Member Info for WG818

Lol…good old BP coming to similar conclusions I pointed out several months ago when he was on the outside of the trade!!

Just a couple of points however BP. They could have drilled the sidetrack at any point in the 2 years preceding the plant installation.Hands up wh thinks they may have had a better idea it wasn’t going to be as straightforward as they told us!

The pipeline extension works you mentioned was supposed to take 3 weeks and lasted over a year.

Again with the lies Donk. The only one who has ever said either of your comments assigned to me was yourself!……as for bunny boiling……well your fascination for myself is bordering on that. Good job I’m not a woman or I may have wanted some intervention by now!

Sorry Oofy, I’m not familiar with the clause you’re referring to? Where did you see it? I’m not sure it would cover storage at any rate as it wouldn’t have even been thought of at that point.

The other consideration is of course if the NSTA license even covers storage of Gas, Hydrogen, or C02?….it’s an extraction license after all!

Oofy

The non continuation of the license renewal may well be unlikely, it is however a distinct possibility.

The CPR gives details of this on page 7 and 17. The license expires on 3rd April 2027,

“the PEDL005 license would need to be extended in its entirety, not just the AEWB/ Saltfleetby blocks/subareas. All owners are obliged under their agreement to assist in any application to extend.”

That farmer may well think he would rather lease his land to a ftse100 company, than an Aim laughingstock!?!

Luseferous.

Angus hold the licence to extract hydrocarbons issued by the NSTA (formerly the OGA) up until 2027. They as far as I am aware don’t have permission to store gas. Hydrogen, or CO2. The site also doesn’t now have permission although it did receive this in 2013. The cost given then was circa £200 million. They also lease the site. Talk of Angus holding the whip hand on storage is just pie in the sky at this point. A major may just decide to side step them and outbid them on the lease or license in the future. See the CPR for details.

Oofy

Literally the only one who has said Angus is going to go bust is Donk by assigning a comment to myself that is a complete lie! That’s because all he/she posts are simply made up tosh!

With regard to Aleph. It’s heads we win tails you lose isn’t it. They either let the price drop by selling some shares, or wait for someone else like Forrest or Knowe, and they convert at 0.3 p and get the company on the cheap via a management buy out, or other words to that effect, or they stump up the $25 million in 6 months time and cash in then. They hold all the cards and also all the inside knowledge. Not really a level playing field is it?

Dear me Rob bot!

If you’re going to repeat the same line again and again at least try and get your facts straight.

Literally all you posted then is incorrect!

I suggest you and anyone stupid enough to believe your cobblers, should actually read the wealth of information available on the company’s own website!…..half a billion in…”assets” …they are all end of life fields, with the exception of Balcombe which is targeting the largely discredited Kimmeridge (just on test if they go ahead) at a cost of several million. Lidsey and Brockham cost £100k between them when bought, and the jewel in the crown Saltfleetby cost £1 (hence the nickname Poundland)…….and the license for Poundland runs out in 2027! They don’t actually own any of the assets either!

Why would a major not just apply for the PEDL license in 2027?…..check the CPR for material risks!

May NSTA figures out.

Not sure what’s going on here but both condy and water showing down fro April when they said they were producing 120 barrels a day?

Water is down considerably.

Https://www.nstauthority.co.uk/data-centre/nsta-open-data/production/

Really Crocqman? It seems moist of the questions threw up more questions than answers to me, and directly asked questions side stepped!

The condensate answer says 160 barrels/day through the plant. That implies that includes the water cut as I suggested. The NSTA production figures should be out today so we should see.

The booster compressor answer was interesting though “to produce down to a much lower abandonment pressure” that’s scheduled for next year on the P50 table in the CPR……..yes looks like the new one they promised for around now has also been delayed…..same old Angus!

Rob.

You are making yourself look ridiculous. “ the half billion pounds worth of assets”……it was £300 million yesterday or the day before, and just a reminder they paid £1…..yes £1 and were also given £2.5 million at the same time.

It’s a fantastic fairytale you’ve trying to spin.Do you fancy buying some magic beans?

Hits

For your future reference regarding storage and costs.

This is from the previous permission granted in 2013.

Cost and Viability

11.133 Although no breakdown was provided, the total cost of the proposed

scheme was estimated at about £200m

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/47922/473-application-wingas-gas-storage-saltfleetby.pdf

Quite simply BeachHut, it’s painfully obvious BV didn’t have a clue how many shares were in issue!

I suggest he has a look at the further Billion plus in Options and warrants that will stop any multi bags happening!

Hits, just bin the muppet! As the saying goes

“you can’t argue with stupid!”

Zero risk!!!……..This is from the poster who said the company was over a couple of weeks ago!

Perhaps you should read the RNS again onetomany. (or get your man on site) to door for you?

They are taking another credit cart loan rate £6 million BRIDGING LOAn and give figures for production for the last 2 months that show they won’t make £6 million to pay the shot term loan off let alone the other £15 odd million they owe and OPEX and CAPEX!

The RNS even say s they can extend the bridge moving forward!

1. Why would they want to lose money and the arrangement fees if they decided to loan them the $25 million.

2. If they don’t actually decide to loan them the Money they have know way to pay the bridge back and they default. Probably at 0.4p per share if that’s their intention. That puts them well above the threshold required to make an offer for the company!!

Yea……absolutely zero risk here!!

Erm. But the market cap isn’t £300 mill is it one to many..it’s about an 8th of that and in case you don’t actually understand what’s going on try multiplying £9 million by 0.3p! That’s what you get at .25% below the “30 day VWAP subject to a floor of 0.4p/share including in the event of default “

Now some may view that RNS as nothing more than Aleph all but announcing a penny on the pound buy out, if they choose not to supply that $25 million finance package! ….And in all reality why would they when they could force the scenario I just gave and lose out on all the costs they built into the unaffordable bridging loans?…….Don’t forget they in all probability installed the new CEO as part of the conditions in the £7 million mega placement.

They are underwater and want their money back understandably! They don’t give two hoots about us “mug punters”!!

Who knows. perhaps they thought it sensible to miss the £6 million Bridge loan out and go straight to the $25 million 15% loan with the same lender…after all that wouldn’t have made perfect sense in the 1st place…..The first place being before taking the 1st £3 million bridge? ……I guess Aleph wouldn’t get all those hundreds of thousands arrangement fees if they did that though?

Yea. All good…….Only didn’t they have to pay that £3.5 million to Mercuria yesterday?…..not like they haven’t known about it for just under a year is it??

You mean Cuadrilla the majority partner in Balcombe?? ….surely she should have excused herself from hearing the case??

It’s just another reason to appeal otherwise surely!?!

Oofy

It’s really quite amusing reading the members and former members of the Telegram AKA boiler room crew talking about me in the vain attempt to draw attention away from the funding Elephant in the room!!

Trying to pretend you have filtered me, when you’obviously haven’t isnt a sign of confidence!

Not really a good idea to delay an RNS, when you need the money to pay £3.5 million today really is it Odin…….some might see it as a tad worrisome!

Shouldn’t we have had an RNS regarding this?

“The company is required to make a payment under the derivative instrument of approximately £3.5 million by July 20th”………”and with will be announced on completion and drawdown planned for next week”