Member Info for noelpbz

I too agree with Skeletor - it could be an early unexpected 2025 bonus - which may require some substantial capital investment - leaving a reduced available sum for distribution. I hope so.

I promise I have gone back to sleep

Sorry - I have re read the RNS - HITS is correct re royalty.

I think we can accept that the 8% royalty will NOT kick in until AUG 25 - as the senior debt has been transferred Trafigura, who I am sure will run it to expected termination.

Aug 25 is of course when the 4th well will be up and running and probably contributing a greater amount of production - leaving only the first 3 wells under the royalty payment, (probably much reduced output than current).

46.55pence /therm from the hedge - all else at market rate.

I think NANO might be having second thoughts on that distribution - which is OK by me - the MOST important number is the SP.

Assuming they throw more money into R and D and broaden the client base and bring on the South Asian client along with others with ORDERS - maybe in 2024 - then the SP could be nearer 40p !!

Alright - accepted - £30m less £5M + £6.7M +£5M (Forrest) still leaves £13.3M - maybe just enough for Booster compressor and some drilling - FORGET the divedend !!

Re Forrest repayment (SEL) from RNS 24TH MAY 22 VIZ;

·” up to £6,250,000 deferred consideration to be paid in instalments from net cash payments to Angus Energy from the Project through to 31 March 2025 “

So presumably the Forrest debt is more than 2/3rds paid by now.

Ocelot - OK less £11.7M - still enough

Taking Singhies current figures it looks like ANGS will gross £16M for the year 2024 - Less say £6M annual total OPEX leaves £10M as a lump sum to add to the refinancing deal of £20M.

The first year of the refinancing has “an initial repayment holiday of 12 months” - so available cash will be £30M.

Enough for booster compressor and further drilling (although why they have chosen the worst weather months to do this is somewhat odd).

And who knows (putting the Forrest repayment into 2025) maybe a 0.1pence dividend payment.

OP - mcm to cf X 35.3147

O,2101 is in Million cubic metres

Without a tender offer Major SHs could find themselves meeting a take over requirement.

BP. -

From SINGHIE - https://data.nationalgas.com/find-gas-data

Refresh the page (Important) - and enter Saltfleetby (must be capital S) - enter and choose “system entry volume, Saltfleetby D + 1”. Then modify date range.

Choose “reports” then “NTS physical entry” then “System Entry Volume”

TheN “View Data”. ——— BINGO !!

May be Ross Pearson is BP and he has acquired 25M shares.

Taking JD-Nau’s figures for nett income for 2023 - £14M - and assuming a repeat for 2024 - this will give a total nett income of £34m (£20m global refinancing + £14M) for Angus in 2024. ( plus anything left over from 2023).

Less £5m and £6.7m (senior debt and bridge debt) leaves total pot at ~ £22m.

Enough to support the next drill - improve SF7 - pay some amount to Forum Energy - and pay £4.2M dividend (0.1p/share).

Unfortunately that Global refinancing debt will stand at ~ £23M at 2024 year end after the repayment holiday. Repayments will need to run at ~ £7.5M/yeqr thereafter.

Incidentally - as a total aside - why are Mercuria Hedge payments to Angus always down to 4 Decimal places ?? What that all about ??

The hedge contract is Financial - ANGUS will NOT buy gas - they just come up with the money.

K - I’ve also realised that the Samsung settlement is for £59m and our MC is for exactly the same at £59M. Doesn’t leave much for the current valuation.

K - you may right , I am not convinced, - we will know for sure if they announce a dividend and the share price moves.

Matt - correct - but the buyback/dividend is using money that is currently not included as an asset.