Member Info for ocelot

Frisky this morning, 0.736p paid with the offer at 0.72p.

ZYX098,

As my quotations make clear, the only POTENTIALLY GAME CHANGING EXPLORATION PLAY envisaged by AME in 2023, because it is the only exploration play envisaged by AME in 2023, is Pinarova-1.

Thank you for your comments, passiton, I hadn't associated the trade with a spread better.

37m at 0.0695p at 17:07:47.

Seem to have assembled a management team of complementary talents.

Cash coming in soon will mean their balance sheet is going to look solid and under-leveraged.

Can see Angus commanding a premium rating and that, sooner than the market may anticipate.

Juxtaposing 2 extracts from AME's 2022 annual report (my capitals);

Chairman and CEO’s statement

In 2022 AME focused on consolidating production with a series of
production and appraisal wells, whilst drilling one exploration well
and gathering data for POTENTIALLY GAME CHANGING EXPLORATION PLAY which will be
executed in 2023. (ie Pinarova -1, see below: extract from p12)

The main exploration focus (this year) for exploration will
be on Resan. If the shallow play is successful here it will be followed by a second shallow well in the year ... (p15)

Volume back to pre-RNS level: 8.9m.

Surprising given that, following yesterday's RNS:

1/ We are expecting the well to clean up further which is likely to raise that flow rate in the future;

2/ we await production through a temporary connection.

"... Angus's vision of becoming a significant player in the aggregation, production and storage of gas, ...":

the ambition is re-stated;

"The Company is also pleased to announce the appointment of Tim Kaye as (non-board) Director of UK Operations":

They appear to have built up quite a team to realise their ambition.

Despite talk of the MMs, looks as if the market was left to its own devices today.

Tweet of 1:57 pm:

TURKEY DRILLING LATEST: Pinarova-1 casing is now cemented down to 287m in preparation for drilling. Installation of wellhead and blow-out preventer nearing completion. Drilling resumes on schedule in the next few days. https://tinyurl.com/2p97hmnm

of 42.6m so far.

This is good but very far from being outstanding.

Despite the significance of this morning's RNS, the session so far seems to have been one of, above all, "housekeeping", with some buying in or topping up, but more, presumably, traders, selling.

It is planned to drill cautiously through the Hoya target zone and to open-hole test any zones where good live oil shows are encountered ...

" ... If I was a betting lady I would expect even better left field news in the near future ??”

Would not be surprised if Lady of AIM proves right on this one.

Saltfleetby has taken considerably longer than management originally anticipated.

Saltfleetby was always intended to be the first step in the making of Angus.

The reinforcement of management in recent months suggests ANGS have been actively planning for the next steps in the growth of the company.

She was right about approaches having been made to Angus to buy Saltfleetby, so one takes note of her mention of "left field news".

You are entitled to your opinion, Crocqman.

Personally, I've always had the impression Angus was being managed with the aim of bringing IIs on board (at some stage).

The quicker they can get the share price to rise, the higher the likelihood that process will get underway.

GL has indicated in the past that a market cap of £100m may be required to bring some IIs on board.

We are not there yet. But we do have the profile of a company which is likely to be of interest to IIs.

Let's see. Maybe some of the more adventurous IIs specialising in smaller caps can begin to dip their toes in the water.

Congratulations to GL, the management team and all involved, both inside and outside Angus - mission (very largely) accomplished.

Think the focus will now shift, from an almost exclusive interest in Saltfleetby to wider considerations and management's initiatives for growth in the future.

PS: it also makes Angus a potentially interesting partner for UKOG, of course.

Angus Energy (AIM: ANGS) Angus is pleased to announce the completion of the initial clean up of the new B7T well at Saltfleetby ...

The well first produced on the 31st March and the Company has since been cleaning up drilling fluids via a temporary production system to a flare. This work has now concluded. The initial clean up ended with a multi-rate flow test last week.

Based on the results we have concluded that at present, the well is capable of 4-5 mmscfd at a FWHP of 30 barg flowing into the system with the two other wells. We are expecting the well to clean up further which is likely to raise that flow rate in the future ...

IF Angus is interested in the Loxley farm-out, this should bring their decision closer.

The wait for the inspector's decision on Loxley was soul-destroying: it went on for so long and nobody knew when the decision would be delivered.

There is no comparison with waiting for news from Pinarova-1.

Nobody is expecting to receive an RNS or tweet every working day but we do know the time-scale is relatively short and that a number of those involved sound pretty hopeful of positive developments.