Member Info for WG818

Mmmm…….how many shares would they have if they convert those 300 million at.66 p is it over or under the magic 30% threshold?

Oofy.

That’s interesting I had missed that. Thanks for the info. Was that supplied for the planning permission decision?

Let’s hope non of the fictitious swampies that inhabit this BB get hold of that and dob them in too the EA then!!

Apologies it SF4 was turned off I May and June.

Water cut has doubled when compared against condensate in 9 months to around 40%.

Link to actual production figures country wide. Zoom in to Saltfleetby on the map and all figures are available ( three months delayed) Including water production.

That increases monthly when SF4 is turned on (see the CPR for details on the June July drop when they turned it off)

https://www.arcgis.com/apps/webappviewer/index.html?id=984eeea3b1664049b12c02a28478bdaa

Oofy

Yes and no. They have stated that there is a bottle neck for liquid storage. sF 4 water cut is obviously becoming a major issue. The CPR gives a figure of £500k per annum for water disposal.

Saltfleetby is actually the only site that they don’t have vehicle movement restrictions I believe.

Some of the sites have very strict limits on HGV movements. Lidsey is just 8 per week.

Https://opendata-nstauthority.hub.arcgis.com/explore

carbon licensing details

“with plenty of potential for Carbon Capture storage,” ……..Erm, you do realise that they would have to bid for a carbon storage licence don’t you?

They hold a licence to remove petrochemicals up until April 2027 and that’s all.

They hold no other licenses as far as I’m aware and would need to bid for them (storage) I believe.

“Then the GB£9 million is not that substantial and amount,”

It’s an awful lot of money for a company with a market cap of £20 million and 20% bridge loan they can’t afford to pay!

Why do you think the production levels keep dropping like they are weekly?…..something to do with SF4 and the water problem and that pressure drop?

Apologies, only one well drilled next year. The next follows in Q4 2025.

But it’s really not an option is it?

SF4 is about to become uncommercial with that ever increasing water cut . That work is scheduled early next year, the booster compressor is essential if they wish to continue production Installation October next year and the existing wells wont be enough to pay all the bills in a couple of years time making the new wells drilled Q4 next year, also essential.

That’s £9 million that the CPR tells us they need that they obviously don’t have at present!

Other than that they could just throw the towel in now I guess?

So it looks like Bubblepoint has finally read the CPR and realised the actual amount of Money they require.

£9 million just to keep the field producing is required next year on top of the outstanding debts.

Give him a minute and he will realise that they will be 30% down on production next year (see the CPR for details) It says just over 7MMSCF in both P90 and P50 scenario’s.

He has already figured out that the price per therm they did the sums on is highly ambitious (not the authors fault as that was the forward price at the roof publishing)

There are some real concerns also in the CPR that all investors should digest. Probably the main one being the pressure drop off rate. Its much higher than the previous CPR’s with the information they now have but makes it clear they are still just guessing without further information. It also recommends reducing flow rate to extend the life of the field.

Lastly, all the figures are supplied by Angus, now they are not known for being accurate or truthful in that regard, and the final Elephant in the room is that the total costs don’t de-commissioning.

Those 8% Gross royalty’s payable are eye watering in 10 years time! Actually more than Angus would get!

Seriously??….Perhaps you should have read the RNS before posting?

As for more shares that could be issued, well they have just voted themselves authority to issue Billions more!…….and then you have the 300 million warrants available at 0.66 to keep the price down. That’s if the aren’t forced to issue equity during the loan period. The 300 million would then fall to whatever price that may be!

Instead of pretending you have me on filter (we both know that’s another one of your porkies) why don’t you actually read the CPR BP?…Obviously it’s embarrassing reading for your previous incarnation push2 as it makes your in depth industry knowledge look wanting. All those things you posted for the mug punters hanging on your every word( whilst you were trading in the background) being dismissed as cobblers. Good call deleting that account as you would look foolish now.

https://www.angusenergy.co.uk/wp-content/uploads/2023/10/CPR-AEWB-Saltfleetby-Gas-Field-Effective-Date-1st-August-2023-Report-Date-13-October-2023.pdf

I think you may want to check your calculator batteries as well BP. At the time that Saltfleetby was first mentioned Angus had 458,944,208 shares in issue.

As of today they have 4,142,893,340….yes that’s Billion!!!

I think both of you BP/Ocelot are missing some fairly basic information in your posts.

They may own 100% of Saltfleetby……but they still need to pay Mr Forrest (Forrum Energy Services) the remaining £5.2 million by early 2025….. And as of today we have been diluted another 20% and now have over 4.2 billion shares in issues!!

As for waiting for “Happy days by Summer next year “…… mmm well I guess you really haven’t read the CPR bubble point. The flow rate drops to Just over 7MMSCF in both P90 and P50 scenarios average for the year2024. They then have the slight issue of paying the £6 Million bridge loan, the £7.5 senior debt and the £9 million listed for next year on essential upgrades and new wells……o and that £5.2 million due to mr Forrest……….and please don’t pretend you have me on filter either of you!

And just for good measure the CPR is based on an average gas spot price of £1.28 per therm in 2024 and £1.19 per therm 2025.

Good luck with that! That’s more than twice historical averages.

Surely you have read the CPR BP? It cost £250k a month. Page 65.

Another half million gone in delays from the August finish date we were given.

Better late than never I guess.

It’s a bit of a coincidence that they released that bit of good news the same day they hit 4.2 billion a 20% odd increase in shares with those added today isn’t it?!?

Jeezz bridgedog….at least read the answers before commentating!!

What remains to be refinanced will be about the same sum as the £12m we raised in 2021 to develop the field in the first place, as by year end all but c. £6m of the senior facility will be repaid and the only other debt remaining is the second c. £6m bridging debt.

Or the £800k minimum for the 1st stage of the Balcombe test come to that?

Highly unlikely they would proceed to stage 2 reading that answer however . “ The second stage would only proceed if the winning of commercial volumes of oil was determined be exceptionally high probability “……….In other words unless it’s proven commercially viable at the first try, we are liable to pay the whole well test£6.6 million, and given the Kimmeridge now proven history, we won’t be doing that!!

Actually, what about the £5.2 million due to Forrum energy Services for the purchase of 49% of Saltfleetby?……Any idea how that’s going to be funded?