Member Info for scallywag3

Would appear it will be another couple of weeks before planning application is submitted
https://balcombeparishcouncil.com/2019/08/29/angus-energy-at-lower-stumble/

So much for Angus keeping it's share holders up to date when we have to scour the internet for news.

Everyone should put Qwerty59 on Filter, obviously he thinks of himself as the " Swampy keyboard warrior " Don't indulge or reply.
Put It In The box.

What would be fair. Is that Angus update us, if by tomorrow they haven't submitted the planning application.
Will that happen............ Lets see.

RNS 7th Aug
" UK Oil & Gas PLC (London AIM: UKOG) is pleased to announce that it has signed a binding heads of terms with Tellurian "

When I read that I assumed it was a binding agreement. This is Not the case.

The following copied from.
https://uk.practicallaw.thomsonreuters.com/0-107-6683?transitionType=Default&contextData=(sc.Default)&firstPage=true&bhcp=1

"Heads of terms evidence serious intent and have moral force, but do not legally compel the parties to conclude the deal on those terms or even at all. However, provisions relating to confidentiality and costs may be binding on the parties."

So although Steve said a couple of weeks in his interview ( which I hoped it was ) it could be quite a while.

and for some reason, he gave the impression that the rig would Not be onsite until after it was completed.

UKOG is a HUGE BUY regardless of when this goes through and even if it doesn't.

atb.

Adding more empty promises in September if the planning isn't in the hands of WSCC by tomorrow.
record to date of promises, Fulfilled 0% Empty 100%

According to this, we should receive some good RNS's this week.
https://www.youtube.com/watch?v=dTfc4N6dlng

atb

I do wish that when people reply to someone on here, they actually say to whome they are replying.

S.S. gave an interview on the day or day after the RNS : "UKOG net share of Horse Hill oil field increases to 86% via purchase of Tellurian's 35% interest "
I was wanting to look at it again but can't find it. Does anyone have a link to it Please.

( I think he mentioned when the rig was due, which would possibly be this coming week. )

Im certainly concerned about Angus finance. Yet, not sure if they actually have to put the £2M in escrow a/c Anyone think those N. Sea rigs have £100M sitting in bank for decommisioning. There must be some other way .
Saltfleetby shouldnt need any more cash until the feesability study is complete in 3 months time, by then maybe we will have Balcombe on the cusp of EWT.
I wouldnt put another penny into Angus, still hold all my shares in her.
I hardly look here now, bought into Ukog hoping to recoup my Angus losses from them.
Gla.

gkb47 I'm no longer interested in Lidsey or Brockham both were unproven and both required to be drilled. Angus assesments were wrong, or maybe part of a scam. However, Balcombe is a different story altogether.
I'm personally fed up with people in here lying about what is still in the pot, for whatever reason they have.
And as I'm fed up correcting it all, I'm taking a break. I may be sometime.. look after yourself.

RNS 10th Jan
" On 2 October 2018 the Company announced the results of the completed horizontal well test of the Balcombe-2Z's Kimmeridge Layer as having naturally flowed at 853 bopd equivalent, not including 22.5% water. A second flow period was undertaken with the well flowing naturally at 1,587 bopd equivalent, not including 6.6% water.

Post-test analysis of the recovered water demonstrated levels of salinity significantly higher than any regional trend, indicating a strong probability that injected brine rather than formation water was being produced from the site's Micrite Layers. Given the mandated length of the short testing sequence, the Company was not able to remove what it now believes is a limited amount of unrecovered brine from previous activities at the site. "

gkb47 No one is expecting planning permission for end of August. only that the application is submitted.
Balcombe had been drilled years before Angus carried out the testing in late 2018 and there were no issues in trying to get it to flow. The well had been fitted with a slotted liner and hence no perferation was required.
The water at Brockham apparently was fixed. the issue is with the maturity of the oil
There is No water issue with Balcombe.

