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https://drillordrop.com/2022/04/11/ineos-offers-uk-fracking-test-site/

Yesterday, the BBC carried an interview with a former adviser to Putin, now based in the US, stating that cutting off oil and gas purchases may be the only way to make Putin bring the war in Ukraine to a halt.
Think the EU may eventually find itself boxed in on this one.
If that was to happen, then would expect oil and gas prices to be ratcheted up substantially again.

Let's hope the above subject-title is as badly timed as that of CynderLad last year, informing us Turkey was off the day before UKOG informed us it was on.

Porter,

Think that the placing and the discussions may well be closely linked ... but not sure precisely how!

Following:
1/ the RNS on Friday stating that discussions continue "with two actively interested parties for part or all of our Licence interest at an asset level" and
2/this morning's placing to reinforce Angus's cash position,
it does look as if those discussions may be approaching a decisive stage.

This was the answer to the Investor Question asked on 03/02/22. Obviously, the same answer applies to this morning's placing.

With the placing to raise £1.4m, do you believe Angus are in a stronger position to negotiate a higher price for the sale of all or a part of Saltfleetby? Asked on 3 February 2022

Definitely. To have tried to negotiate with purchasers whilst simultaneously dealing with senior debt providers and having the financial stability of the company in any kind of doubt, would have been very counterproductive for shareholders in the short and long term.

The government has now missed its own deadline by two years for decisions on shale gas schemes in south Yorkshire and Cheshire.

https://drillordrop.com/2022/04/09/two-years-of-missed-government-deadlines-for-woodsetts-and-ellesmere-port-shale-gas-decisions/

There are all those warrants to be exercised between 1.20p and 1.50p, about £2m of them: their cash position could soon swing around quite dramatically.

Placing

Angus Energy Plc (AIM:ANGS) is pleased to announce that it has has raised, in aggregate, gross proceeds of GBP675,000 through the placing of 61,363,634 Ordinary Shares (the "Placing Shares") to certain investors at a price of 1.1 pence per share, conditional only on Admission.

If all goes to plan, Angus will be a debt-free company generating substantial cash flow by the end of the year.

If a deal is negotiated with one of the two actively interested parties for a percentage of Saltfleetby, then Angus will lose a part of its future cash flow but be compensated with (presumably) cash upfront.

What is not to like? That looks like a win-win to me.

The RNSs of yesterday seemed to provide an excuse for some to sell but, for myself, there was nothing in them to justify selling. On the contrary, the update re Saltfleetby was very positive.

Agreed, Ninetails, they give the impression of knowing there is likely to be a problem (if there isn't one already!) but not knowing what to do about it.

PS: historical precedent is there, the government should treat the nation's ability to brew a cup of tea with great respect!

As GL has said, the gas price is behaving like Bitcoin, volatility is such that any price cited with any precision is likely to be out of date within a couple of hours.

The front month closed at 224.50p yesterday, having peaked near 245p during the day.

If it was still the 1st April, I would have thought twice before posting my post of 10:29!

If it was still the 1st April, I would have thought twice before posting my post of 10:30!

From Citywire's round-up of the morning papers:

The Daily Telegraph: Kwasi Kwarteng has endorsed plans to charge households higher energy bills if they charge their phone or boil the kettle on a Friday evening, in a scramble to prepare Britain's creaking power network for the end of fossil fuels.

From Citywire's round-up of the morning papers:

The Daily Telegraph: Kwasi Kwarteng has endorsed plans to charge households higher energy bills if they charge their phone or boil the kettle on a Friday evening, in a scramble to prepare Britain's creaking power network for the end of fossil fuels.

Could today's Saltfleetby update act as a trigger for the 2 "actively interested parties" involved in discussions with Angus re Saltfleetby?

If yes, then each knows they are potentially in competition with another and may be tempted to land a knock-out blow.

... April being this month - the 26th is in 18 days time.