Member Info for SillyButtons

Tygra,
" their 'mates' get out/in based on actually knowing what's going on, NOT by reading tweets and fictional RNS releases."

You mean like Paul Forrest & SEL getting out with their money and not have to endure this wait..

And to think SV, the abuse you were giving people here who disagreed with your 1st gas Q1 2022 belief!

maytheforcework,
"That position was when we only had half of the gas now we have all of the gas and the side track will give high flow rates too"
You do realise we took on the other half of the debt, liabilities & opex as well with that deal?

Taverham,
"that GL is deliberately holding back production because gas prices are rising ....... perhaps?"
to me that doesnt make sense.. all we are doing is rolling the hedge into other months & quarters so therefore less surplus gas over the hedge to sell at higher prices.
If they want to sell gas at the higher winter prices, they need to be meeting the summer hedge quantities at lower market gas price, not rolling it over into the winter months reducing our surplus over the hedge to sell at higher prices...

if they want to make money with the high gas prices they need to a) start producing & b) get the side track installed ASAP.. Gas prices wont remain this high for in the medium term.. an end to the russian war would probably cause a significant drop in prices.

not producing is losing money..
Also as octane mentioned there would be issues around cashflow and debts..

SV,
"and none of the Rampers have an answer to any of those points - not surprising really"

Neither did you when you were ramping this but that never stoped you posting insults and nonsense.

Lor9,
Angus were the main conractor and subcontracted out the various packages as it was the cheapest way to go.. no subcontractor would sign up to contract with Liquidated Damages to cover the hedge.. especially when they are building on the work others. everyone would blame the previous subcontractor.. This is the Job and risk a man contractor would take on, to coordinate and be a single responsible party for the works and they charge well for it..

Lemonleaf
"I merely copied and pasted the text from Angus web sit on the link in my post below"
if you were familair with the company, you would have know that they didnt acquire the complete asset until last May.
you would also be wary about taking anything they publish at face value..

BV,
need to be careful with faith
"There are none so blind as those who will not see"
but each to their own..gla

360Phil,
"BV, it's neck and neck between you and Adrian for being the most unhinged poster on here."

while i dont agree with Bv's perpetual rose tinted view of everything related to angus at least they are consistant..
that other numpty, SV, is a feverent believer or ardent detractor depending on when he is in or out..
SV is always the winner in any unhinged competition..

Now you know what it is like to read your posts shareflyer!

hamsters,
i didnt know the DWP required a resignation letter from beneficiaries! ;-D

That is the worry Mirasol..
and the fact we have managed to roll the hedge once, i suspect that will be the plan b for the side track installation.
This will limit cashflow with debts to be paid, is a loss of profit at higher gas prices that wont last forever and another failure keeping the Sp surpressed..

Bridgedogg1,
"My interpretation is that any unmet hedge from Q3 will be rolled over and spread across Q1 and Q2 hedge requirements."
I wouldnt think this is the case as they probably do want/need some unhedged production for cashflow & debt

"That gives us significant headroom for the rest of the year"
this is not the case as based on 5m therms for q3 will be short for q4 without a side track.
A Successful Side track will re remove any concerns re the hedge but until then it is a concern..

"A intraday/Monday RNS to confirm first gas and spud date would be welcome and not unlikely IMO"
Agreed.

Bridgedogg i agree, we should have been given the detail of what was rolled over..
Based on the 5m therms for q3 Rns, that would leave us produceing approx 2.9m therms for the remainder of this quarter if it starts monday.. so assuming the 1.125m for july was just rolled over, then there is still headroom to meet the august and september quantities of the hedge.. again assuming july hedge rolled over, if we are producing by the 22nd of august we could meet the hedge Volume assuming it would be acceptable to provide it within the quarter rather than month by month, but there would be no volume surplus to the hedge if production runs that late..

to be fair HITS, he never said we would make 7.2m for june.. it was could.. they are very careful to use suggestive but non commital language

Stockbob,
"it is a non issue until the hedge comes into play which is q1-q2"
The hedge for q3 2022 is still in play.. the company rolled over some unknown quantity.. we dont know if meeting that is an issue. irrespecitive of Q3, we wont produce enough to meet Q4 2022 hedge from exisitng wells based on Gl predicted 5m therms in Q3 Rns..

Stockbob,
"all the hedge bs is a non issue for atleast 5-6 months anyway"
you really are a moron with that statement!
until last week we had to meet the Q3 hedge and were not producing any gas to meet it with! is that a non issue???
and also at 14:21 you posted this"hedge had ANGS over a barrel....".. that sounds like it may have been an issue!!#

Jollifant Premium Member
RE: RNS - 2nd rig secured
Today 14:27
"Oh 've seen 'em don't worry about that. "

Can confirm.. Jollifant does occassionaly visit the angus board..
great to see this up..

"Sillybuttons, the 'hedge bedwetters' are those that say we cant possibly meet the hedge requirements, or produce any gas, or possibly have any positive outcome....................."

Thanks for the reply.. just seemed an odd & rash statement to make, given lack of knowledge on the details.

Re the hedged quantities, at things stand, we still dont know how much of the hedge is rolled over, so not possible to work out the costs.. and for q4 we do need the side track in place in order to meet the hedged quanities (based on the predicticted 5m/Q3 from RNS). That leaves only 8 weeks to complete & commission the sidetrack so it is ready when needed.. and of course we are still not producing from the existing wells but hopefully that will change by the weekend..
While is obviously ridiculous to say we wont produce any gas or there is no possibly positive outcome, i dont think it is unreasonable to be getting a bit concerned about the hedge and frustrated by the delay in production, and annoyed at the lack of information that is being given to shareholders..

Stockbob,
"sillybuttons you can twist how ever way you want, that was fantastic news for any ANGS holder
hedge had ANGS over a barrel and they are now in a much better position, is it ideal? no but it is much better for business"
i am assuming you posted the above in repsonse to my post under the thread "punt"..
I have twisted nothing.. i merely point out that its not great news as it will cost angus in loss revenue at higher predicted gas prices.. I agree the roll over is better than the alternative scenario, but, in my opinion, that does not make it great news. It was the preferable of 2 bad options due to the companys inability to finish commissioning and start production in time..

Also if there was no cost to the roll over, you would have to assume they would have stated that in the RNS. The fact they stated no "upfront" cost, implies there is a cost to this arrangement down the road.
Whether that cost is purely from selling the gas at the hedge price vs the expected 400p ish price, remains to be confirmed and the cost remains unknown until we are told the volume of gas rolled over and know the price of gas during Q1 and Q2 of 2023.
There is no twisting involved in the above..you may not like it, you can say i am twisting things, but that wont change the facts.

Stockbob,
"Ok so you would rather the company went bankrupt and they renogotiated nothing? got it"
that is clearly no what i said or implied.
Why are you telling me what my opinion is?