Member Info for Mirasol

"ROSS CLARK analyses the state of Britain's energy reserves "

Wow the Mail on line......... really , really influential in the corridors of power............

Shell exited the UK onshore over 20 years (may over 30) ago - they're not going to come back in for a couple of mmcf per day

they produce TRILLIONS of cu ft elsewhere

The only named potential buyer of ANGS is another lifestyle AIM company with no cash

"The impotent whinging of Argentina is not then main reason its hasn't gone ahead, but the it was the mid decade sustained slump in oil prices and lack of clarity."

Agreed - but RKH are still suffering from "lack of clarity"

" Chairman of Rockhopper and the Chairman of Union Jack Oil. "

hey! You missed out Steve at UKOG - Heid's "uncle"

I agree yanis - what we're seeing is the chickens coming home to roost after years of mis management and dodgy goings on

Simply no one trusts ANGS - they may believe once the gas is flowing and the amounts independently verified but until then - sit on your cash and watch

"But the off-take agreement for the entire production from the Saltfleetby Gas Field is with Shell Energy"

they're buying it if it can be produced - but it's like calling up DHL - they'll take your package if it's ready - but they aren't going to buy your house off you

" That makes Saltby at today's market gas prices very very attractive."

Adrain - Pity they've had to hedge a lot of it a t a lower price.....................

"The Oil & Gas Authority gave its backing to Shell UK Ltd taking a 70% stak"e at the P1929 and P2304 licences, which contain the Resolution and Endeavour gas discoveries. Egdon will keep a 30% stake.'"

perhaps you haven't notice d that these are offshore? and EDR are promoting resources of 230 Bcf?

Ocelot - these posts are ridiculous - you could double the price of oil and UKOG wouldn't make a profit

"Namibia, South Africa and Guyana are not mature provinces able to support a huge ramp up of field development. Sealion off the Falklands is drill ready with a very 'mature' plan to develop, but no operator and no financing yet."

Guyana - Mike Cousins, senior vice president of exploration and new ventures at ExxonMobil, said: “The Fangtooth discovery is a successful result of our strategy to test deeper prospectivity, and the Lau Lau discovery adds to the large inventory of development opportunities in the southeast part of the Stabroek block. Both discoveries increase our understanding of the resource, our continued confidence in the block’s exploration potential, and our view that the many discoveries to date could result in up to 10 development projects.”

There are 23 major discoveries off Guyana, 1 FPSO in production since 2016 at 120,000bopd, another one about to arrive (+220,o000 bopd) and then one a year @220-250,000 bopd each for the foreseeable future

Sea Lion is a good development opportunity and there is a lot of running room but its 10 years behind Guyana - on e of the differences is small oilers v EXXONMobil when it come to planning, financing & executing developments

"Gideons, there are some small O&G companies with a fair bit of cash at the moment, and of course surely Shell must also be one of the interested parties."

In 2020, SDhell natural gas production reached a total of 2.79 trillion - SFB will produce around 5 mm scfd so buying SFB wil increase Shells production by 0.01792% - yeah sure -they spend more on hand soap in the loos

"CNE is about to pish away a tax refund of a billion dollars on dividends and share buybacks"

You mean rather than blow a vast sum on more oil exploration and development? I think more oilers should do the same TBH

"Whilst there's potential well issue's, with money in the bank none of them are insumountable as there's enough oil in the reservoir (without a new CPR) to warrant the work required"

This is true but you should also consider that any serious issue with the current well will mean immediate cut in income until its fixed - and that may take several months.

The BoD need to have some backup income ASAP - maybe even buy a "Piper Unit" - to cover running costs in such a case

"I don't think I have come across an AIM oiler that has so many potential bidders after the company or a slice of it. Do you agree?"

A lot of AIM oilers would attract more and better bids - it's because ANGS are on the edge that a bunch of chancers like SOU have tuned up. Onshore UK there is little choice TBH

there's nothing we can do about it so we have no choice..............

I was told some time ago that the problem with the FI is that it doesn't fit into a neat box for the bigger companies.

Locationwise it drops into S America - if you are there already you see it as dangerous place to meddle given S American politics . If you're not you forget it's not run by Caudillos and it gets forgotten.

What is needed is a medium sized company who can actually see the potential and get on with it.

Sound Energy plc is required either to announce a firm intention to make an offer for Angus Energy plc in accordance with Rule 2.7 of the Takeover Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Takeover Code applies.

Accordingly, it has been agreed that such announcement must now be made by not later than 5.00pm on the date being 28 days from the admission of the new Angus Energy plc shares to trading on AIM. This date is expected to be 11 March 2022 and will be confirmed

That's 400k OF SHARES = £ 36k of cash - institutions don't trade in such small numbers

And they normally require a Market Cap of £ 50 or £ 100 million to invest anyway.

Sorry - Rogers doesn't ever seem to have been a Director of Angus

https://www.angusenergy.co.uk/management/

he's not listed there and Companies House doesn't list Williams as a Director ever