Member Info for WG818

Not at all Garwool1

I’m just not a big fan of liars, be it posters on a BB or those higher up the company food chain!

HIT’s

You’re quite correct. The departure of Lord Melton Mowbray was surely the only reason for the rise yesterday.

Other than that it just confirmed that they are ready to take another Wonga loan out, to pay the Wonga loan they took three months ago, that they took to pay the credit card rate loan they couldn’t pay then!

Good luck trying to get Mercuria to give up that 8% on all production from Saltfleetby ( GROSS) when they negotiate the $25 million new credit card rate loan!!….no surprise it has “POTENTIAL” as the first word.

It had no money?….and yet they managed to pay Vonkey £300k goodbye payment, and he got to sell his shares in the full knowledge what was going on before the bombshell broke!

He was pretty good at interviews where his nose growing should have taken Geppetto interviewing him eye out!

GL raised the bar considerably on that score!!. What sort of a golden goodbye can we expect his lordship to receive??

HITs

If it wasn’t for MR Forrest,s owed£5.6 million that s not included in that figure A.

So they are taking a £6 million @ 20% bridge loan from the same lot who they are hopping to take the the $25 million from and pay it back in 18 Months??

They won’t do it unless gas prices are more than double what they are now! So just call it 36 months which it will take if and it’s a very big if the P50 figures in the CPR are correct and not the P90 which looks far more likely.

Aleph are doing very nicely out of sorting the endless finance calls out aren’t they?

Mmmm

“whats the next pitfall Angs has “

Quite obviously the dramatic fall in the price of gas lambinaor……down to 62 pence a therm now.

Well GL,s departure was worth 20% on the price!

As has been mentioned the rest needs some digesting!

Yes gallder…….you are guessing……as I have been pointing out for about 6 months now!!

The new rolled hedges were arranged at a time that the sidetrack was still un-drilled!

There was absolutely no guarantee that it would produce the required additional volume to meet the secondary hedge at the time, or as subsequently happened it would be completed to produce the gas on time!

Someone somewhere is between £5 and £7 million (is it between the 2 secondary hedgeds from the 4 months non fulfilment) out of pocket on gas that wasn’t produced.

I could guess that Mercuria would have inserted a caveat that if Angus failed to produce the required amount of gas they would have to pay Mercuria what they had sold it to someone else for? Around £7 million? …..I would be guessing but so are you!!

I think you will find they do a dam site more than “Trade gas contracts” gallder!!…….They also were the major party who lent Angus the £12million at 12% plus SONIA……and who also hold the debentures over all Angus assets…….o and the 8 gross on all Saltfleetby sales when 85 % of that £12 million loan is repaid. The rolled hedge quite obviously isn’t a normal financial hedge agreement.

They had Angus over a barrel and as has been pointed out the offer the £3 and ££4 a therm on the rolled hedge looks like charity. It will have come with Caveats that we can only guess!……and they won’t be to Angus’s advantage.

Oofy

I think anyone who thinks they have any idea of what s actually been arranged with the “rolled” hedges are kidding themselves. Everyone not party to what was actually agreed (and that includes MR Forrest and Aleph and affiliates, who have been selling heavily) are simply guessing. If they had actually fulfilled the hedge both original and subsequent we would be able to work it out remarkably easily. Instead we are missing payments of£4.1 million from last month, have £3.5 million to pay on the 20th of this month and have figures listed in the half yearly like “Depletion charges £5.162 million”…….what the hell is that all about??

You then have the quarterly production figures giving a hedge figure of “hedged monthly volume of 1.75mm therms per month for the quarter. That figure would cover the original agreed hedge, but not the “rolling” hedge at £3 plus a therm.

Dave

There is nothing pointing to the £4.1 Derivative catch up loan having been paid In full or in part. If any sort of payment had been made surely it would have appeared in the subsequent events section at the bottom of the Half yearly?

And as I may have mentioned several dozen times, they failed to meet the secondary hedges in Jan,Feb, March and April. I may have mentioned once or twice that speculating on what the hedge payments received and paid are was and is just guessing when the hedge isn’t being fulfilled.

