Member Info for noelpbz

HITS - I don't see why ALEPH and partners would not have taken up the additional 273M shares at the subscription price of 1.09 p. (unlocked). If not then I'll buy and sell on the same day (2 days to clear monies).
One can only assume the "partners" have shared the 273M shares, with none over 3%.

From RNS "Subscription (to ALEPH group and other investors):?- 546M @ 1.09p (unlocked) - two lots of 273M" slightly paraphrasing.

Bensherb - thank you - you’ve also given me some numbers to reconcile - should keep me busy. Thanks again anyway.

does anyone know the deal on what we get paid for the gas - is it an average of the first 5 days of the month, OR last 5 days - or what ???

It strikes me that GL does not have the confidence in his own predictions, - OR maybe he has learnt from previous forecasts from his “experts” - regarding the NONE installation of the second Gas Compressor (actually ordered), - although one assumes all engineering pipe work connections have been made and pressure tested upto actual termination points, - which makes it a slot in (minimal lost time).

Possibly agreement is payment on installation and he just didn’t have the money at that time, ??, then that “business acumen” kicks in.
Money now available??.

BV - compliments of 3put ;

https://uk.advfn.com/cmn/fbb/thread.php3?id=46853363&from=24198#firstpost

I agree with comments that production will greater than forecast -on production GL has determined 1.5M Therms from wellheads SF2 & SF4 and 1.5M therms from the sidetrack SF7 - a bit too precise - which leads me to believe actual anticipated output is higher for both but throttled back to the levels forecast, (Site capacity).
This should assist to maintain well head pressure, a necessary monthly report feature - maybe, we will see.

News on that 2nd compression awaited. (Gas Compressors Ltd, Kent)

HITS - I apologise - - I have re read your hypothesis this morning and can find nothing incorrect. (original opinion influenced by red wine)
However I have realised why GL suggests the sidetrack is unhedged - 52.125Mtherms/36 months is 1.45Mtherms average.
Again humble apologies.

HITS. - I am amazed at your patience - after reading earlier posts I would have thrown the towel in.
I do however have some issue with some of the calculations - MINOR I admit but maybe time to check the calculator batteries.

Caravanboy -- choose your own average and multiply by the HITS numbers.

https://www.barchart.com/futures/quotes/NF*0/futures-prices

Assuming a gas price of £2/therm from Oct 22 then at 1.5Mtherms/month worst case, Angus gross income is £3M/month.

Between Oct 22 to end Mar23 Mercuria monthly hedged income will be 1.75M x £1.4795 (£2 minus hedge value 0.5205p) - IE £2.59M.
Between Apr23 to end of June 23 Mercuria hedged income will be 1.75M x £1.6245 ( £2 minus hedge value 0.3755P) - IE £2.84M.

In that 9months Mercuria receive £24.6M and Angus £2.4M. - not quite enough to cover total overheads - however Angus also have a further income of condensate sales at c £50 barrel.

I have tried to extrapolate condensate barrels/day from the CPR but failed miserably coming up with some ridiculously high numbers - an expert needed to advise.

HH. - suggested reading for info — -https://www.angusenergy.co.uk/wp-content/uploads/2021/10/Angus-Energy-Saltfleetby-Reserves-Valuation-Report.pdf

Sharebel. - I wish I had that effect - I’d be IN and Out like a yo-yo daily.

May 22 Share issue:??
Acquisition (to SEL):
-? 91M @ 1.09p (unlocked)
-546M @ 1.20p (LOCKED)
??Subscription (to ALEPH):
?- 546M @ 1.09p (unlocked) - two lots of 273M
??Lender shares (to Mercuria):
?- 5M (unlocked)

??Total share issue:? 91M +546M + 546M + 5 M = 1.188B
?Plus existing 1.37B = 2.558B in issue.

Then the warrant of Subscription Shares of a further 173.1M shares at 1.1p exercisable over the next 5years. (two lots of 86.55M shares).??Grand total 2.558B + 173M = 2.731B in issue eventually.

Plus a further possible 682,438,000 Ordinary Shares at GM on 13 June 2022 - Possible total becomes 3.4Billion.

The FIRST scheduled repayment (£1.5M) of the Mercuria £12M Loan is due Sept22 - will SEL come up with their share or is Angus lumbered with the lot.

HITS. - The £12M Mercuria loan interest rate is 12% over Libor rate (approx 3%) - so c15% - ie £1.8M per annum, which is now the sole responsibility of Angus - (not 51% as was).

The loan was taken out on the 17th May 2021 - the debt could therefore be currently £13.8M. Presumably the interest payment of £1.8M for the first twelve months has been paid. (SELs’ 49% at £0.882M).

Angus responsible hereafter.

Isn’t that £14M sale more like a £20M sale ??

HITS - PRESUMABLY Angus bought £6M of debt as well.

Yes you too Hits - re the OPEX whatever it is with Angus ( I am more familiar with bigger oil production bopds) lets not forget that when you DOUBLE production you HALF the OPEX

Apologies ( as Noted by Ocelot ) -Angus share 80 % - therefore gross annual revenue USD1.6M = £1.2M

Excellent news on Brockham : "Current average rates of produc??on from the BRX2-Y well are 50 barrels of oil per day with an approximately equal amount of forma??on water produced and reinjected daily into BRX3. Presently the site now has over 400 barrels stored for sale"

Gross Income USD2M = £1.5M - a substantial contribution to the main Overhead/total Opex.

They should have enough capacity for a further 8days production before shut down.
Storage capacity excl. slops 604,478 bbls (96,112 m3) in 11 Cargo storage tanks (98%).
Detail from :
HTTPS://www.bluewater.com/wp-content/uploads/2021/03/BLW_FPSO_AokaMizu_leaflet.pdf