Member Info for Mirasol

"During al of that time, they have not withdrawn from the discussions."

they're desperate it sounds like - must be a REAL lemon

From the RNS:_

"For further information please visit www.angusenergy.co.uk.

Angus Energy Plc

Carlos Fernandes

Finance Director Via Flagstaff"

VIA FLAGSTAFF - that suggests he's a Flagstaff employee Consultant ????

"The data clearly wrong though"

OTM - those numbers are in an RNS - signed off by the Finance Director - their NOMAD will also have crawled all over it. Getting it wrong in an RNS opens them to severe treatment, fines and possible bans unless they correct any error immediately.

I'm afraid you may have to admit you've been wrong about the vast earnings and cash in the bank.

Onetomany Premium Member Posted in: ANGS Posts: 1,612 RE: Production 1 Nov 2025 09:16

What has changed is the dramatic increase in revenue. This is a complete game changer and you will see a substantial rerating upon re-listing.

On second thoughts then they'd have the abandonment liability of course - no - they'll keep paying stooges at ANGS to run the field under their thumb. Anyone who thinks there is any future for the PI's is totally deluded.

"They already have security over Saltfleetby, they would still have the problem of managing the field in order to maximise production."

Hire a couple of managers - there are plenty of experienced people around who don't expect the payouts the ANGS Board pay themselves

"Lender can’t pull the plug so they will provide terms that get their money secured "

Absolutely - and that will leave very little for the shareholders

"as requested by Forum Energy Services Limited ("Forum"), Jonathan Tidswell-Pretorius was appointed as non-board Interim COO"

Sounds to me that JTS is or was Forum's man. With Trafigura now holding all the high cards he's not wanted on voyage and was handed the revolver and a glass of scotch.

19-Oct-25 0.1333 m cu. m

20-Oct-25 0.1408

21-Oct-25 0.1436

22-Oct-25 0.1338

23-Oct-25 0.1404

24-Oct-25 0.1460

25-Oct-25 0.1323

26-Oct-25 0.1402

27-Oct-25 0.1378

28-Oct-25 0.1492

29-Oct-25 0.1475

30-Oct-25 0.1458

31-Oct-25 0.1473

01-Nov-25 0.1477

30 day rolling average 0.1332 m cu. m

The numbers now clearly show that the production rates are fairly stable. The compressor and the other work mentioned in the RNS have increased production by approx 12% over the February 25 levels. NSTA August numbers confirm that they are producing more water - up 30% since February.

Further to the announcement of 11 July 2025, and as requested by Forum Energy Services Limited ("Forum"), Jonathan Tidswell-Pretorius was appointed as non-board Interim COO. After completing a review of the Company's operations, Jonathan Tidswell-Pretorius has resigned to pursue other interests. On behalf of the Company the Board wishes to thank him for his guidance and efforts during this time.

"Not sure what "as currently structured" means in the present context."

The hard numbers - who pays what to whom for what

They're been drilling long reach wells for years - it was really developed by Elf, the French stat owned oil company now part of Total over 40 years ago.

The longest horizontal well is ADNOC Drilling's well at the Upper Zakum concession in the UAE, which stretches for 15,240 meters (50,000 feet = 9.47 miles).

" getting idiotic and entirely wrong reports of an 'oil glut' "

Well you can use CHATGP - or you can listen to Shell and the other majors who are cutting exploration to the bone and looking to pick up smaller companies going bust in the next 2 years instead. Read the Shell's CEO interview last week.

" drill with a 40% COS "

That's not of being a COMMERCIAL success- it's the chance of finding a skim of oil on the mud pit

"why don’t you do some research and try calculate their expenditure since April. "

Wouldn't it be nice if the Company updated us on that?

Or even gave the figures to one of their creatures on here?

But I guess they're still working on the RTO...................

Just to jog a memory or two

"And the revenue figures, Mirasol?"

An excellent question - when can we expect them from the Company Ocelot?

"Q is, what is 40% of Wressle licences worth to Egdon at this moment in time."

Egdon's main source of income by a country mile. More important, it 's important to their owners HEYCo. As a private company information is sparse and pretty much non-existent about their domestic production but their other international gas production is Spain seems to have been shut in for 6 months until a few weeks back due to some contractor/kit issues. Now back on plateau production according to their partners but Wressle is clearly important

"How long will it take the company to announce progress with some of its many other initiatives?2

They've ANNOUNCED many things over the years but they've achieved almost ZERO

"VL surely egdon will simply wait until UJO defaults on its obligation to pay millions in capex for Penystone and get it for free?"

They can only do that if UJO don't conform to certain Joint Operating Agreement provisions - or they go bust.

I don't think the JOA is public but normally a default that triggers loss of interest is:-

a) Inability to meet the legal obligations to the NSTA/Govt on work programmes relating to the Licence

b) Failure to meet approved Budgets , Cash calls or AFEs- but UJO may be able to block any agreement on expenditure on the other reservoirs. All depends on the pass-mark. Egdon only have 35% which is quite low for an Operator these days. It may require a majority , or 60% or something like 60% AND two partners in favour. They vary a lot

"NAV approx 20p per share so I do not think ujo will fall much more.gl."

That of course is a Company/Accounting valuation. If you think anyone would pay HALF that for the odds and ends here you're crazy. When was the last significant deal onshore UK? And there is the abandonment liabilities of course - watch the cash - that's all you can depend on.