Member Info for Sufc100

BP - Dam lies and statistic.

Why have you included the grace period? This was negotiated and agreed with Trafigura, it doesn't mean we owe them your pie in the sky £37 million. That would entail a 100 percent per annum interest rate - hardly likely.

Always thought a takeover likely.

"Cora is one of the few remaining independent gold developers in West Africa, with the DFS, strong shareholder backing, and favourable jurisdictional changes positioning it as a likely M&A target in a consolidating market."

Onetomany - where is the information on the relisting this week? I have not seen anything in a RNS to suggest this?

Here's what Gemini suggests as possible uplift on production for Saltfleetby.

As of the official announcement from Angus Energy today (December 19, 2025), the company has not yet released a specific "target percentage" for the production uplift. This is common in the industry, as the final results depend on the "clean-up" phase which will take 4 to 6 weeks to stabilize.

However, based on the specific reservoir conditions at Saltfleetby and historical performance from previous interventions (like the booster compressor installation in April 2025), we can project the likely outcomes:

1. The Projected Uplift: 20% to 40% (Targeted Range)

While the company is being cautious with public figures until March 2026, industry analysts for the UK onshore sector typically model a 20–40% uplift for this specific combination of treatments at Saltfleetby.

Liquid Loading Recovery: The Saltfleetby wells (SF2, SF4, and SF7) have been increasingly restricted by condensate and water. By "lifting" these liquids with coil tubing and nitrogen, the well can return to its natural flow rate.

Booster Compressor Synergy: The booster compressor commissioned earlier this year (April 2025) already provided an 18% increase. This workover aims to "unlock" the potential that the compressor created by further lowering the bottom-hole pressure.

2. Operational Uptime Percentages

The company has provided very specific numbers regarding the "uptime" (reliability) during the workover period:

December 2025: Expected uptime of circa 90%.

January 2026: Expected uptime of circa 60% (reflecting the period where wells are offline for the actual physical intervention).

Long-term Goal: The intervention aims to restore a steady 90%+ efficiency by March 2026.

3. Key Variables at Saltfleetby

The final "overall percentage" will be determined by three main factors:

The "Skin" Effect: If the "drilling additives" mentioned in the announcement have significantly "skinned" the well (blocked the rock face), removing them could lead to a massive, sudden surge in pressure.

Reservoir Connectivity: Saltfleetby is a Westphalian reservoir. It is naturally fractured but can be prone to "fines migration" (small sand particles clogging the flow). The remediation part of the campaign is designed to clear these blockages.

Liquid Influx Rate: If the water or condensate returns quickly after the cleanout, the percentage uplift may be short-lived. This is why the Nitrogen Lift is so critical—it ensures the well is "dry" enough to start flowing at high velocity.

What to Watch For

Angus has stated that the results of the workovers will be assessed in March 2026. Until then, the market will likely be looking at the daily export figures to the National Grid as a "live" indicator of success.

I believe Bubblepiont has been calling for the workovers with coil tubing, which will have a positive impact on production. Good to see Trafigura are backing this and obviously see Angus as a going concern.

Oofy - High-Debt on AIM: You are more likely to find a high ratio (like 3x) on AIM among companies in the mining, resource exploration, or early-stage development sectors.

Offy here are some examples - they are often Utilities/energy companies that require infra structure investment - not unlike Angus.

National Grid (NG.)$\sim$£47.54 Billion (Mar '25)$\sim$£19.86 Billion (TTM Revenue)$\sim$2.4x

Severn Trent (SVT)$\sim$£8.55 Billion (Mar '25)$\sim$£2.43 Billion (Mar '25)$\sim$3.5x

United Utilities (UU.)$\sim$£9.61 Billion (Sep '25)$\sim$£2.55 Billion (FY26 forecast mid-point)$\sim$3.8x

James I disagree with the remark "Even with debt over a sensible period and no hedges it would be very profitable but with the debt and the hedges it cannot afford to service its loans." It is very common for companies to have debt often up to three times revenue. As Angus have only 1x revenue with sensible repayment package this SHOULD be manageable.

So 56231 therms per day at 80p for 350 days (takes into account down time) = *Revenue £15,744,680.

Already profitable and after renegotiation of a relatively small loan of £18 million, we will see a profitable company emerge.

*Plus oil revenue circa £3 million

"Cora Gold informed the news agency that it had relinquished the affected permits more than two years ago and had not been formally given any notice.

The company further said the postponed cancellation did not affect its operations. "

Seems Bert wants to stop the share price slide. Got to ask the question are regular meetings enough to get a permit in Mali?

Good News :-

Finance Update

Further to the announcement of 21 July 2025, Angus Energy is pleased to confirm that the Company and Trafigura have agreed non-binding terms to restructure its debt subject to final agreement on new covenants, and subject to agreeing revised terms with the Overriding Royalty Interest holders (“ORRI”) and the Deferred Consideration owed to Forum Energy Services Ltd. Full details will be announced in the coming weeks.

The restructuring is expected to provide a stable financial platform to support future operations and deliver long-term shareholder value. By consolidating and refinancing existing debt facilities, the Company will be better positioned to raise new capital in support of organic growth, increased production, and potential M&A activity. The Company is benefitting from higher oil and gas prices and continues to carefully manage its working capital position in conjunction with its lenders.

Potential Acquisition by Reverse Takeover

Further to the announcement of 19 May 2025, the Company is continuing with its due diligence on the purchase of a group of producing assets located in the Gulf of America. The Board is meeting in the coming weeks to agree whether or not to proceed with the transaction. The Company will update the market accordingly.

Interesting comparison with Toubani Resources (ASX: TRE). They are at the same stage as Cora, in the same area with similar resources. Having produced the DFS and now secured funding they are valued at £77 million (Cora £46m). As a result the share price has increased by 50% since September 19th and is on an upward trajectory.

How Common / Controversial Is This Kind of Setup?

Not unusual in estate planning: Life interest trusts are a standard tool in UK estate planning. They allow someone (often children) to give usage or benefits to a person (e.g. parents) while preserving control and tax advantages over what happens after their death. Many families with substantial assets (especially in property) use similar structures.

Risk of criticism when public figures use them: What raises eyebrows is when someone publicly criticises tax avoidance or aggressive schemes, yet in personal affairs appears to use a legal but tax-efficient structure. That leads to accusations of hypocrisy or double standards.

As today proves you only need a £10k buy to swing this 3%.

When the mining licence arrives and the herd follow it will rocket.

No single day hysteria, numbers seem to be getting better :-)

25/10/2025 - Saltfleetby Sub Terminal 1,545,556 0.135

Sorry Mirasol, didn't realise you were the guardian of numbers. Funny how all the neg heads jumped on the drop of numbers last weekend (now obvious it was maintenance)

Saltfleetby Sub Terminal 1,483,333 KwH 0.129mscm

Cora has huge potential to become a mid cap producer. Already identified 1 million oz and Senegal looks equally prolific.

Two million oz at $3759 = $7.5 billion. Even if royalties are half of that and extraction at 20% it leaves a whopping $3 billion. What a company to be in!

The Lassonde Curve shows how the value of a mining/project company tends to move from early discovery through to production. We are currently on a price dip (awaiting permitting, construction) after these are complete and operation starts a huge spike in SP will follow exceeding all previous highs.

https://elements.visualcapitalist.com/visualizing-the-life-cycle-of-a-mineral-discovery/