Member Info for ocelot

Just to make the very obvious point:

one does not associate "a major player" or "a Major hydrocarbon producer and storage owner" with a market cap of about £55m, the upside potential is big.

Angus's ambitions have been stated very clearly:

the transformation of Angus from a small cap into a major player in the production and storage of hydrocarbons (GL);

to transform Angus into a Major hydrocarbon producer and storage owner, through organic growth and strategic acquisitions (Krzysztof Zielicki).

David Cox, an independent energy analyst, said that the UK was heading into a "very dangerous situation" this winter.

"The problem is we get about 40% of our electricity from gas-powered plants in the UK," he said.

https://www.bbc.co.uk/news/business-63118574.amp

Re dewatering:

they've said they are ready to undertake it immediately permission is granted;

Re the waste tip, this is what they said in the Half-year Report RNS of 31/08:

The Company is now engaged in an economic assessment of the Waste Tip and the formulation of a mining plan, which will lead to a formal planning application to commercially produce gold from the Waste Tip's estimated 4,000 tonnes of fines material.

Agreed, Jamesthesecond, it would provide ANGS with another, potentially significant onshore gas field and the time required to develop the field would actually fit in quite nicely with their plans.

George Lucan of Angus has said that Loxley is an attractive asset (and that the company is always interested in attractive assets at the right price).

FWIW, this morning, an answer to an Investor Question on their site re the Energy Levy reads as follows:

... Thereafter (after the first financial year following the introduction of the Levy) yes, we do intend to bring forward drilling wherever possible as we understand that 91 pence in every pound of E&P is paid for by the state. Principal targets are the southern lobe of Saltfleetby and at least one other onshore possibility.

volume of 77.4m.

Sorry, I had cut off the very last sentence of the answer!

We are awaiting a full report on the Energy Levy from our tax advisors. Our understanding is that the levy will apply to Angus but that in our first financial year capex incurred since the levy became active is such that little or no tax should be payable. Thereafter yes, we do intend to bring forward drilling wherever possible as we understand that 91 pence in every pound of E&P is paid for by the state. Principal targets are the southern lobe of Saltfleetby and at least one other onshore possibility.

Interesting. Note the very last sentence of the answer:
"Principal targets are the southern lobe of Saltfleetby and at least one other onshore possibility".

UK government recently announced new Investment Allowance/Tax relief

The new … Investment Allowance will mean businesses will overall get a 91 pence tax saving for every 1 pound they invest, the Treasury said.

can you confirm that ANGS will benefit from this as well, ie perhaps ANGS can get tax relief to recover the cost of sidetrack drilling and future operations? Asked on 2 October 2022

We are awaiting a full report on the Energy Levy from our tax advisors. Our understanding is that the levy will apply to Angus but that in our first financial year capex incurred since the levy became active is such that little or no tax should be payable. Thereafter yes, we do intend to bring forward drilling wherever possible as we understand that 91 pence in every pound of E&P is paid for by the state.

SFB is now producing at a stable flowrate, exceeding the hedge, and making a profit?
in addition to assumed production at brockham, is Angus now making money and profit for the first time in its history? Asked on 2 October 2022

Yes. We are already meeting and exceeding the current hedge profile and already paying down debt. With the sidetrack and 2nd compressor in place around the year end, the full year to September 2023 should show a company debt free and generating great profits for shareholders.

https://www.angusenergy.co.uk/media/investor-questions/

PS: another error in the article: it's not a matter of the appeal being heard, but of the decision being delivered.

... His appeal is expected to be heard any day now.

https://www.msn.com/en-gb/money/other/will-the-new-lord-lucan-strike-oil-in-sussex/ar-AA12toow?li=AAwnS0s

Ditching oilseed crops for peas, preparing to cut herds and splashing out on tractor gadgets. That’s what European farmers are doing to try to cope with a worsening fertilizer crisis.

The lengths they’re going to in order to apply less of the nutrients vital for growing staples like wheat and rapeseed highlights the continued threat the crunch poses to food output. Many of Europe’s fertilizer plants have closed as Russia’s war in Ukraine squeezes supplies of gas that nitrogen fertilizer is derived from.

Some farmers secured fertilizer for this year’s harvest before prices soared, but now face much bigger bills as they start planting for next year’s crop. Plus, high energy costs are making it more expensive to run tractors and dry grain, risking more food inflation ... (from Bloomberg)

The OPEC+ group of oil producers will consider cutting output by more than 1 million barrels a day when it meets in Vienna on Wednesday, according to delegates.

A larger-than-expected reduction would reflect the scale of concern that the global economy is slowing fast in the face of rapidly tightening monetary policy. A stronger dollar has also weighed on prices. A final decision on the size of the cuts won’t be made until ministers meet, the delegates said ...

https://www.bloomberg.com/news/articles/2022-10-02/opec-will-consider-output-cut-of-more-than-1-million-barrels?srnd=premium-europe&sref=Em01M8Hr

And how much of Saltfleetby did they own in 2019? And what was the price of natural gas in 2019?

Read the Times and the Sunday Times this weekend, so here are some observations:

imho, fracking will only be undertaken by companies ready to start straight away, because the likelihood is this government won't last very long;

on the basis of the most unfavourable poll, the Conservatives are looking at a total of 2 or 3 MPs if an election was held today;

about 20 Conservative MPs have already submitted letters to the 1922 committee requesting a change of leader;

scathing comments are everywhere. This was part of David Smith's piece in the business section of today's paper (p11):

"These are world-class levels of ineptitude (referring to Truss and Kwarteng's actions) ... we have seen a new administration revealed as a bunch of bungling amateurs. One (the Queen's funeral) was soft power. The other is daft power.

Before the chancellor's 'fiscal event' 9 days ago, I wrote that what the government saw as shock and awe could well turn out to be shockingly awful. As the economist Jonathan Portes put it, with the classic line from The Italian Job: 'You were only supposed to blow the bloody doors off' ...

... The fact that the shares are only the same price as they were in July 2019, before so much water under the bridge, suggests that recent stock market enthusiasm regarding George Lucan’s company is only at the foothills.

Hear, hear!

Russia’s state-controlled Gazprom PJSC suspended natural gas deliveries to Italy, escalating the energy crisis in Europe.

“As of today Gazprom is no longer delivering gas to Eni,” said a spokesman for Eni SpA, Italy’s largest oil company ...

Italy has sourced sufficient alternative supplies of gas from North Africa to make up for any shortfalls this winter if Russia were to cut off exports to the country, people familiar with the matter told Bloomberg last month. A boost of expected deliveries from Algeria and Egypt will be able to cover the remaining supplies that Italy was still getting from Russia, said the people ...

https://www.bloomberg.com/news/articles/2022-10-01/gazprom-won-t-deliver-any-russian-gas-to-italy-on-saturday-eni?sref=Em01M8Hr

Russia’s state-controlled Gazprom PJSC suspended natural gas deliveries to Italy, escalating the energy crisis in Europe.

“As of today Gazprom is no longer delivering gas to Eni,” said a spokesman for Eni SpA, Italy’s largest oil company ...

Italy has sourced sufficient alternative supplies of gas from North Africa to make up for any shortfalls this winter if Russia were to cut off exports to the country, people familiar with the matter told Bloomberg last month. A boost of expected deliveries from Algeria and Egypt will be able to cover the remaining supplies that Italy was still getting from Russia, said the people ...

https://www.bloomberg.com/news/articles/2022-10-01/gazprom-won-t-deliver-any-russian-gas-to-italy-on-saturday-eni?sref=Em01M8Hr