
2015 Turnover £8,099,Million...............Loss for year £9.58 Million
2016 Turnover £6,954 Million...............Loss for year £24,40 Million
2017 Turnover £3,568 Million.............. .Loss for year £2,95Million
2018 Turnover £0 Million.............. .Loss for year £2,70 Million

Islandgirl, that was WG so it can be ignored. Nothing but negatives from him/her.

Morning all.

DRB, the point is that Mira, WG, Bobrad, Vixen and a few others spent months/years saying there would be no gas. That GL would fail and ANGS would be dead and buried.

Now we have gas producing at a suitable level, rather than admit they were wrong, they are trying a different approach as to why we'll fail

The truth is, they simply want it to fail. I don't think you fall into that camp but some of your traits are similar and therefore the link is made.

You're more like HITS than you are any of those and bring a sense of reality to proceedings. I've never truly understood why HTS is here but always given him/her the time of day because they provide balance to the idiots who say this will go to £13.47. Although thinking about it, that was me! :-)

The next few months are going to be very exciting so ignore the nonsense, focus on the things that could go wrong and don't be too greedy. My opinion, of course.

GLA

BV, it seems like you don't want the 47p that you've ommitted from the target price so you can hedge that to me if you like!

Only a matter of time Brixton. Don't press that sell button until then!

I think it's safest to assume we are in the hedge for the next 3 years. The only way out would be that we produce so much we can negotiate a fee to get out early but this is unlikely.

If we are producing the volumes we expect, the hedge is a temporary inconvenience! Get the 2nd compressor online and drill that sidetrack and we are laughing!

I have used the gas prices from the ice.com, the flow as published in the National Grid report and the same underlying figures from Angus' Valuation Report as previously stated in the thread 'Flow for yesterday' (on the 23rd). For clarity, gas prices are not published for Saturday or Sunday so to plug that gap, I have used the Friday figure.

The point I am trying to address was that raised by WG and that Mercuria could hold us to the gas prices for the days on which production was missed. There have been no details shared for the nature of the deferent but this is a possibility.

The period up to and including September 2nd saw us build up a potential shortfall of £9,324,358.

I was going to share the figures for revenue we have generated since production started but I realised I massively undersold us, so I'll tidy them up.

Despite the number above we are looking in good shape, in my view.

I'll share all of the figures I've used for info/verification purposes once I've sorted them out, so you lot can mark my homework!

BV, the SP is still being subdued. Whether it is because of warrant shares being sold off, MM's playing games or folk waiting for the 2nd compressor/sidetrack I don't know.

What I do know is that at some point, the brakes will come off and it will fly. Hang in there people and you will be rewarded!

The alternative is that you do what Vixen did and shoot yourself right in the foot!

GLA and well done Angus!

I have done some work on calculating the potential impact of Mercuria imposing the gas prices applicable on the days where production hadn't started or has missed the hedged amount.

Is anyone interested in what I have found? It feels a little less relevant in light of the RNS this morning.

Mira, Mira on the floor, who is the wrongest of them all?

She is making Tory MP's do exactly what Boris did and go out an peddle the lie that everything is fine. I have no sympathy for any of them but Paul Scully had the hardest time of his life on QT last night.

He did quite well considering what he was facing into!

Blaming Gordon Brown and Kier Starmer shows the level of desperation!

*drill.

I shouldn't do this on my phone! :-/