Member Info for ocelot

Management has been unable to buy stock since at least 12/07, the date of KZ's interview (available on their twitter feed).

We await news concerning one or more external growth initiative(s).

"I'm also very pleased to see the increased interest for our projects and in our ambition to set-up a European vertically integrated production of graphite active anode material - both from governments and also, increasingly, from potential off-takers. Thanks to our shareholders for your support - we will continue to work hard to grow and unlock the value of our graphite and anode material projects."

Https://www.londonstockexchange.com/news-article/GROC/interim-results-for-the-six-months-to-31-may-2024/16617275

Zero is an improvement on a negative number.

Let's see whether they decide to undertake further work at Brockham.

"An LOS written by anyone posting on this board would be just as ‘valuable".

But who amongst posters on this board are in a position to deliver in the same way as Sumitomo Corp, SGN and/or RWE?

"... and Brockham will do well to break even FACT !!"

That is precisely what Angus themselves have said, that Brockham has ceased to be the source of a loss weighing on the company's figures.

KZ spoke of EBITDA coming in around £15m.

He mentioned Brockham giving them an extra £1m of revenue, probably a little more.

They were waiting until the end of July before taking a decision about any further work at Brockham.

In his interview of 12/07 (available on Angus's twitter feed), KZ certainly spoke of accelerating the rate of extraction from the field. From 07:33:

" ... if you look at the forward prices of those reserves, you're talking about £200m or £300m worth of gas in the ground. Now, we need to get it out faster, .."

Also, from 04:50, he said:

"We are looking at re-starting an existing old well which is not in production at the moment, which would increase our production quite dramatically".

And, from 09:13:

"We have to grow our production ... The reserves will last another 40 years if we carry on the way we are going, but we will need to do that much faster ..."

Then he mentions: 1/ the booster compressor; 2/ re-activating an old well; 3/ drilling more wells.

Because it is UKEn which is the party to the agreement to lease?

In return for an annual ground rent, a future gas throughput tariff and related LNG vessel berthing charges, the A2L conveys to UKEn the exclusive right to proceed with the development and enter into a 30-year lease should certain conditions be met to UKEn's satisfaction (namely: final property due diligence, planning and regulatory permits, sufficient development finance and the site being free from significant contamination).

The A2L contains agreed forms of the Lease and Operating Agreements and contains a longstop date which, unless otherwise agreed, will allow UKEn to terminate if the conditions have not been met within 4 years of the effective date. The lease also grants UKEn the discretionary right at 5-yearly intervals to continue or break the lease. At the end of the initial lease UKEn has the discretionary right to extend the lease for a further 30-year lease period on the same terms. The aggregate total ground rent payable by UKEn up to the A2L longstop date is approximately GBP0.9 million. (RNS of 30/05/22)

PS: if you want to make comments like that, it is best to avoid mentioning anyone by name.

Maidit308,

I've just reported your post.

Going back into KZ's interview of 12/07, he answers a question about the refinancing from 01:21:

" ... I'm only aware of 3 AIM-listed companies getting high levels of refinancing in place, so we've really done extremely well, refinancing".

Trafigura did their due diligence and extended a facility of £20m to Angus over a 5-year term.

That constitutes a major expression of confidence in management and in the company's prospects.

Correction:

I've just gone back into Angus's last interview, that with Krzys Zielicki of 12/07 (NOT 12/08)

Disclaimer: I'm not an engineer, I'm not a person who can respond to questions of a technical nature.

I've just gone back into Angus's last interview, that with Krzys Zielicki of 12/08. From 05:02, he describes the compressor as "... basically, 1 more pump, it will just suck up even more gas".

Approval has been given in just five months under the regulator Ofgem’s fast track process.

https://www.bbc.co.uk/news/articles/clynlkjp5m1o

Can't do any harm that Blencowe Resources have begun a series of short videos on graphite (see the left-hand margin of this page)

Angus is a gas producer, the UK's biggest onshore producer by a wide margin. Gas prices are quite important for a gas producer. Gas prices have become ever more international with Europe finding itself in competition with SE Asia for LNG deliveries.

"Russian gas jitters engulf Europe's fear-driven market", article published earlier today by Bloomberg.

" ... the watch for jolts such as the sudden cessation of flows will only intensify in the coming months, both with developments on the front line and as the expiration of the transit deal nears".

UK natural gas futures have surged past 100 pence per therm, reaching their highest level in eight months due to significant outages in the UK Continental Shelf. Production in this area has been disrupted by multiple factors: the Bacton Seal terminal's outage has been extended until August 13, Bacton Perenco has cut its supply by 10 million cubic meters per day, and the Cygnus field is reducing output by 6 million cubic meters daily. Additionally, the St Fergus Mobil terminal will be closed from August 18 to September 24. Meanwhile, Dutch TTF gas prices have also risen due to concerns over gas supplies through Ukraine. The risk of military operations in the Sudzha region is exacerbating this issue, especially following Ukraine’s recent incursion into Russia’s Kursk region, which threatens a vital gas transit point. Despite Europe’s efforts to diversify its energy sources, countries like Austria and Slovakia still rely on Russian gas transported via Ukraine.

https://tradingeconomics.com/commodity/uk-natural-gas

UK ENERGY STORAGE: Further negotiations are planned with Govt and prospective major partners after we hit a hydrogen hat-trick as RWE joined Sumitomo and SGN in support of UKEn’s storage projects.

The 2nd relates to the results of the retail offer.