Member Info for ocelot

See page 49 of the revised CPR of 26/10/21:

https://www.angusenergy.co.uk/wp-content/uploads/2021/10/Angus-Energy-Saltfleetby-Reserves-Valuation-Report.pdf

In fact, GL's ambitions for Angus were also linked to risk-taking shareholders.

The influx of new shareholders today is likely to be most welcome to the company.

At one stage, GL spoke of the ambition for Angus "to get bigger" and to have a "larger aggregate shareholder basis".

The obvious way to achieve that is to issue shares in order to acquire other companies/assets.

If the market provides them with a stronger share price, then we might be looking at Angus seeking to accelerate their growth via acquisitions.

Update on Brockham Oil Field

The Company is pleased to announce that the Planning Committee of Surrey County Council today passed a resolution to approve the Company's plan to abandon the Kimmeridge layer and reperforate the Portland layer in well BRX4-Z subject only to a unilateral undertaking to secure a routing agreement on HGV movements.

Angus' existing Environment Agency permit requires minor variation to allow production from the Portland as opposed to the Kimmeridge in this well and the Company is in discussion with officers of the Agency in this regard. Following such variation the Company would proceed to reperforate at the earliest opportunity.

We expect to update the market on existing production from BRX2-Y now supported by water injection in the coming fortnight.

Yes, when, re Brockham, GL spoke of hoping for the high 100s, I understand that to mean, say, 175 bopd, not a multiple of 100.

Ranked 7th on the market for volume at the present.

Indeed, it looks as if the current share price level may represent the ground floor, with many getting off the lift having arrived from the basement and many getting on to ride higher.

https://drillordrop.com/2022/04/27/breaking-brockham-oil-production-plans-approved/

Lots of stock changing hands today. Volume of 72.1m so far.

Europe needs to find new sources of gas now in order to meet its energy demands this winter, energy expert Samuel Ciszuk from the ELS Anaylsis consultancy tells the BBC.

He says there's pressure on all EU countries to start increasing gas storage supplies in preparation for the colder months, when demand is higher.

"Going into the summer, everything is about stocking up."

"There have been orders going out from several governments to companies in their countries to buy as much as possible in order to fill their storages," he said. "Even including buying as much Russian gas as possible." ...

Good to see that things are progressing well at Saltfleetby, my spies tell me that the work rate of senior management is flat out!

... We have some 9 squads of welders, riggers and fitters supported by platers and a number of electrical specialists supporting tie in ...

Will this morning's RNS prompt any reaction from the 2 actively interested parties?

https://www.londonstockexchange.com/news-article/ANGS/update-on-installation-schedule-at-saltfleetby/15426558

... The work of dry commissioning has begun with the identification of key lines for initial hydrotesting and the development of programme for some 40 tests. All welds are visible so testing is of a relatively short duration ...

Bulgaria cut, too.

Russia will cut off the gas to Poland on Wednesday in a major escalation in the standoff between Moscow and Europe over energy supplies and the war in Ukraine ...

European gas prices surged as much as 17% as traders calculated the risk of other European countries being hit next ...

“The Polish example suggests that those buyers that will not accept the new mechanism or will not secure an exemption from it are likely to see their supplies cut as well if no payment has reached Gazprom’s account when it is due,” (Katja) Yafimava (senior research fellow at the Oxford Institute for Energy Studies) said ...

https://www.bloomberg.com/news/articles/2022-04-26/russia-halted-gas-supplies-to-poland-onet-pl-reports-l2gapmmd?sref=Em01M8Hr

from the BBC:

Russia will stop sending gas to Poland from tomorrow morning, the Polish state natural gas company PGNiG has said.

Gazprom justified the suspension under new payment rules announced on 31 March, under which “unfriendly countries” must pay for Russian gas in roubles. PGNiG has refused to pay in the Russian currency.

PGNiG relies on Gazprom for the majority of its gas imports.

However, the supply suspension will not create an immediate threat to supplies in Poland. PGNiG said its underground gas storage is almost 80% full and the summer is coming, so demand is lower ...

George Lucan presented Angus in an lse webinar this evening.

He mentioned the company's appeal re Balcombe and spoke of his hopes for 400 bopd.

maddog,

I understood that differently. GL said they were hoping for 400 bopd from Balcombe. Given Angus's 25% stake, that would be 100 bopd, similar to his (conservative) hopes for Brockham.

When the recording becomes available, I will need to listen that passage again.