Member Info for SillyButtons

BV,
I am not HITS and i have told you before.. repeating that absurdity wont make it true..
and how try a counter arguement rather than insulting for a change..

Stockbob,
not sure you are on the High moral truth ground you think you given the statement below..

"amazing bit of diplomacy and business, they both win at end of the day if the money starts pooring in so makes sense why both parties wanted to change terms"

it is not a win-win. It is costing angus money in lost volume over hedge quantity ( assuming sidetrack successful) to sell at high gas prices than July..
We were provided with no other details other than "no upfront cost" to angus. I think it would be foolish to rule out cost later based on past RNS and carefully chosen words used..
also your ramping, misleading post yesterday re revenue from gas production where you completely ommitted to mention the hedge.

Apologies. that should be Bridgedogg, not Brudgedogg. typo

Brudgedogg,

i am curious how & why, when you didnt know the details of the hedge and posted mis representing them, you felt you were in a position to refer to posters as "the hedge bed-wetters"?

Why?
i means that Angus has less gas above hedge quantity to sell at higher gas prices that currently.
Pushing out the hedge is going to cost the company money..through lost revenue that we know of.
I am guessing quite possibly cost the company through some deal that was done so lenders would faciltiate pushing out our hedge commitments

Hamsters18, shareflyer & asher are the threats to you staying top of the pile for being stupid & deluded! :-)

You would imagine it would, but dont be surpirsed if there is a cost to angus for the deferment or a minimum gas price for Mercuria or both.. Mercuria have no reason to take on the risk & gamble of gas prices falling and they financially losing out.. they are in a postion to arrange a win win for themselves.. and while unlikely at the moment, if the war in Ukraine ended and russia turned back on the taps, the price will fall from current rates..

max, only a portion of thre hedge has been moved.. you would have to imagine it applies to the missed July volume.. pity they didnt provide a quantity, it owuld have been a good indicator as to GL's actual expected production this quarter.

will have to keep crying still no production!
Gas gas gas still not been produced & sold.. @ 43p therm average..
Ramp harder shareflyer!

Silverlight.. lets hope GL lets the share price rise before we find out the cost of our "no upfront cost"..i have a feeling there will be be substainal down back cost!

Firstly baits, thanks for own thread, it feels like accolade!
Secondly we don't know if the hedge is covered.. We have "expected" volumes but until flow starts through the plant and is stable we don't know..you are entitled to take the word of GL as gospel, I am entitled to query that word and be more cautious, especially given the information and subsequent delays we have been told.

Thirdly, I have no desire for Angus to fail.. I'm invested, check my history and you will see I need just under 2 to get out. All I said was your query re how many million will angus have made off sfb in 10 or 15 Yrs time was very simplistic argument ignoring the importance of cash flow at the beginning.. It would not be the first potentially lucrative project to fail at the start due to cashflow.. Let's hope it doesn't.

Fouthly, I agree fossil fuels are needed until viable a combination of economically viable alternatives are developed to provide stable, reliable and sufficient alternatives. That future is coming but it is still a long way off.. We can have all the protests, summits, targets, bans etc but fossil fuels will be here until there is an alternative

You can cast me as a pantomime greeny in your greenies are out to get us conspiracy if it suits your argument but I'm not.. I feel compelled to point out our village idiot, under his numerous aliases, was a big fan of using that theme to discredit posters.. Being in company like his should make you question your decorum here..

It will be good when angus get gas to market, it will be significantly better if they get a successful side track in time to meet the increased hedged quantities and make money of high prices with surplus to hedge gas.. We are in trouble if they don't.. Based on the 5m production for the quarter as per rns, we need 63 days production to meet the hedge this quarter. Time is running out..

The whole problem with the world is that fools and fanatics are always so certain of themselves, and wiser people so full of doubts.

We know baits, no need to repeat yourself..your ignoring the importance of cash flow in your simple assumption, but you seem a bit irate so we will leave it..

That is a fact HITS, they wont believe that..
any idea what was said in the "angs" thread that it got pulled? i didn't see anything..

Have noticed the cheerleaders a have been a bit hot under the collar today! (stirring the pot!!!)

We shareflyer, no one could accuse you of being paid by the word to ramp this anyway!!

If the 6 million referred to is the last placing, there is not that amount left.. 1.5m spent on SFB & acquisition, approx 2m for working capital & 2.5m on deposit to satisfy lenders.. assuming the 2.5m cant be used then, of that 6 placing, there is only what has not been already spent out of the 2m working capital left..

Of the Initial Subscription Shares:
o £0.25m in respect of payment of the initial cash consideration in respect of the Acquisition;
o £0.75m to meet the budget overspend in respect of the Saltfleetby Project;
o Transaction costs - legal and advisory of £0.5m; and
o Working capital and future acquisition finance of £1.50m.

Of the Secondary Subscription Shares:
o £2.5m as reserves to satisfy lenders and regulators; and
o Working capital and future acquisition finance of £0.5m

B_F ,
not trying to ramp..
it was tongue & cheek to RT's post..

Well B_F,

RT told us yesterday the equipment for the side track had arrived. He pays a lot of money to be in private groups to have expert opinion & the inside track so it must be true???
"Its now a treble success as also equipment arrived 5.32pm for the sidetrack drilling"
No sure what the other two successes referred to are..

Ocelot,
Only my opinion, but i don't think they will cut the EU off.. Need the money and cutting off supply will probably prevent EU in the future re engaging with Russia for Gas supplies.. EU takes approx 65% of their gas exports which would give their other buyers too much leverage to lower prices..
I think the strategy is keep supply low & cost high to cause uncertainty & problems but not kill the trade with the EU.

As trolls were mentioned quite a bit recently....
this gave me a laugh!

https://twitter.com/davethedrill1/status/1549387555988176898

Gotham,

Re your post this morning,
"Today 08:32
I'm sure the contractor is paying a nice penalty clause for not finishing on time."

it is highly unlikely contractors being penalized for delay.. that is because angus has acted as main contractor and subcontracted out all the packages individually so the only party with responsibility for the project in its entirety is angus..

No subcontractor is going to accept penalties if delayed/ Issues because of the the work of others.. that is why there is a role for Main contractors in construction to coordinate the various subcontractors and ultimately take the responsibility for the whole contract.. they charge a good %age to manage & accept such risk, but they pay to sort it out..

Angus decided to go the direct labor route for SFB as it was the cheapest way but we are experiencing the reason it pays to get someone competent to do it