Member Info for ocelot

UKOG ... have ended up being in the position of having several potentially cash +ve projects, but no cash to do anything.
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True.

It's true, the share price does not currently seem to be anticipating a favourable Balcombe decision.

... the proposed GBP12 million Loan Facility has soft commitments and Mandate "best effort" commitments of approximately GBP20 million in aggregate (3rd RNS of 22/02).

The debt facility has taken longer than anticipated and, unsurprisingly, has had knock-on effects on Saltfleetby's timetable.

But ANGS had already missed out on this Winter's natural gas prices.

Looking forward to the next answers to Investor Questions, to the Balcombe planning committee meeting of 02/03 and to the webinar of 04/03 - there is a lot going on.

Sorry, think my screen may have frozen: $67.20 15 mins ago.

it doesn't do any harm.

Brent $66.60 about 10 mins ago.

5th slide of the presentation:

https://www.angusenergy.co.uk/wp-content/uploads/2021/02/Angus-Presentation-to-Shareholders-Feb-2021.pdf

• All the while cashflows from existing hydrocarbon streams (e.g. Oil from
Lidsey/Balcombe) will be one key source of finance in our own Transition journey

While oil’s dizzying collapse is still fresh for many traders, rumblings are starting to emerge that by the end of next year prices could once again top $100 a barrel.

Azerbaijan’s Socar Trading SA predicts global benchmark Brent could hit triple digits in the next 18 to 24 months, and Bank of America sees potential spikes above $100 over the next few years on improving fundamentals and global stimulus. Speculators are also getting in on the action, increasing bets in the options market that oil will reach the vaunted level by December 2022...

https://www.bloomberg.com/news/articles/2021-02-24/whispers-of-100-oil-return-as-crude-shakes-off-covid-s-clasp?sref=Em01M8Hr

Whoops, my page must have become stuck, didn't see DoneK's post before I posted mine.

Presumably, they are anticipating access to funding towards the end of March so most of the further delay to first gas is attributable to the funding facility.

posted to their site today:

Brockham – Hope Reinjected
• The Brockham BRX-4 well producing from the Kimmeridge Layer encountered water
• However the Portland wells, presently shut in, should remain productive and with water injection
the recoveries can be expected to increase. Portland OIP estimated at 2.8 million bbls
• Planning permission already exists for water injection into the Portland but EA approval must also be
obtained. The alternative to water injection is presently disposal via trucking and incineration which
is environmentally unfriendly.
• The EA needs to see that there exists no risk to any other potable aquifer and has requested a wholly
new Hydrogeological Risk Assessment (HRA) and proof of well integrity. A renewed HRA together
with a successful cement bond log result (obtained in January 2021) has been submitted to the EA.
• First meetings with EA in October 2019. Subsequent correspondence throughout January to August
2020. Final application is now in the system. We expect a final answer from the EA during the
summer 2021.
• Subject to EA approval Angus will apply for a 5 year licence extension.

First gas pushed out further, towards the end of Q3.

For myself, I have taken less interest in the exact forecast date since there was no longer any question of benefiting from this Winter's natural gas prices.

The natural gas price is subject to considerable seasonal variation, the important thing now is that they can benefit from next Winter's prices!

https://www.angusenergy.co.uk/wp-content/uploads/2021/02/Angus-Presentation-to-Shareholders-Feb-2021.pdf

The over-promising and under-delivering of the past helps to explain the current share price, although there are, of course, reasons for that under-delivery.

The obverse side of dilution is that there is no financial debt and just one significant liability (the 3rd instalment of £550k due to P W Well Test Ltd in about 5 months).

Have you checked out Aquis?

You have successfully registered for ANGUS ENERGY PLC - Investor update presentation which will start at 4th Mar 2021 at 5:00pm GMT...

Questions
You can now pre-submit questions directly to the company up until the day before the meeting, in addition to asking questions during the live presentation.

Button clicked, arrangements progressing:

ANGUS ENERGY PLC will be holding a Investor update presentation meeting on 4th Mar 2021 at 5:00pm GMT.

Please click on the button below to login and accept the meeting invitation.

We are very optimistic about the prospects for finding new gold deposits in the Dolgellau Gold Field."

wasn't thinking of the more extreme environmentalists when I wrote that!

... thing is so many want the company to fail and will say anything to suit their cause
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That's where the opportunity lies, Ozzy, ... and, anyway, why would anybody want the company to fail? it's too negative a stance to be reasonable, given that UKOG is not really available for shorting purposes.