Member Info for ocelot

02/03/21 was the date of the rejection of the Balcombe ewt application, so 2 1/2 months ago and 20 months after the Brockham RNS of 28/06/19.

My post related to Balcombe where Angus applied for an ewt relatively recently, not Brockham.

It may be over for you, cyan2, but it's not necessarily over for others - we await to see whether Angus appeal against WSCC's planning committee's refusal of their ewt application at Balcombe.

HH has failed to meet expectations.
They are seeking to advance Clogau as quickly as possible and have made very considerable progress since the end of the 1st lockdown.
In Greenland, they have in mind joint venture partners but seek to ensure a full valuation of what they have, hence plans to increase the size of the resource at TBS and prove up the Amitsoq part of the resource at Amitsoq.

Very quiet, even less selling than there is buying.

The final hedging won’t be put in place until we are closer to precise supply dates, ...

So when, in yesterday's RNS, GL speaks of "setting the hedge", he is referring to detailed agreement on the guidelines to be followed in determining the final hedging.

The Investor Question in question was asked on 27/01/21 and concludes as follows:

... Outside of that likely requirement, generally speaking, companies who have tried to speculate outside of hedging defined production have tended to go spectacularly wrong more often than right in much the same way that in gambling, on average, the punter loses and the House wins. Nonetheless our advisers at Aleph are exploring dynamic hedging strategies which would also allow some opportunistic fixing of future prices during the sorts of tight price environments which we have recently witnessed.

Thank you for that, WG818.

When GL speaks of "the setting of the hedge", I'm not sure he's referring to a set price, I think he may be referring to the % of production to be hedged.

In fact, that doesn't make sense, because futures prices change all the time.

The hedging price will depend on futures prices when they come to hedge.

Angus have RNS’d the 30p Hedge figure ...
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WG818, I have no memory of that, can you cite the date of the RNS, pls?

Many thanks, Noobz.

Noobz,

Thank you. Effectively, when I try to open the file a message comes up "this may damage your computer", so I'm going to take your word on this.

Been active on this board since the Brockham RNS of 28/06/19.

In that time, ANGS has come a long way in terms of its business and its prospects.

Imho, it's just a matter of time before the share price begins to catch up with what has been achieved to date and to reflect the company's future prospects.

Application submitted for bespoke water discharge permit to allow lower workings in the Llechfraith Shaft to be dewatered in order to undertake underground drilling and bulk sampling directly from that zone. (RNS of 02/02/21)

cyan2,

I can't imagine anybody has any objection to reasoned criticism, especially if it is expressed in a constructive spirit.

With Saltfleetby now funded and ready to go investors can now have decent visibility to first gas in Q4 2021, it wasn’t always this good looking. George Lucan and his team have delivered operationally and now financially and the shares should soon start to move up ahead of first gas.

It's de-risked financially, the remaining risks are essentially technical in nature.

Think the re-rating could begin any time.

From the RNS of 30/11/20 announcing the MOU with Aleph:

George Lucan, Angus CEO, comments: "We believe that these terms potentially represent a great result for shareholders in a difficult time for fundraising for any hydrocarbon project. Saltfleetby is a considerable opportunity with, according to the CPR of 4 March 2020, the potential to deliver between GBP75 million (P90) and GBP250 million (P10) of gross revenues to all parties over its remaining life.

It's quite a validation of ANGS's cash flow forecasts and of the project as a whole that the lenders support ANGS's decision to drill the third production well at Saltfleetby before reconnecting the two existing gas wells.