Member Info for ocelot

All systems go at Saltfleetby as Angus progress the commissioning of its blue riband project and despite some problems from delayed parts is now close to production. The company also announce the settlement of litigation and focus on operations and the strategic review and FSP.

With a number of indicated buyers in the data room to potentially acquire Angus one would imagine that one of them would put enough moolah down to secure Angus. The current situation will have made the company that much more attractive and of course there are a number who will have significant benefits from a merger with Angus.

With that in mind I would suspect that the current market price of Angus is still somewhat below what a successful offer might come in at, if not I hope that the board will consider remaining independent.

https://drillordrop.com/2022/03/10/go-ahead-for-waste-reinjection-at-angus-energys-brockham-oil-site/

The fact that the RNS provides indicative revenue figures for June and the sidetrack on the basis of current forward prices sets the bar quite high for potential bidders and suggests considerable confidence in Angus's position.

The Company is pleased to confirm that it is continuing due diligence with a number of parties under or alongside its Formal Sales Process.

Confirmation that the interested parties are no longer limited to those originally involved in the FSP.

Happy Birthday, nookie!

George Lucan, CEO, commented:

"The focus is now away from skid delivery to installation with the aim of having the site ready for commissioning during April and producing during May. The present gas price forward curve shows very high average prices of over 400 pence per therm for 2022.

In fact, gross production, of which we have a 51% share, solely from the existing wells and which is wholly unhedged for the month of June, is expected to yield 1.5 million therms or gross revenue of £7.2 million at today's forward price for that month alone.

Gross production solely from the side-track, should it be successful, is again wholly unhedged for the remainder of the year and is expected to yield a further 1.5 million therms each month of which Angus share is 51%.

The forward curve remains very high and seems likely to remain high this year and the company is more than anyone else acutely conscious of the need to preserve our timeline in order to provide value to shareholders whether through revenue sales or corporate action."

https://www.londonstockexchange.com/news-article/ANGS/update-on-saltfleetby-and-issue-of-equity/15361719

... with paper makers Norske Skog ASA and Pro-Gest SpA halting mills in Austria and Italy this week. Pro-Gest said that the selling price of a ton of paper was lower than the cost of the energy required to make it...

... with paper makers Norske Skog ASA and Pro-Gest SpA halting mills in Austria and Italy this week. Pro-Gest said that the selling price of a ton of paper was lower than the cost of the energy required to make it...

European industry is showing the first signs of shutting down as Russia’s invasion of Ukraine boosts energy costs for steelworks, fertilizer plants and paper mills to unsustainable levels.

The war in Ukraine, combined with sanctions and counter-threats from Russia, have upended commodities markets, pushing European gas prices to fresh records and triggering one of the biggest oil-supply shocks since World War II. That’s starting to throttle demand from smelters and other energy-intensive plants across the region, which were already struggling before Vladimir Putin unleashed his military machine.

“We are going into unexplored territory,” said Fabian Rønningen, an analyst at Rystad Energy. “The demand destruction could also be on another scale than we have seen previously.” ...

https://www.bloomberg.com/news/articles/2022-03-09/european-industry-starts-shutting-down-as-energy-prices-soar?srnd=premium-europe&sref=Em01M8Hr

European industry is showing the first signs of shutting down as Russia’s invasion of Ukraine boosts energy costs for steelworks, fertilizer plants and paper mills to unsustainable levels.

The war in Ukraine, combined with sanctions and counter-threats from Russia, have upended commodities markets, pushing European gas prices to fresh records and triggering one of the biggest oil-supply shocks since World War II. That’s starting to throttle demand from smelters and other energy-intensive plants across the region, which were already struggling before Vladimir Putin unleashed his military machine.

“We are going into unexplored territory,” said Fabian Rønningen, an analyst at Rystad Energy. “The demand destruction could also be on another scale than we have seen previously.” ...

https://www.bloomberg.com/news/articles/2022-03-09/european-industry-starts-shutting-down-as-energy-prices-soar?srnd=premium-europe&sref=Em01M8Hr

Pretty good volume today: 26.6m.

1bn volume.

We've had bigger trading days than this in the past, but it's still big volume.

A more positive attitude to the industry from government, the Basur-3s drill fast approaching, the Loxley appeal no longer far away from a decision, things do appear to be moving in UKOG's favour (at last!).

Ibug,

If kids' pocket money can raise the share price by 50%, let's have some more of it.

It was 433m for all of yesterday's session, which was already good.

I've got 240m on a rival site.

Not suggesting HH needs fracking, but it's an indication of how the government's attitude towards the industry is changing, which can only be positive for the future.

Acknowledgements to Taverham on the Angus board:

(Alliance News) - UK ministers were considering steps that could lead to a fracking rethink after committing to phasing out imports of Russian oil by the end of the year.

Prime Minister Boris Johnson said on Tuesday the move over Moscow's oil was an important "first step" to "punish" Vladimir Putin's invasion of Ukraine as substitute fuels are lined up.

Amid concerns over soaring energy costs, it was understood two Cuadrilla Resources Ltd sites in Lancashire may be handed over to the Royal Geographical Society rather than being concreted over.

Fracking, or hydraulic fracturing, has been under a "moratorium" for over two years, but the move could allow for the sites to be opened up at a later date.

Former Cabinet minister David Frost, who has been campaigning for the ban to be reversed, said it was a "sensible first step" from the government.

Robert Jenrick, a former communities secretary, called for a "more pragmatic energy policy" that would ease soaring bills while the UK strives to hit net zero.

"I personally was always a supporter of fracking, I don't think it's a quick fix, but I think we should be revisiting that question," he told BBC Newsnight.

As recently as Monday, Downing Street had denied suggestions the fracking moratorium could be lifted in response to the Ukraine crisis

In one session, it's gone through all the moving averages. The highest was the 200-day, at 0.137p.