I do wonder why so long to submit a planning application. We will have to wait until it is submitted to see why.
Hopefully they are including groundwork that it may progress from EWT and later to production with little work.
" 2 more weeks" I've been saying that for 2 +1/2 years with Angus.

YL. Have to disagree with your Balcombe statement. The water you mention is Brine used from previous drilling.
When Angus tested the well 2018, they encountered this. Yes they first believed it to be water. As each small test was made the percentage of water ( brine ) reduced until in the last test it was 6.6% . After their 7day restricted time testing was completed it was discovered in lab tests it was Brine used from previous works on the well. The % reduction proves that point also
Yes they got both Brockham and Balcombe wrong. in REVERSE. Balcombe initially recorded as with water. has No water.

My take on the assets of Angus, amount to £18M plus goodwill of Minus £12M ( - Trust in Angus directors)

R.A. Firstly I'd rather see an outcome from Balcombe first, whichever way it goes.
Only then will I consider action against those involved with deception ( which is already proved with their letter to the OGA or so it appears )
I don't want an outcome where they get off scot free settled out of court, I am prepared to lose my money invested ( many £K10's ) and see them go to prison.
I'll give them a chance to redeem themselves with Balcombe.
atb

You may well be right RA. Yes, I believe there is oil in Brockham, I'd say 1/4 of that of Horsehill per acre at Most and probably less.
........................
My hopes of any return on my investment with Angus is purely down to Balcombe.
.......................
No I don't beleive there is a better chance with suing at this time, pehaps I'll change my mind after Xmas if nothing has improved by then.
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Rather than average down again in Angus, throwing more money into an even bigger risk each week, I have put my faith in UKOG. As it stands, if both Angus and UKOG reach 3.5p I'll be even.

Wonder how they are going to sell Brockham. Have been looking at historical figures for the Portland.
https://ogauthority.maps.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa
It appears that the best they got was around 130BOd max. It may also have been from two proucing wells as most months were 1/2 that. this is going back 2004 / 2005 . From 1 well it was at best 25% of Horsehill Portland.
Giving the possibilty that the portland is filled / migrated from the Kimmeridge, then i'd say Angus probably did prove that the Kimmeridge at Brockham just didn't have what it takes. and proves for me Horsehill certainly has something to celebrate about. Our time will come with Balcombe, it has already been proved as a Gusher albeit on a minor test. it did flow under it's own steam. no pump.
What Angus have planned for Brockham is anyones guess, I don't see anyone buying it, if they as the say are considering the Portland they would have to be thinking of a new drilled horizontal well. ( another Lidsey I expect, empty promisses from a depleted empty well)
Angus are a BUY just on Balcombe, but we can forget about the Mega riches we dreamed of , of the past.
A couple of links to keep your eye on. Angus may not keep us up to date.

https://balcombeparishcouncil.com/2019/02/13/angus-energy-update/
and
https://westsussex.planning-register.co.uk/Search and paste in
Lower Stumble Hydrocarbon Exploration Site, London Road, Balcombe
atb

HeresHopin. I wasn't valuing the company.
I was saying the £12M paid is the 12 years of Tel's own income from one tanker a day if they hadn't sold. perhaps 13/14 years inc. costs.
UKOG are paying nothing for the extra 35% they are getting from Tellurian

Initially I thought paying £12M was over the top. Still thought it was a good move all the same
But doing the maths,
1/3 of 215 Bod 70 bod @ £40 = £2, 800 a day. £1M a year. That's only paying 12, years production as it is now.
UKOG are getting that money back each month effectivly only giving Tellurian what they would have had anyway so actually costs UKOG nothing to take the 86% of all future revenue. What a blinder of a Move.

It can't be right. Can it ?

Just noticed a couple of filterd statements. out of couriosity i thought I'll just have a look. Yep as expected it was Will
Filtered him due to the fact he brings nothing to the table no research or anything, just speaking about himself bragging this and that. taking up space and boring the hell out of everyone .
Back onto the filter list.