Member Info for ocelot

GL spoke of seeking to grow in both conventional and alternative energy (my choice of words, not his) and of there being opportunities to buy from majors as they reconfigure their portfolios.
The ambition certainly seems to be there, to grow market cap and make of Angus a much more sizeable player in the energy sector.
Quite apart from what is scheduled for the near term, the long-term prospects look exciting.

Explanation for relatively low front month natural gas contract price:

LNG imports and lack of storage capacity in the UK which, on the other hand, "has a better ability than most EU nations to dock tankers and turn the liquefied fuel back into gas" ...

When facilities on the continent fill up, the LNG must go to markets like the U.K. and Spain, which have the most excess re-gasification capacity, according to (Trevor) Sikorski (head of natural gas and carbon research at Energy Aspects Ltd). “As it does so and hits exports limits, the prices go to a discount,” he said. (gleaned from a Bloomberg article of today)

On the rival site, the posters have managed to hoist Angus into the no.2 position amongst top share forums.

There's seems to be a bit of a melt-down taking place amongst anti-angus posters today.

All this talk of the sidetrack by those who are negative on ANGS is ... positive for shareholders, because it means they now accept that first gas will be achieved and are shifting their focus to the next subject to exploit.

Options are frequently used as a means of rewarding management and of aligning management's interests with those of shareholders.

To date, in UKOG's case, the share performance has not been there and, therefore, management has not gained anything via options.

WG818,

A sidetrack doesn't get drilled without the finance to drill it.

Because the company and its lenders decided to achieve first gas ... first.

If you go back through Investor Questions, you will probably find the subject has been discussed there in the past.

But management have been suffering, too, in that their options have not delivered, options which, in theory, can frequently put salaries in the shade.

The biggest question is why the company didn’t drill it during the previous 2 years knowing this??
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Didn't they need to obtain the debt facility first?

1. have the DSEAR Dangerous Substances and Explosive Atmospheres Regulations 2002 requirements been completed at Brockham?
2. will production from BRX2-Y resume at Brockham in May independent of the council decision regarding the portland perforations

Something else up their sleeve, from the 14/03 Final Results RNS:

Angus also contracted realtime seismic to carry out the reprocessing of our Saltfleetby 3D seismic dataset which was originally acquired in 1997 over a total area of 79.92km(2). This considerable reprocessing project was motivated by the perspective of using up-to-date techniques to improve the geological interpretability of the dataset. The final deliverable was a depth model validated by the fields well data. A focused proportion of this reprocessed seismic is currently undergoing interpretation by the technical team in order to provide an accurate representation of the sub-surface to aid in the successful design and drilling of the SF7V side-track.

Over subsequent months a more complete re-interpretation will take place over the whole field and in particular over the southern satellite reservoir with the aim of shaping a field development programme to convert some of the 12 BCF of 1C (the low estimate of) contingent resources into 1P (P90 or proven) reserves to supplement the existing 18 BCF of 1P reserves from the main Westphalian reservoir.

SillyButtons,

There is potentially more up their sleeve. I remain intrigued by this Investor Question of 08/11/21 and their brief answer:

When will the full remap images of Saltfleetby be available, and would you buy/lease further equipment to enhance production from other areas of the licence. Thankyou. Asked on 8 November 2021

We are waiting on input from partners on our interpretation and will update on that and discussions with neighbouring licence holders as soon as it is received.

Questions A and B of an Investor Question asked on 27/10/21 and the answers provided:

... So my questions are:

A What is the predicted output of Saltfleetby without the sidetrack being drilled? Will it be enough to cover the 5.4mmscfd of the hedge in November 2022?

B If the sidetrack is successfully drilled, what would you hope would be the total gas output of Saltfleetby mmscfd in a worst, probable and best case scenario? ...

A.The lenders technical advisers and Angus evaluated the deliverability of the existing two wells as being likely to be greater than 5 mmscfd. The reasoning was twofold. In the last years of delivery to the old Conoco refinery, average production was constrained by persistent issues with the main compressor at Theddlethorpe. Secondly it was the view of technical experts that, following a prolonged shut-in, the two wells should have improved deliverability in the first 18 months or so of operations. This is because prior to shut in there was an area of reduced pressure around the producing wells. Since then the pressure has equilibrated across the field resulting in significantly higher pressure around the producers. So it is our view that the hedged production should be able to be covered by these two wells in the event of failure of the sidetrack

B. Finger in the air: Worst 7mmscfd, Probable 10mmscfd, Best 10mmscfd (but extended for a longer period of time) Note, the combined deliverability of the three wells will exceed the production rate during the plateau period which is limited to 10mmscfd by virtue of the process equipment ...

UT of 350,000 shares to close at 0.21p, + 10.5%.

note: if 43% of households will struggle with energy costs, then it is many more than the poorest households who are affected (although, of course, the poorest will be the most vulnerable).

Britain’s cost-of-living squeeze is starting to bite into the spending power of most parts of the country, with 43% of those who pay energy bills saying they will struggle with the costs.

The same proportion said they will be unable to save over the next year as a result of a jump in household bills, the Office for National Statistics said Monday. The findings from the Opinions and Lifestyle Survey showed 87% of adults felt prices rising.

The findings underscore the scale of the hit to consumers from a jump in electricity and natural gas prices that has pushed up inflation across the economy to a 30-year high. The government is under pressure to provide more support to the poorest households ... (from Bloomberg)

Britain’s cost-of-living squeeze is starting to bite into the spending power of most parts of the country, with 43% of those who pay energy bills saying they will struggle with the costs.

The same proportion said they will be unable to save over the next year as a result of a jump in household bills, the Office for National Statistics said Monday. The findings from the Opinions and Lifestyle Survey showed 87% of adults felt prices rising.

The findings underscore the scale of the hit to consumers from a jump in electricity and natural gas prices that has pushed up inflation across the economy to a 30-year high. The government is under pressure to provide more support to the poorest households ... (from Bloomberg)

for volume of 5.5m (not 5.3m, (omitted the opening UT trade).

10 AIM trades so far, all blue, ie within the top half of the spread (for volume of 5.3m).

Long may it continue!

"18% of its diesel".