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Revenues are going to be considerably more substantial and with canny hedging and treatment of costs will provide substantial profit given the forward curve and the change in the gas market that has happened recently and in my view is a long term thing. George Lucan comments on domestic gas supply and Angus is a senior player in this market and its importance is more than significant, it should be observed by Government as a leading company who can deliver gas for the United Kingdom. (from Malcy's comments)

Volume of 9.1m so far - with each session, the remaining sells at this level are being absorbed.

Good post, Peterashbeck, appreciated.

The crisis in the U.K. energy retail market will add about 100 pounds ($138) to the bill of every home, Centrica Plc Chief Executive Officer Chris O’Shea said Tuesday.

Surging gas and power prices in the country forced 14 suppliers, serving more than 2 million customers, out of business since August. When new suppliers take on those accounts, some of the costs are spread around to everyone. The extra 100 pounds that consumers now pay could double as more suppliers go out of business, O’Shea said.

“There’s a systemic risk in terms of participation in the energy retail market,” O’Shea said at a meeting of the Industry and Regulators Committee at the House of Lords.

Centrica’s British Gas business, one of the biggest energy suppliers in the U.K., has added thousands of those stranded customers... (from Bloomberg)

The crisis in the U.K. energy retail market will add about 100 pounds ($138) to the bill of every home, Centrica Plc Chief Executive Officer Chris O’Shea said Tuesday.

Surging gas and power prices in the country forced 14 suppliers, serving more than 2 million customers, out of business since August. When new suppliers take on those accounts, some of the costs are spread around to everyone. The extra 100 pounds that consumers now pay could double as more suppliers go out of business, O’Shea said.

“There’s a systemic risk in terms of participation in the energy retail market,” O’Shea said at a meeting of the Industry and Regulators Committee at the House of Lords.

Centrica’s British Gas business, one of the biggest energy suppliers in the U.K., has added thousands of those stranded customers... (from Bloomberg)

When the first CPR was announced, volume on the day was about 200m shares, so we are way down on that level.

To be honest, not sure why we are so way down so far today, given that today's news is very positive for the project which is much closer to realisation.

Angus's new CPR doesn't just reflect the sharp rise in the price of gas futures, it also integrates the effects of their £12m debt facility.

... What does come out of the report, and clearly while not unexpected is the value that Angus have here with Saltfleetby and that for whatever reasons the investment of time and money by the current management team is wholly justified.

Revenues are going to be considerably more substantial and with canny hedging and treatment of costs will provide substantial profit given the forward curve and the change in the gas market that has happened recently and in my view is a long term thing. George Lucan comments on domestic gas supply and Angus is a senior player in this market and its importance is more than significant, it should be observed by Government as a leading company who can deliver gas for the United Kingdom.

OIL has a Reasonable Expectation (5) of First Gas on or before 15th March 2022 (6)

(6) The Operator is targeting 14th February 2022, and OIL is being more cautious in its schedule
assumptions

See page 25 for outstanding permissions and approvals

Page 47: AEWB Ring Fenced Losses Carried Forward 30/9/2021 GB £m £16.92

Page 49: hedged prices, volumes

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

They delivered on the £12m debt facility.

You may be right, Yanis, but the result is the same.

It is behaving as if it is being shorted, but not by retail investors. If an operator is shorting it, then that raises the possibility of a squeeze and a sharp upward rerating.

Retail investors may not be able to short Angus, but the stock is behaving as if it is being shorted. One of the tricks of shorters is to try to stop a stock from rising on good news.

Angus produced an updated CPR of their Saltfleetby project this morning.

This comment on the gas market by George Lucan is of relevance to Loxley, too:

Regardless of near-term fluctuations in the gas price, the higher forward gas price curve from mid 2022 onwards, which is reflected in this CPR valuation, is the result of structural gas supply-demand imbalances which, whilst only brought to light recently, are likely to favour producers for many years to come and highlight the national importance of this domestic gas supply."

Too early in the day to judge. Still some selling at this level, hopefully won't take much to absorb it.

6.3m traded in the first 30 minutes.

Furthermore, conscious of the great importance of this operation to shareholders, we have engaged a group of supporting contractors to advise on each element of the drilling programme. They include a new Wells Manager, a mud and drilling fluid specialist, a rig evaluation specialist, the drilling engineering house, Netherlands based Wellspec, to advise on managed pressure environments, and a third party review of our drilling programme by renowned Aberdeen house, Norwell Engineering:

Moreover, the drilling programme has been reviewed by the senior lenders' own upstream technical committee composed of a variety of industry professionals.

In summary the Report estimates production giving rise to gross field revenues, before costs etc on a mid-case basis of GBP230 million (previously GBP141 million) of which Angus's share is 51%. This approximates to a gas price of 64p/therm being a mix of the actual volumes already hedged at 43p/therm and the remaining unhedged volumes accorded prices derived from the quoted and traded NBP forward curve to December 2026 and thereafter escalated by 1.5% per annum. The gross volume of reported Gas Reserves is unchanged.

Good question, to which the answer is far from self-evident.

Good volume today, 272.5m -why?

$1,808.25.

We have seen in the past that Alba's share price can respond very quickly to significant movements in the price of gold.