Member Info for Ja51

Funny that Alan, you can do all that research in 5 minutes but you haven't listened to the CC!!............... Do me a favour.
I think you will find this helpful!! " MUSCOVY OIL SERVICES LIMITED"

https://beta.companieshouse.gov.uk/company/05621404/officers

I doubt many on this board will believe you haven't listened to the Conference Call Alan!
There again a lot won't believe you full stop after costing them dear with your"Expertese" You do realise your history gives you away don't you??

Just for you what Andrew Hollis said

"If we saw, say, 300 barrels of oil per day, which the Horse Hill well has been producing, we would be delighted. I think that would be a good result. We may achieve a little more than that because we have a slightly thicker section.”

I don't believe he was Directly employed an Angus for the other projects you blame him for also!

Have a listen about 23 mins in:

http://www.angusenergy.co.uk/media/videos/

Alan
Who do you think wrote this then??..............You really are something else!

Alan2017

Posted in: ANGS

Posts: 3,117

Price: 9.15

No Opinion
Calmez Vous Folks13 Jan 2019 04:22

I first posted this on Thursday at 05:56 titled “What’s on the Brockham Menu?” It is still very relevant. I see the usual suspects post incessantly about there must be problems at Angus and comparing it to BB. Loooooooong sigh. There is no issue at Brockam.

Scally
You will have to look back to the original PP for Lidsey. The link may be in my history. It relates to the access track/road and is listed in the paperwork relating to the permission.
I remember it well as it was the time the pump and dump brigade were desperately trying to deceive this board that it Lidsey had a 24/7 production permit!!!..................................What has happened to Alan, Renagade, Waist....etc......LOL

Scally
Lidsey production.
They would have to produce for 4 days just to pay Southern water the fee to access the site!!! And thats on the best production figure this year. and that's the cheapest item on the list of expenses.

Scally

Latest OGA Figures just out for Lidsey have just been released.
15.35 BOED a day for May which is actually the highest figure this year! ..............Not commercial by any measure though!

https://data-ogauthority.opendata.arcgis.com/pages/production

meldrewmark2 - "If this share was a horse"
Don't you mean the glue factory?...lol

The fall doesn't seem that strange really given the fact Angus are running at a massive loss with no income to speak of. They will also need to satisfy the attached to move forward whether Balcombe or Saltfleetby the criteria must be met.

https://www.ogauthority.co.uk/media/5003/financial-guidance-august-2018.pdf

177.Financial GuidanceLicensees must meet certain financial criteria to demonstrate that they have the financial capacity to exploit the exclusive rights granted by the Licence. The OGA has two distinct types of financial criterion: Financial Viability and Financial Capacity. Financial Viability refers to a company’s ability to remain solvent while Financial Capacityrefers to a company’s ability to meet known and specific costs.The OGA’s financial guidance can be found here.The measures described in the OGA’s financial guidance are solely for the purpose of establishing whether Licensees have the viability and capacity to undertake the obligations of their Licence.These measures should not be assumed to meet the needs of third parties who have an interest in a licensee’s financial capability.

Charlie in case you couldn't be bothered to look!
https://www.ogauthority.co.uk/media/4959/29112017_consolidated-onshore-guidance-compendium_vfinal-002.pdf

Charlie
LL made that statement thinking the £2.5 Million from the Saltfleetby would be available to use. The last RNS clearly states it won't be. Add to this the OGA also requires the operator to be financially viable to award the licence and funding is inbound without a doubt (if they can even arrange any after the last disastrous placing)
I've said on or around Brexit day and ill stick to that date!

Torreaguas
The only money that this company is generating is the interest being earned on JTP £211.000 loan.
Lidsey is losing money producing only 8 BOPD .....So Net 7 to Angus the only other revenue stream!!! ...........So yes funding is going to be needed END OF!!!

DHC
You also forget that Andrew Hollis said in the CC that they would be delighted with a flow rate of 300BOPD.........That's just 75 BOPD to Angus...............and they are years off getting a production licence should it prove commercial, That in itself is going to need to be very high consistent flow rate to make this commercial given its almost certain a specially designed injector well will be required at vast cost. Given also that the new EA regulation severely restricts the type of drilling muds and additives that can be used it's when drilling new well its going to be a tall order to get Balcombe to a commercial-stage. (The EA really are the elephant in the room here)

Brockham will cost money to dispose of (See related RNS) and Holmwood if it ever happens comes with an £800,000 drilling cost to Angus (Another passe the parcel dodgy deal)
Conference call still on Angus website listen to it about 23 mins in!

This would seem prudent as he is toxic to investor sentiment and adds no value to the company whatsoever!!!
Do the right thing, George!!!

Then Sack him!!!!!

Dear George

As you are duty-bound to look after shareholders interests would you look into the possibility of the Payment on demand of the £2011,000 directors loan to Jonathan Tidswell-Pretorious? by way of his shares now approximately the value of the loan being returned to the company.

Facts are Facts..........You cant twist them however unsavoury they are to you!!!

It's hardly speculating.

You yourself admit they are going to need funding.

Some will have bought in on GL's claim that they will have £2.5 mil cash from the deal.......this is quite clearly not the case.

As for your suggestion that production is meaningless in this context.
Lidsey (the only producing field 8 BOPD last figures submitted} is uncommercial on any scale since it started production back up last year. It needs shutting down (another big cost)or another god knows how many £ million-pound investment in a play that's not even in the licence area. Another massive cost to a company with no money and no trust from the market!

I suggest you read the last RNS on the subject and then check out the OGA website for the information. Also, have a look at the company accounts it lists de-commissioning costs and i could be being generous at £3.5 million.

Charlie, they are only producing 8 BOPD!
They also will have £3.5 Million ring-fenced for de-commissioning costs as required by the OGA.
They lost £2.6 million last year without Balcolme or Saltfleetby on the books without those extra costs. I would estimate they are losing Circa £10.000 a day with these extra costs. Funding is going to be required sooner than many are expecting

https://data-ogauthority.opendata.arcgis.com/pages/production