Dave

You seem to have missed the £3.5 million hedge payment due on the 20th of this month, and the £4.1 million catch up derivative payment due in June? ( what s happened to that? I suspect that they aren’t the actually the same thing.

PS Dave

The interim accounts give a figure of £735k in oil (condensate) sales for the six months which also backs up scenario 2.

All figures are delayed by 3 months

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

Dave

I suggest you have a look at the RNS,d Quarterly production figures. The 3rd January one gives details of all water being produced from well A4.

Now there are a couple is scenarios that explain the jump in condensate “liquid” take note of the term Liquid.

1/ Bubble point was wrong when he told us SF7 would be a dry production well as it hadn’t gone Deep enough (when he was posting as his alter ego Push2) and the new sidetrack is also producing (not good. They are also running the gas through a temporary line, and they have said they don’t want to feed it through the plant as to avoid damaging it so I’m not sure if this figure would apply anyway?

2/ The NSTA website gives you the actual figures produced. The only way they are getting to anywhere near the claimed 120 as was figures is combining the condensate and water together…..remember that “liquids” get out of jail term. Well when you look at the increase in water cut over the months it’s quite possible that the are now at the 160 barrels a day mark combined.

Water cut in October,November and December was around 1/7.

Water cut in January, February and March was around 1/3.

All figures available from the NSTA website.

Scroll down to the PPRS spatial dashboard, zoom in to Saltfleetby on the map, (it’s the red dot below Grimsby, and all the information you need is there.

If by your mummy you mean the taxman Rob?, well mummy would be taking 75 sweets away you berk!

Canary

And if I had taken the truly awful and completely bogus advice given by those calling me a troll I would have lost another fortune just today!

Perhaps if Rob and yourself had taken notice of those who had a slightly better idea of what was going on you would be 25% better off if you had sold than you were on Friday?

Perhaps playing the ball not the man is a better use of your posting time?

Another thing we agree on Rob “smarter people than me” which appears to be almost everyone ( possibly balanced viewer should be excluded) looking at the calamity in the share price today.

I never said I didn’t own shares you plumb!

Calm down Rob….you may want to take the time to read my replies before posting your bile.

I do hold Angus and have told you I will never get my money back.

Trolling is actually what you are doing to me!

I am passing my years of knowledge regarding Angus and its many failures, dubious financial deals, share dealing scandals, questionable appointments, lost legal cases, and drilling of wrong wells. I have probably forgotten more than you know about the company!

You are for once correct. Do your own research. Start with the basic money owed compared to money earned……….it’s like that advert,……we’ve got more going out than coming in!

Then take a look at the annual accounts, half yearly, the CPR (especially the P numbers) and finally most importantly the accurate numbers provided by Angus to the NSTA. Some head scratching will follow!

My my, you are getting petty and frustrated Rob.

Unfounded personal insults doesn’t make your fantasy daily figures any more believable you do realise?

Gallders figures (not mine) were just under £60k for Sundays production. Take 11% of for the fall in gas yesterday for today’s figures.

I also forgot to mention that they would need to produce your 100k therms continuously for the length of the loans at a price per therm of £1.10 per therm. That’s not going to happen either whatever the scenario be it P90 or P50 ( see the CPR for details) as they have included works to the wells in the next 2 years in both scenarios. just a reminder that in 2 years time the P90 figures show a 50% reduction in gas!

Rob

Thanks for your comedy rundown!

Well firstly you £100k a day figure is about double what the are actually making a day see Gallders figures later (the gas sales will be around £55k for yesterday with the 11% drop in the price of gas) not even going to bother with the condy as you have been shown the actual figures on this several times now).

The company themselves have told us the terms will be similar to those of the current £3 million bridge loan that they failed to pay back! Thee gas prices has fallen considerably since then and the second hand equipment has proved not as reliable as hoped for during the period. Far from negotiating better rates quite to opposite is likely, if they ca

N actually negotiate a deal with the share price in free fall.

Yes of course companies have debt, and that’s fine as long as they can repay it on the terms agreed. Angus have the slight problem that UK natural gas prices need to be above around £1.10 a therm to pay those debts down.

The sums are remarkably easy to do at present Rob. I suggest you get that calculator out again.