Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
For those who are interested... Not sure if this has been shared already.
https://www.rigzone.com/news/oil_gas/a/18908/roc_oil_sells_saltfleetby_gas_field/
Also, if the image used in the presentation portrays the acquisition in question, someone posted an article where the same image was used with reference to saltfleetby.
BigTen4 - Your post on WDC on Thursday at 13:15 would suggest otherwise...
"I just have 2M shares here at ave 0.35p
Dumped by ANGS at a big loss ,so hopefully here I might regain the loss and then some"
I personally have no issues with negative posts from individuals as long as they are constructive and carry some substance. To keep posting on the board saying that the price is going to drop etc... (Especially if you are not invested here) with absolutely no substance would insinuate that your agenda is to try and drive the price down further IMO. That applies to anyone doing the above...
It almost seems as though they are stalling Brockham until acquisition is finalised and released. I believe they may do this to try and bolster the SP as a contingency to any unexpected surprises with Brockham. Would not be surprised if we saw news on the acquisition before Brockham. Either way, its still better to air on the side of caution, as always with AIM, expect the worst, hope for the best. GLA
RealAnalyst - Please refer to 15:00 on wards of the interview. His exact words were:
'Work scheduled there for the autumn'
https://youtu.be/iINmGTaAg6A
Could you share where you read/heard 'August/September' from please?
RealAnalyst - In the latest interview GL confirmed that we should receive an operations update for Balcombe (similar to the one we received for Brockham) in June with work being scheduled to take place in the Autumn.
Throughout the last 2 interviews it would appear as though more attention is being drawn to the acquisition as opposed to Brockham which indicates to me that they are preparing us for the worst with Brockham, or 'managing our expectations'. That is not to say that Brockham will not flow, it just seems as though it is being downplayed slightly IMO
Only £1.2m of the placing will be put towards bringing the asset back into production.
Slide 25 of presentation - http://www.angusenergy.co.uk/wp-content/uploads/2019/05/AE-Investor-Presentation-April-2019.pdf
Furthermore, there will also be a payout of £2m to Angus upon completion of the deal which can also be used immediately to initiate production (as mentioned by GL in the interview).
'This is not an exploration project, these were producing fields, a producing field with 7 sunk wells, cost paid, just capped up for the moment. All we have to do is reconnect the thing and keep it working'
From 5:15 - https://youtu.be/Pr5y5930hDU?t=315
Sounds simple enough lol...
scallywag3 - I was just breaking doing the same math but couldn't land on a definitive price for Gas. Your calculations look logical though. Also, if this goes through we will have in excess of £5m in the bank which should hopefully see us through to either production at either new gas plant or Balcombe... Assuming the above is correct, an mcap of £20m would be ludicrous...
Also, I wouldn't abandoned the thought of Brockham coming good just yet... Appreciate that the interview did not instill much hope but it could still surprise us all. Looking forward to the updates in the coming weeks.
Circling back to Brockham... Is it safe to say that the interview confirmed that we have not yet order the well test equipment and are still awaiting the 'analysis' to take place before doing so?
If so, should we expect an RNS confirming the outcome of the analysis and confirmation that the test equipment has been ordered?
E_AL - Not insinuating they have encountered any major issues, we are now at a stage where there should be more clarity than ambiguity. All it takes is concise messaging...
"Stage 2 has now been initiated and the well test has been ordered in line with the schedule, we anticipate that this will take 18 days as opposed to the original 14 days proposed in the original plan. This is due to availability."
Multi million pound AIM listed company, BOD receiving a significant salary... Don't think its too much to ask for a bit more clarity with their messaging to the share holders?
Initial presentation: 3rd April 2019 - Page 10 -
"Immediately after the completion of the events above the rig will be demobilised and the well-test kit will be ordered for
delivery to the Brockham site. This is expected to take approximately 14 days"
http://www.angusenergy.co.uk/wp-content/uploads/2019/04/Angus-BROCKHAM-WORK-PROGRAMME.pdf
New Presentation: 15th May 2019 - Page 10:
'Immediately after the completion of the events above the rig will be demobilised and the well-test kit will be ordered for
delivery to the Brockham site. This is expected to take approximately 18 days.'
http://www.angusenergy.co.uk/wp-content/uploads/2019/05/AE-Investor-Presentation-April-2019.pdf
Seeing as they bothered to modify the dates, can we expect this to be confirmation that the well-test kit has now been ordered? Sigh...
Assuming that for some strange reason, they accounted the time as working days (even though its for a delivery)...
Based on the previous presentation - Flow Test & Production Results was supposed to be 11-16 Days based on the original schedule
Based on the new presentation - Primary flow testing is estimated to last 14 to 21 days followed by longer term production testing if applicable
Am I missing something here?
So they are running behind schedule...
'Following rig demobilisation well testing / production equipment is scheduled within 3 weeks (minimum) due
to equipment availability.
Installation and commissioning of production equipment to last a maximum of approximately 10 days.
Primary flow testing is estimated to last 14 to 21 days followed by longer term production testing if applicable.'
Page 11 - http://www.angusenergy.co.uk/wp-content/uploads/2019/05/AE-Investor-Presentation-April-2019.pdf